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.
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EV’s are all shit.
"We have learned nothing."
I hate EVs so much. I used to be the first to say we should ban EVs, but it looks like the market for them is going to dry up before Trump will decide on an EO.
This was inevitable once the government stopped tipping the scales.
> Total losses from electric vehicles are expected to hit $16 billion. <
Stupid should hurt.
The real shame is that the politicians and the greenies who pushed this nonsense will just walk away. Then they’ll regroup, and try again.
My wife and I enjoy doing most of our driving in an EV. But it should be a free market decision. And EV’s aren’t good for a lot of use cases.
The Automakers invested in EVs because they were told by the Feds that ICE vehicles will be banned by 2030.
Gess What? You have a new EV to hate.
The Tesla electric semi is now coming off the production lines and are already sold. The Tesla Electric semi is going to replace tens of thousands of diesels in many company fleets
Honda still has a great reputation for reliability and efficient gasoline engines. It is too bad they went all in on the EVs and ignored the warning signs that consumer demand was limited. Of course, they probably feared that many jurisdictions would outlaw internal combustion engines.
What they learned was they are unable to compete with Tesla
Winning...Thank God for Trump and the GOP. They did what they said they would do. I have an old Buick. It’s a guzzler but I don’t drive much anymore. I’m 82.
Seems like the only non-Chinese company actually making money on EVs is Tesla. It may be the only company in the world making money on EVs - I don’t trust anything any Chinese company claims about profit and loss.
Stupid is as stupid does, in this case build ev’s that no
body wants.
> I don’t trust anything any Chinese company claims about profit and loss. <
Yep. Plus every now and then a Chinese company will claim to have made the perfect EV battery. It will only take 10 minutes to be 99% charged!
Are they doing this to assert Chinese technological superiority?
Or is it just for giggles?
Maybe it’s both.
Without the heavy incentives would you still have made the purchase? These numbers seem to show many would not.
When I do charge my 30 volt batteries for my chainsaw and hedge trimmer I never do it overnight. I also now look for he UL label on Lithium Ion battery operated tools.
I was given a small 6” chainsaw that was made in China.
It does not have a UL label on the battery.
Lithium Ion battery fires are impossible to put out by almost ALL fire departments. Their choice is to wet the area around the fire and let it burn itself out. Then tow the vehicle away to some yard and monitor it because some times they reignite the next day or two later. Some big cities now have a tank to complete immerse an EV into if it has caught on fire.
My original Motorola Razor smart phone got so hot charging right here on my desk in my office that it was too hot to touch. Fortunately, I was sitting right next to it and unplugged it. I got rid of it later that day.
In many places in the world people can not afford an automobile. They can afford an EBike or scooter or motorcycle. Especially, in a lot of third world and second world countries. Places like Europe where a Liter of fuel in 2 Euros. This is how the working class commutes in a lot of countries. On a scooter. Only rich people have cars.
Many of these Ebike batteries are NOT made by reputable companies like Samsung. The 75 volt battery for an EBike Pro SS is $2000. That EBike can exceed 60 mph. It costs $4500.
It is like a battery operated moto cross bike.
Many high rise apartment/condo buildings have banned Ebikes because the cheap batteries occasionally start on fire.
The other issue with EV automobiles is their very poor residual value. Their sticker price is $50K or more. After seven years they are almost worthless. Not to mention most junk yards do not want them due to their fire risk.
This is completely different than many ICE autos. For example, I just bought a 2011 Lexus IS350 Convertible. The sticker price was around $52K fifteen years ago. I paid $23K. My other vehicle is a 2012 Tacoma double cab V6 long bed. I paid $30K new. It is worth between $12-14K right now with 130K miles.
EVs do have a lot less maintenance in general. However, when they do need to be repaired, even minor are very expensive.
For example, my buddy had a headlight die on his Tesla model Y. It cost $1400 at the Tesla dealer ship. I just replaced the headlight on my Tacoma. I had replaced the other about six months prior. So, I had bought a package of the highest power headlights at the local auto parts store for $50(for two). I replaced the headlight last night. It took almost ten minutes because I had to move the windshield washer reservoir.
They stopped making gas lawn mowers too. Bad move, IMO.
The new electric mowers cost twice as much as their already expensive gas mowers.
I own an electric car that works perfectly well...except for when it's wet and then it has a little trouble on the 18th fairway.
Does that mean the company had to charge off the expense?
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