Honda Motor on Thursday confirmed a next-generation model of its Ridgeline pickup truck will be produced in the U.S. following a temporary production stoppage later this year.
The future of the midsize pickup truck has been in flux amid reports that there could be a production pause coming due to the vehicle not meeting California emissions regulations.
The Japanese automaker on Thursday said there will be a temporary production stoppage for the pickup truck later this year at the Alabama plant that produces the vehicle, with assembly returning to the facility within two years, likely in 2028.
"The goal is to continue to serve those customers who've been loyal to the Ridgeline," Lance Woelfer, vice president of auto sales at American Honda Motor, told CNBC. "But one of the things that we want to bring forward in the future is increased ruggedness of that vehicle, even more capability."
Woelfer declined to comment on whether the more rugged capability will include the vehicle moving from a car-based production process to a more traditional truck assembly, known as "body-on-frame," which is how most trucks are built in the U.S.
"That's been an important part of its history. Whether or not it's part of its future, I won't get into that," Woelfer said. "This is a step forward for the Ridgeline that I think everybody will appreciate."
Expanding the capability of the Ridgeline, which is more known for smooth driving than ruggedness, could assist in expanding the vehicle's buyers.
Sales of the Ridgeline were down about 3% during the first half of the year. The company has sold between roughly 41,000 and 52,000 Ridgelines annually since 2021. That compares to more than 270,000 units sold of the segment-leading Toyota Tacoma in 2025.
Honda's confirmation of the new pickup comes as its CR-V compact crossover led U.S. auto sales through the first half of the year for the first time ever.
CR-V sales increased roughly 6% compared to last year as the Ford F-Series pickups and Toyota Rav4 crossover, which have led sales in recent years, dealt with production bottlenecks.
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Honda is discontinuing its Prologue. Owners noticed their recent monthly statement told them to "consider a hybrid." Honda Honda sold Prologue owners on going electric. Now, it wants them to consider a hybrid.
A blurb at the bottom of all Honda auto statements in July includes a section titled "Consider What's Next," which promotes the automaker's hybrid lineup and tells customers to "consider a hybrid" for their next vehicle.
The message landed awkwardly for Prologue owners. The SUV, Honda's only EV, was discontinued for 2027. The car company will have no fully-electric cars in its lineup next year.
Business Insider spoke with seven Prologue owners and lessees, including several who found the message frustrating — or darkly funny.
"The 'consider a hybrid' note on our statements is somewhat laughable," Oklahoma-based Benjamin Crabtree, who has owned a Prologue for a year, told Business Insider. "With very few exceptions, anyone who has gone fully electric would never want to downgrade to a gas or hybrid vehicle going forward."
Honda said the pitch was part of its effort to retain Prologue customers.
"Our focus is on Customer Lifetime Loyalty and retaining all of our existing customers by moving them into new Honda models," the company said. "We believe these would be great options for our returning Prologue customers."
The Prologue was supposed to bridge Honda into its next generation of EVs. The car was part of a joint effort with GM that also produced the Cadillac Lyriq, Chevy Blazer EV, and Chevy Equinox EV. The automakers scrapped their EV partnership in 2023 as costs rose and EV sales failed to meet expectations.
Honda's own electric ambitions have since unraveled.
The company confirmed in mid-July that Prologue production will end after the 2026 model year, with sales continuing into early 2027 with existing inventory. In March, Honda scrapped its planned US-built 0 Series EVs, while its joint venture with Sony ended before it could build the roughly $90,000 Afeela sedan.
Instead, Honda has said it's focusing on a new lineup of hybrid vehicles, including a 15-vehicle global slate by 2030.
That pivot disappointed some Prologue drivers — including Kevin Simpson, a California-based 2025 Prologue lessee — who had expected to remain with Honda for their next EV. He called the hybrid model pitch "mildly annoying and sadly ironic."
"I was following the development of the 0 Series Honda EVs, and intended one of those to be my next car," he said. "When Honda pulled the rug out from under me and other Prologue owners, I felt very let down by a company I have long admired."
Simpson said he is now considering the Rivian R2 or one of the electric vehicles developed jointly by Toyota and Subaru.
An EV rebound?
