Honda Reports First Annual Loss in 70 Years as EV Pullback Takes a Toll

Honda is reporting its first annual loss in seven decades, after taking a nearly $10 billion hit to its earnings for the year ending in March.

A major driver of that loss was the company's decision to scale back its electric vehicle investments and write down their value, moves that came after the Trump administration rolled back stricter emissions rules and ended the $7,500 federal EV tax credit for American buyers.

Honda isn't alone. Ford, GM, and Stellantis have all reported major charges tied to slowing EV expansion, signaling a broader pullback across the auto industry.

Still, Honda says it isn't abandoning electric vehicles entirely, pointing to growing competition from Chinese automakers and tougher emissions standards in overseas markets as reasons to stay in the game, even while pulling back at home.