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The latest forecast predicts that the firm's annual net loss will range from 420 billion to 690 billion yen. The earlier projection estimated a profit of as much as 300 billion yen.
Honda could incur writedowns as high as 2.5 trillion yen ($15.7 billion) following a strategic assessment of the electric vehicle sector. In particular, the firm will halt the development of three electric vehicle models in North America.
U.S. import duties and falling sales in China also adversely affected the company.
Since the start of the year, Honda's market value has decreased by 5.7%, whereas the Japanese stock index Nikkei 225 has increased by 8.2%.
source: bloomberg.com
Honda could incur writedowns as high as 2.5 trillion yen ($15.7 billion) following a strategic assessment of the electric vehicle sector. In particular, the firm will halt the development of three electric vehicle models in North America.
U.S. import duties and falling sales in China also adversely affected the company.
Since the start of the year, Honda's market value has decreased by 5.7%, whereas the Japanese stock index Nikkei 225 has increased by 8.2%.
source: bloomberg.com