US EV sales have had a rough go in 2026. There are signs that high gas prices are giving them new momentum. Bloomberg/Getty Images Honda has said its broader reassessment of its electrification strategy could result in write-downs of $15.7 billion. The cancellations leave Honda without a new battery-electric model in its US lineup for 2027.
The Japanese automaker is not alone in reworking its electric ambitions. Automakers — including Jeep-maker Stellantis, Ford, Volkswagen, and General Motors — have canceled vehicles, delayed projects, or recorded billions of dollars in charges as they respond to slower demand, high development costs, and the loss of federal EV incentives. The federal tax credit of up to $7,500 was no longer available for vehicles acquired after September 30, 2025.
However, signs indicate that the US EV market is stabilizing amid skyrocketing gas prices.
Americans bought an estimated 247,226 new EVs in the second quarter, up 14.7% from the first three months of 2026, according to Kelley Blue Book. Sales remained well below the same period last year.
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Ben Shimkus is a reporter for the Business News desk. He writes about cars, transportation, retail, and jobs. Ben's reporting has appeared in Rolling Stone, The Verge, Automotive News, USA Today, AutoBody News, LGBTQ Nation, TopSpeed, and Out Magazine. He's also held staff writing positions at The U.S. Sun and the Daily Mail. He graduated from NYU with a Master's in journalism in 2024. Email Ben at [email protected] or message him privately on Signal at bshimkus.41.
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
One company to watch right now is Honda Motor Co. (HMC - Free Report) . HMC is currently sporting a Zacks Rank #2 (Buy) and an A for Value.
We should also highlight that HMC has a P/B ratio of 0.63. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 1.01. Over the past year, HMC's P/B has been as high as 0.66 and as low as 0.44, with a median of 0.55.
Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. HMC has a P/S ratio of 0.3. This compares to its industry's average P/S of 0.39.
Finally, our model also underscores that HMC has a P/CF ratio of 5.08. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. HMC's current P/CF looks attractive when compared to its industry's average P/CF of 6.50. Over the past 52 weeks, HMC's P/CF has been as high as 5.31 and as low as 3.12, with a median of 4.11.
Value investors will likely look at more than just these metrics, but the above data helps show that Honda Motor Co. is likely undervalued currently. And when considering the strength of its earnings outlook, HMC sticks out as one of the market's strongest value stocks.
Item 1 of 2 A Honda logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. REUTERS/David Dee Delgado/File Photo
[1/2]A Honda logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. REUTERS/David Dee Delgado/File Photo Purchase Licensing Rights, opens new tab
CompaniesJuly 14 (Reuters) - A U.S. auto safety regulator said on Tuesday it received a request to open a probe into 806,963 Honda (7267.T), opens new tab minivans over concerns related to their air bags.
The National Highway Traffic Safety Administration said the petition was related to inadvertent deployment of air bags while the vehicle was in motion.
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The move covers the Japanese automaker's popular Odyssey models from model years 2011 to 2017.
Honda did not immediately respond to a Reuters request for a comment.
Reporting by Nathan Gomes in Bengaluru
Our Standards: The Thomson Reuters Trust Principles., opens new tab
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Honda Motor (HMC - Free Report) Honda Motor Co., Ltd. is a leading manufacturer of automobiles and the largest producer of motorcycles in the world. The company is recognized internationally for its wide variety of products, ranging from small general-purpose engines to specialty sports cars, which incorporate its efficient internal combustion engine technologies. Honda operates through four business segments:
HMC is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 30.25; value investors should take notice.
Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2027, while the Zacks Consensus Estimate has increased $1.21 to $0.92 per share. HMC also boasts an average earnings surprise of +90.2%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, HMC should be on investors' short list.
Published July 8, 2026 4:28pm EDT | Updated July 8, 2026 4:41pm EDT
The recall affects 2018-2020 Honda Odyssey vehicles Honda is recalling more than 325,000 vehicles over faulty rearview image displays, which could increase the risk of a crash, according to federal regulators.
The recall affects 2018-2020 Odyssey vehicles, the National Highway Traffic Safety Administration (NHTSA) announced on Wednesday.
A total of 325,588 vehicles are covered by the recall effort.
