Honda Motor cut its annual profit forecast by about a fifth and posted a 25% drop in its second-quarter operating profit on Friday, as its performance took a hit from United States import tariffs and one-off costs related to electric vehicles.
Japan’s second-largest automaker lowered its operating profit forecast for the year through March 2026 by 21% to $3.65 billion.
The new forecast also factored in a decline in production volumes due to an expected shortage in the supply of chips.
Honda booked a $1.29 billion profit for July-September.
–Reuters–
