More poor EV sales fallout -- Honda to book $15 Billion loss

[1srelluc]

• Honda said it booked a charge of up to $15.7 billion as it retreats from some EV plans.
• The Japanese automaker joins other global legacy automakers announcing billion-dollar EV charges.
• The Honda 0 Saloon, Honda 0 SUV, and Acura RSX EV are all canceled. It leaves Honda with one EV.

Honda is taking a massive financial hit as it pulls back on its electric-vehicle ambitions.

MSN

Weird that only Toyoda figured it out early..... They paid the stupid noncompliance fines but avoided losing $tens of billions.

Here's a novel idea for success:

Make the cars people actually want, instead of the cars politicians tell you they must have.

Honda would have been fine just making ICE and hybrid vehicles.

 

[DGS49]

My guess is that they moved toward EV production when Biden made his EV mandate - all EV's by 2030 - then had to re-think it when Trump voided that mandate. Without the mandate, EV's will never dominate the marketplace.

Apparently, I'm the only one who understands the EV phenomenon: It is a niche market. EV's are PERFECT for people like me. I have two vehicles in the household and the ability to charge one in the garage, at a very modest cost. But I also have an ICE vehicle for trips. For most of the year I use the hell out of my Tesla M3 and the VW sits in the garage. When I'm traveling out of state - like now - the Tesla sits in the garage. It's perfect.

If there is only one vehicle in your household, or if you cannot conveniently charge at home, then you are better off with a hybrid or a normal ICE vehicle. You cannot fully enjoy the benefits of an EV.

I hate to see Honda take a hit like this. They are a great company and make a wide range of wonderful products.