Posted on 06/02/2026 5:35:01 AM PDT by Red Badger
Honda Motors reported its first annual loss in nearly 70 years, which came as a result of an emphasis on electric cars.
The Japan-based car company has been listed on the stock market since 1957, but the combination of electric vehicle bets and Trump trade policies led to its first-ever year in the red.
"EV demand has declined considerably, due to the rollback of environmental regulations in the U.S. and other factors," Honda said in a statement, per a report from Fox Business.
The company faces $9 billion in restructuring costs because of the lackluster electric vehicle demand.
It suffered a $2.7 billion loss in the past fiscal year, according to a report from the Associated Press.
Honda was hit with $9 billion in restructuring costs based on low electric vehicle demand and President Donald Trump's "Made in America" policies. https://t.co/xlXb8VndfW
— KTVU (@KTVU) May 19, 2026
Honda Motors CEO Toshihiro Mibe confirmed that it would scrap a previous target to make electric vehicles account for 20 percent of profits by 2030.
Total losses from electric vehicles are expected to hit $16 billion.
"We will continue our research to develop future technologies including electric vehicle batteries," Mibe remarked, per Fox Business.
OK, fanboy. You can love your Tesla, you just can’t make it anything but a high tech piece of shit.
Right away you are wrong. I want one with much less than 200 miles. I’ll use one of my gas cars for that. I have talked to many people that agree with me. So “no one” is wrong.
The only reason people want all that range is that people are being sold on the idea of an EV as a replacement for a gas car, which it shouldn’t be. EV’s are ideal for daily commutes for the majority of people. For anything longer, I always use one of my gas cars.
If they did this right, there could be EV’s for less than $15,000, that would be perfect for the daily commute. Instead they try to fill them with premium bells and whistles with more and more range, making them very expensive, like luxury cars, and too heavy for the roads.
Here are some EV numbers for CA over the years. There just isn't a lot of demand for low mileage EV. Low cost $15K EVs aren't going to happen and the feds will keep the Chinese cars out..
I addressed that in my comment. People have been programmed to think an EV is supposed to be a replacement for an ICE vehicle. What we should be doing is marketing them as an inexpensive additional vehicle for most routine daily commuting.
That’s how I used mine for almost 8 years and nearly 90K miles before I sold it. It averaged about 90 miles to a charge for most of that time. I had 2 other ICE cars for longer trips.
I loved my EV. Charging overnight was really convenient. In all that time I never had any maintenance other than new tires and a new car battery. Amazingly it still used a standard car battery. I was surprised by that. The regenerative motor braking made the brakes last forever.
You need to get out from under your rock and see what is really what with regard to Tesla.
You sold a 10 year old no frills EV, why did you sell it?
Street legal golf carts (LSV) which are rated for roadways under 35 MPH assuming the community allows them. They have to have headlights, blinkers, rear view mirrors, brake lights, crush proof roofs and etc. Bare bone ones start around $10K if not more. It is hard to see you could get a no frills EV with limited range for anything under $20K
It’s a long story, but the summary is that in the mid 2010s, there was a special tax rebate in GA that created a loophole for a nearly free 2 year lease on a Nissan Leaf. So I got it in 2015. Then they eliminated the rebate and put a special tax on EV’s each year. As a result, many people started turning them in after the lease. By the time my lease expired, the dealer gave me a great deal to keep it. So I spent about $16k total on the car between the lease and the purchase.
The main reason I sold was because of another problem with the EV market -No avenue for battery replacement. I look at EV battery replacement as “fuel” replacement, not motor replacement. I was worried that it might eventually become a liability to keep it, if it died and I had to pay someone to take it.
The car itself was great. The 100% instant torque of EVs is really fun. When you want to pass someone, you can almost do it instantaneously. Those motors are so simple and straight forward, but can really deliver on rapid acceleration. It’s almost “think it, and you are there” type acceleration.
Even the inexpensive Leaf had a very good 0 - 30 time. After that it wasn’t nearly as fast as a Tesla for example.
Just looking around a bit, it appears to me the main way is to contact a dealer to dispose of the car/battery. I doubt you would get charged for it.
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