HONDA RECALLS MORE THAN 880,000 VEHICLES OVER REAR SUSPENSION FAILURE RISK
Honda is recalling more than 325,000 vehicles over faulty rearview image displays. (Honda / Fox News)
The NHTSA said the recall was issued due to rearview cameras that may not display properly.
"Water may enter into the rearview camera, which can cause the rearview camera image to fail to display when the vehicle is in reverse," the recall notice reads.
A display malfunction could increase the risk of a crash, the NHTSA said.
The announcement expands a previous recall, which affected certain 2019-2020 Honda Odyssey vehicles.
Owners affected by the recall may take their cars to Honda dealers, so the rearview camera can be replaced free of charge, according to the NHTSA.
Owner notification letters are expected to be mailed on Aug. 24.
HONDA RECALLS 99,000 VEHICLES OVER FLAW THAT COULD TRIGGER UNINTENDED AIRBAG DEPLOYMENT
A total of 325,588 vehicles are covered by the recall effort. (Justin Sullivan/Getty Images / Getty Images)
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This comes after Honda issued two separate recalls in recent months that included other car models.
This included more than 880,000 vehicles being recalled because a key rear suspension part can rust and fail, and nearly 99,000 cars that were recalled over a defect that could cause airbags to deploy unexpectedly during a crash.
Honda Motor America, a unit of Honda Motor Co Ltd , is recalling 325,588 Odyssey vehicles in the U.S. due to issues with the display of the rearview image, the National Highway Traffic Safety Administration (NHTSA) said on Wednesday.
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Honda this week began production of batteries destined for energy storage systems, according to a report from Nikkei Asia. The milestone makes Honda the latest car company to dive into the red-hot energy market.
The automaker’s shift toward energy storage comes three months after Honda canceled its EV programs in the U.S. Batteries for the EVs were slated to be made at a factory in Ohio, which Honda operates under a joint venture with LG Energy Solution. Now, those cells are headed to data centers instead of driveways.
Honda’s pivot comes as demand for EVs in the U.S. remains soft following the GOP’s cancellation of tax credits, which were intended to spur EV and battery production in the U.S. Sales of new EVs remain down year-over-year, in part because consumers pulled forward their purchases to take advantage of the tax credits, which disappeared last September.
That uncertainty led Honda to dramatically shift gears, canceling three EVs that were destined for the U.S. market. The automaker wrote down $15.7 billion last fiscal year, in part to restructure its EV strategy. Its weakening China business, where EVs have soared, also contributed to the write-down.
But despite the restructuring, Honda didn’t dissolve its joint venture with LG Energy. And like seemingly every other automaker, including Tesla, Ford, and GM, Honda decided that batteries are a big business on their own.
The market for stationary storage has been booming, growing 32% year-over-year, according to a report from SEIA and Benchmark Minerals. In the first quarter of this year, 9.7 gigawatt-hours of energy storage systems were installed. That’s enough batteries to build roughly 120,000 EVs.
The breakneck growth is expected to continue. By the end of the decade, the report estimates that 110 gigawatt-hours of energy storage will be installed every year, nearly tripling the size of the market.
It’s been a profitable market, too. Tesla, which has claimed the majority of sales so far, rakes in 30% gross profits on its Megapacks and Powerwalls, about twice its margin on vehicles.
Many stationary batteries have been installed at data centers, but a large chunk of them end up connected to the grid. As battery prices have fallen, they’ve carved out a sizable niche stabilizing the grid while also augmenting wind and solar installations, making them more predictable generating sources.
Honda may not be sure how to approach the EV market in the U.S., but it’s clear it wants in on the energy transition in one form or another.
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Tim De Chant is a senior climate reporter at TechCrunch. He has written for a wide range of publications, including Wired magazine, the Chicago Tribune, Ars Technica, The Wire China, and NOVA Next, where he was founding editor.
De Chant is also a lecturer in MIT’s Graduate Program in Science Writing, and he was awarded a Knight Science Journalism Fellowship at MIT in 2018, during which time he studied climate technologies and explored new business models for journalism. He received his PhD in environmental science, policy, and management from the University of California, Berkeley, and his BA degree in environmental studies, English, and biology from St. Olaf College.
You can contact or verify outreach from Tim by emailing [email protected].
