Wow, nobody (except for the Terminally Stupid) could have seen this coming:
Japanese automotive giant Honda is reassessing its strategy for electric vehicles as it navigates challenges stemming from the high costs of EV development, flattening EV demand, and the impact of U.S. tariffs.
In the first quarter of its 2025-2026 fiscal year (April 1 to June 30, 2025), Honda took a one-time charge of ¥113.4 billion (~$780 million) related to its EV-related troubles. In total, the impact of the EV charge and its exposure to tariffs took a toll on Honda’s operating profit during the quarter, as earnings fell to ¥244.1 billion (~$1.69 billion) from ¥484.7 billion (~$3.35 billion) just one year ago.
Yeah… who else thought that the EV industry would fail without massive government subsidies / Green-based regulation?
Well, yes.
The green water mellons typically scream that oil and gas get big subsidies from government through cheap leases and such. I usually respond that oil, coal and natural gas actually produce reliable electricity. The solar panels and windmills do not achieve their goal and therefore are nothing more than a transfer of money through government force.
The enviroweenies got cocky and skipped over a couple of generations of mild hybrids to raw dog consumers into a future hellscape of lithium EV’s. Sure enough, the bloom is off the rose, as is the federal tax subsidy. Just because it works in Norway doesn’t mean it’ll work in Montana or Michigan.
Now they’re sitting on inventory they’ll have to give away, and with EV insurance rates climbing, as well as many parking garages and apartment buildings banning indoor parking of EVs, the future is not bright. Wait til FEDCO imposes the eventual and necessary battery reclamation tax and tariffs the hell out of child slave-produced lithium.
If I sound gleeful, it’s because I am. When they totally sunset the CAFE standards and allow Toyota to import Hilux’s to the US, I will be downright giddy.
The current CEO of Ford was in our beautiful state to announce a $2 billion dollar investment to make electric trucks at the Lulvul ( Louisville for you Yankees) plant. No picture of the vehicle was shown.
This is after right offs and other accounting hocus pocus to show a loss of $36 million in the second quarter.
This reinforced my belief that the modern CEO only needs good hair and the ability to read off a teleprompter.