Honda Profit Outlook Slashed: China’s EV Rivals Are The Real Threat, Not Tariffs
Honda recently lowered its full-year profit forecast. The company cut its outlook by one-fifth. This drop comes from one-time EV costs and chip shortages. Specifically, a component shortage involving Dutch-based Nexperia hurt production. U.S. tariffs also impacted Honda’s financial results. However, a much bigger problem is emerging for the Japanese automaker. Chinese electric vehicle (EV)…