Honda Motor (HMC) CEO Toshihiro Mibe won shareholder backing for reappointment to the board after apologizing for the automaker's first annual loss since going
Honda Motor’s CEO and President, Toshihiro Mibe attends a media briefing about financial results in Tokyo, Japan, May 14, 2026. REUTERS/Kim Kyung-Hoon Purchase Licensing Rights, opens new tab
CompaniesTOKYO, June 26 (Reuters) - Honda Motor (7267.T), opens new tab Chief Executive Toshihiro Mibe secured support for his reappointment to the Japanese automaker's board at its annual meeting on Friday after apologising to shareholders for the company's poor financial performance.
Honda is seeking to recover from costly strategic missteps after posting its first annual loss in seven decades last month, hurt by more than $9 billion in restructuring costs for its electric-vehicle business and competition from Chinese rivals.
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"I would like to express my deepest apologies to our shareholders for the significant concern and inconvenience caused by the net loss recorded in the previous fiscal year's financial results," Mibe told shareholders at the start of the meeting.
Aside from backing Mibe, Honda shareholders approved the company's 10 other board nominees, including nine who were up for reappointment and one new director.
Amid an EV subsidy rollback, Honda decided on its EV-linked writedown with market share of battery-powered cars in the U.S. sharply below the company's forecasts, meaning sales of its planned models would have required big incentives, Mibe said.
If it would have gone ahead with selling its planned EVs, "it would mean the automotive business itself staying in the red for at least five years, possibly as long as seven," Mibe said, adding that it would have created an extremely critical situation at the company.
In recent months, Mibe has drawn scorn from retired Honda executives over the mishaps, with former chief executive Nobuhiko Kawamoto visiting Tokyo headquarters in April to urge him to resign, people familiar with the matter have told Reuters.
The former executives have criticised Mibe for neglecting China, the world's biggest auto market, and for the company's failed bet on EVs that caused Honda's loss and highlighted a growing dependence on its profitable motorcycle division.
Near the end of the meeting, a shareholder proposed filing a motion that called for Mibe's dismissal, but the chief executive declined to put it to a vote, saying the issue was not on the agenda and the proposal could therefore not be considered.
Reporting by Daniel Leussink; Editing by Thomas Derpinghaus and Kevin Buckland
Our Standards: The Thomson Reuters Trust Principles., opens new tab
TOKYO, June 18, 2026 /PRNewswire/ -- Honda Motor Co., Ltd. (NYSE: HMC) has filed with the Securities and Exchange Commission its annual report on Form 20-F for the fiscal year ended March 31, 2026. Honda's annual report on Form 20-F can be accessed from following web site addresses;
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +24% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Honda Motor (HMC - Free Report) Honda Motor Co., Ltd. is a leading manufacturer of automobiles and the largest producer of motorcycles in the world. The company is recognized internationally for its wide variety of products, ranging from small general-purpose engines to specialty sports cars, which incorporate its efficient internal combustion engine technologies. Honda operates through four business segments:
HMC is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 28.34; value investors should take notice.
For fiscal 2027, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.22 to $0.93 per share. HMC boasts an average earnings surprise of +90.2%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, HMC should be on investors' short list.
QS stock is moving. See the chart and price action here. Last week, QuantumScape and Honda announced a joint research program focused on solid-state battery development and the associated manufacturing processes.
Honda executive Atsushi Ogawa highlighted "a range of applications, including automotive," which signals a broader vision for QuantumScape’s solid-state battery platform.
The phrasing suggests Honda doesn’t see this as a single-product bet, but as a technology it can slot across multiple business lines.
Other ApplicationsHonda already operates far outside four-wheel passenger vehicles. The company sells motorcycles, scooters, generators, industrial equipment, power tools, marine engines and energy solutions.
A solid-state battery platform with high energy density, fast charging and strong safety characteristics could become a differentiator across several of those categories.
Industrial settings care about uptime and reliability, so rugged solid-state packs could improve total cost of ownership for customers that run equipment hard and often.
Stationary storage is another obvious candidate inside Honda’s ecosystem. The company already plays in backup power and distributed energy, pairing engines, inverters and control systems.
Solid-state packs integrated into stationary systems could cut maintenance, improve safety in constrained indoor spaces, and deliver higher usable energy per footprint.
