Honda quarterly profits drop by half as carmaker feels effects of Trump tariffs
by Jasper Jolly from US news | The Guardian on (#6Z4V9)
Fall in operating profits also due to losses on electric car sales in US but drop is less than manufacturer estimated
The Japanese carmaker Honda has reported a 50% drop in quarterly profits as it counted the cost of Donald Trump's tariffs and electric vehicle policies, even as it said the full impact would be less than its worst expectations.
The manufacturer's operating profits fell by half to 244bn yen (1.2bn) in the three months to June, according to financial results published on Wednesday. That was mainly because of a 124bn yen hit from tariffs, as well as 113bn yen in losses on electric car sales in the US.
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