Business
Add as a preferred source on GoogleHonda kept its ¥520 billion EV-related loss estimate unchanged, while its vehicle-sales outlook includes a decline in China.
Honda lifted its operating-profit outlook for the fiscal year ending March 31, 2027, to ¥780 billion, while keeping projected EV-related losses at ¥520 billion and reflecting lower China sales.
The earlier ¥650 billion profit target is now superseded by the ¥780 billion projection. The figures refer to operating profit.
Honda said its automobile sales in China declined, and its vehicle-sales forecast includes a decrease for the market. Honda said the strategy change carries costs.
China-region deliveries fell 24.8%, while BMW Group said expenses from portfolio and structural measures would weigh on fourth-quarter results.
Four German sites and one Belgian plant are due to close as the company cites overcapacity, declining combustion-engine demand and slower electric-vehicle growth.
Lee starts Dec. 1 and will oversee sales and service networks and partnerships. XPENG has not confirmed a sales launch date.