Small mobility and two-wheelers may offer some of the most attractive proving grounds. Honda dominates global motorcycle and scooter markets, especially in regions where charging infrastructure and grid stability remain challenges.
Electric scooters or motorcycles using solid-state packs could achieve better packaging, lower weight, and faster top-ups, even if absolute range remains moderate. These vehicles also operate at smaller pack sizes, which fits QuantumScape’s current stage where volumes are limited and cell costs remain high.
Looking AheadPositioning QuantumScape as a platform technology provider aligns well with Honda’s multi-domain strategy.
Rather than waiting for one big flagship electric car launch in the early 2030s, Honda could roll out QuantumScape-based packs in a series of higher-margin, lower-volume products first.
Early, smaller-volume deployments will allow Honda and QuantumScape to debug manufacturing processes, refine pack integration and generate safety data before committing to mass-market EVs.
Each successful niche program reduces perceived platform risk for QuantumScape, even if unit numbers stay modest at first.
For markets that trade on milestones and credibility as much as current revenue, early wins could carry outsized weight for QuantumScape.
QS Stock Price Activity: QuantumScape stock was down 0.62% at $7.99 at the time of publication Monday, according to Benzinga Pro.
Over the past month, QS has declined about 7% versus a 0.3% decline in the S&P 500 and is down roughly 26% year-to-date compared to the index’s 9% gain. The stock has a 52-week range of $4.16 to $19.06.
Photo courtesy of QuantumScape Corp.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
Honda agrees to a deal with battery-tech company QuantumScape.
Honda Makes Surprise Bet on Solid-State Batteries With New Research Deal Why solid-state? Honda's wider electrification picture Honda R&D, the independent research and development arm of Honda Motor Company, has signed a multiyear joint research agreement with California-based battery technology company QuantumScape. The deal, announced Thursday, is focused on developing and manufacturing solid-state battery cells.
The agreement follows Honda's review of QuantumScape's technology, providing an important vote of confidence in the company's solid-state battery efforts.
Why solid-state?Solid-state batteries are often viewed as one of the most promising advances in next-generation energy storage. They could allow electric vehicles to travel farther, charge more quickly and operate more safely than those using today's lithium-ion batteries. The potential uses go beyond electric vehicles. The technology could also help power AI data centers, aircraft and defense systems.
Not every solid-state battery claim has gone unchallenged. Earlier this year, Finnish startup Donut Lab attracted attention after announcing what it described as the world's first production-ready solid-state battery. But battery researcher Ryan Inis Hughes, who publishes on YouTube as Ziroth, questioned that claim, arguing that the cell appears to rely on conventional lithium-ion chemistry rather than the sodium-ion solid-state design the company implied.
Enlarge Image
QuantumScape kicked off pilot production of its 5-amp-hour QSE-5 solid-state cell earlier this year at its San Jose, California, headquarters.
Antuan Goodwin/CNETQuantumScape, by contrast, appears to have stronger validation for its technology. An existing deal licensing its technology to PowerCo SE, the battery company of the Volkswagen Group, gave the company its first major automotive alignment. Honda's more recent evaluation and research agreement reinforces the appearance that its technology is holding up under serious scrutiny.
"QS technology demonstrated compelling and unique advantages during our evaluation," Atsushi Ogawa, chief operating officer of Honda R&D, said in a statement accompanying the announcement. "We see potential for QS technology to add value across a range of applications, including automotive, and we are excited to move forward into the next phase of our partnership."
The deal is a meaningful step toward solid-state battery tech reaching consumer cars. Earlier this year, QuantumScape opened its Eagle Line pilot facility at its Silicon Valley headquarters. The facility will produce QSE-5 solid-state battery samples for partner evaluations and serve as a blueprint for large-scale manufacturing before customers such as Honda commit to licensing the technology.
Honda's wider electrification pictureThe agreement comes at an unexpected moment. Earlier this year, Honda pulled back on several high-profile North American EV initiatives, including the Zero Saloon and SUV concepts, the Acura RSX SUV, and its Afeela collaboration with Sony Honda Mobility.
Enlarge Image
Earlier this year, Honda took a huge loss and ended development of the upcoming 0 EV concepts and Acura RSX due to insufficient demand.
