Honda sees full-year profit declining 59% as US tariffs bite

Japanese automaker postpones Canada EV plans

20250513 Honda File Photo

Honda Motor expects operating income to total 500 billion yen for the year to March 2026. (Photo by Yuki Nakao)

TOKYO (Reuters) -- Japan's Honda Motor forecast a 59% profit decrease in the current financial year and said it would put on hold a plan to build an EV supply chain in Canada, amid the uncertainty stemming from U.S. President Donald Trump's tariffs.

Japan's second-biggest automaker expects operating income to total 500 billion yen ($3.38 billion) in the year to March 31, 2026, versus 1.21 trillion yen in the year that just ended.

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