HondaHonda has reduced its near-term EV ambitions, cutting EV and software investment and lowering its 2030 global battery-electric sales target to about 20%. The company is now prioritizing hybrids, with a new wave of models planned from 2027, rather than pursuing an all-electric and fuel-cell lineup by 2040.
A representative for Honda didn't immediately respond to a request for comment.
Antuan started out in the automotive industry the old-fashioned way, by turning wrenches in a driveway and picking up speeding tickets. He now has nearly 20 years of expertise and experience behind the wheel of hundreds of cars, including electric, hybrid, plug-in hybrid, hydrogen, and traditional combustion vehicles. For each car he tests, Antuan covers more than 200 miles behind the wheel and evaluates driving dynamics; acceleration and braking performance; range; and efficiency. Antuan's goal is to use his extensive car knowledge to educate CNET readers and help with their next car-related buying decision. Whether you're EV-curious, an EV-enthusiast or a combustion-car loyalist, Antuan will bring you the unbiased advice, reviews, best lists and news you need. You can reach Antuan at [email protected]
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Antuan Goodwin Senior Writer, Electrified Cars
Antuan started out in the automotive industry the old-fashioned way, by turning wrenches in a driveway and picking up speeding tickets. He now has nearly 20 years of expertise and experience behind the wheel of hundreds of cars, including electric, hybrid, plug-in hybrid, hydrogen, and traditional combustion vehicles. For each car he tests, Antuan covers more than 200 miles behind the wheel and evaluates driving dynamics; acceleration and braking performance; range; and efficiency. Antuan's goal is to use his extensive car knowledge to educate CNET readers and help with their next car-related buying decision. Whether you're EV-curious, an EV-enthusiast or a combustion-car loyalist, Antuan will bring you the unbiased advice, reviews, best lists and news you need. You can reach Antuan at [email protected]
Expertise Nearly two decades of testing, driving, reporting on, writing about, reviewing, and editing content about electric and ICE cars. Category focus is on electrified cars, EVs, HEVs, PHEVs, ICE cars, EV infrastructure, EV chargers, EV adapters, EV news, auton Credentials
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SummaryCompaniesHonda expects 500 bln yen op profit in the current fiscal yearHonda expects additional EV writedown of 500 bln yenHonda scraps long-term EV sales targetHonda indefinitely suspends Canada EV projectTOKYO, May 14 (Reuters) - Honda Motor (7267.T), opens new tab posted its first annual loss in nearly 70 years as a listed company on Thursday, hit by more than $9 billion in costs to restructure its electric-vehicle business, and the firm scrapped its long-term EV sales target.
Revealing its worst financial report since Honda listed on the stock market in 1957 underscores how risky an aggressive bet on EVs can be for a legacy automaker when it slams into weaker-than-expected demand.
Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here.
Toshihiro Mibe, CEO of Japan's second-largest automaker, on Thursday said Honda is scrapping its goal of having EVs make up a fifth of its new car sales in 2030 as well as a target of a full shift to electric or fuel-cell vehicle sales by 2040.
Mibe said Honda will also indefinitely suspend its Canada EV project, an $11 billion investment plan to produce EVs and batteries in what would have been the Japanese firm's largest ever investment in the country.
SHARES UP ON NO DIVIDEND CUTHonda's shares briefly hit a two-month high before closing up 3.8% on Thursday, after it pledged at least 800 billion yen in shareholder returns over three years and kept the annual dividend for both the new fiscal year and the year just ended at 70 yen per share.
The pledge highlights Honda's reliance on its profitable motorcycle business to generate cash and support shareholder returns, as its auto operation continues to lag in terms of scale and execution.
"The overall execution has been very slow," said James Hong, head of mobility research at Macquarie.
Some steps the company laid out as part of its strategy, such as using more local components from China, were "nothing new," he said.
Item 1 of 2 The Honda Motor logo is pictured at the 43rd Bangkok International Motor Show, in Bangkok, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha
[1/2]The Honda Motor logo is pictured at the 43rd Bangkok International Motor Show, in Bangkok, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha Purchase Licensing Rights, opens new tab
Its operating loss totalled 414.3 billion yen ($2.63 billion) for the year ended March, compared with a median estimate of a 315.6 billion yen loss in a poll of 22 analysts by LSEG and a 1.2 trillion yen profit a year earlier.
Honda booked total EV-related losses of 1.45 trillion yen for the business year ended March and expects to face additional costs of 500 billion yen for the year just started. That compares with EV writedown costs of up to 2.5 trillion yen that Honda estimated in March.
The company still expects to return to profitability this year, forecasting a 500 billion yen profit on cost-reduction measures and its profitable motorcycle business.
"The motorcycle business will expand production capacity in India ... and aim for record-high sales of 22.8 million units," Honda said in an earnings statement.
Strong sales in India and Brazil enabled its motorcycle business to achieve record-high sales volume and operating profit in the fiscal year ended in March, helping the firm cushion the impact of a bruising EV business writedown as well as sliding car sales in key markets including China.
Hong said Honda's motorcycle business also faces margin pressure due to a transition to EVs in some of its key markets like India and Vietnam.
"They have a limited time window to act," he said.
The company expects rising material prices, including the impact of the Middle East conflict, would cause a 313 billion yen hit to its operating profit in the current fiscal year.
Japan's second-largest automaker posted its first annual loss due to shrinking sales in key markets and the restructuring of its EV business.($1 = 157.8300 yen)
Reporting by Daniel Leussink; Writing by Miyoung Kim; Editing by Jacqueline Wong and Muralikumar Anantharaman
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Daniel Leussink is a correspondent in Japan. Most recently, he has been covering Japan’s automotive industry, chronicling how some of the world's biggest automakers navigate a transition to electric vehicles and unprecedented supply chain disruptions. Since joining Reuters in 2018, Leussink has also covered Japan’s economy, the Tokyo 2020 Olympics, COVID-19 and the Bank of Japan’s ultra-easy monetary policy experiment.
3 Automakers to Buy on U.S.-Japan Trade Deal—Not Who You ExpectHonda Motor NYSE: HMC reported a full-year operating loss after booking large EV-related charges, while executives outlined a broad reset of the automaker’s electrification and automobile business strategy.
Director, President and Representative Executive Officer Toshihiro Mibe said Honda recorded total EV-related losses of JPY 1.5778 trillion for the fiscal year ended March 2026. The charges included provisions and impairment losses tied to EVs already sold in the U.S. and additional losses following the cancellation of North America-produced EV models.
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Power Play: Japan’s Top Auto Stocks Eye Historic MergerAs a result, Honda posted an operating loss of JPY 414.3 billion for the year. Excluding the EV-related losses that affected operating profit, Mibe said adjusted operating profit was JPY 1.0393 trillion. He said the motorcycle business delivered record unit sales and operating profit, while the automobile business remained profitable on an adjusted basis despite tariffs, lower unit sales and semiconductor-related supply constraints.
EV Losses Drive Full-Year Deficit Director, Executive Vice President and Representative Executive Officer Noriya Kaihara said Honda’s consolidated results included a net loss attributable to owners of the parent of JPY 423.9 billion, down JPY 1.2597 trillion from the previous year. Adjusted net profit attributable to owners of the parent was JPY 795.5 billion.
Shift Into Growth: Top 3 Hybrid Vehicle Makers to Invest InMotorcycle unit sales rose to 22.101 million units, supported by Asia and South America. Automobile unit sales fell to 3.387 million units, mainly due to weakness in Asia, including China. Power products unit sales declined to 3.589 million units.
By segment, Kaihara said motorcycle operating profit rose JPY 68.4 billion to a record JPY 731.9 billion. The automobile business recorded an operating loss of JPY 1.4111 trillion after JPY 1.4536 trillion in EV-related losses. Excluding those losses, automobile adjusted operating profit was JPY 42.5 billion. Financial services generated operating profit of JPY 275.5 billion, while power products and other businesses posted an operating loss of JPY 10.6 billion.
Honda reported free cash flow excluding financial services of JPY 1.58 trillion. Its operating companies had a net cash balance of JPY 3.3245 trillion at the end of March 2026, while operating cash flow after R&D adjustment totaled JPY 2.6579 trillion.
Fiscal 2027 Outlook Calls for Return to Operating Profit For the fiscal year ending March 2027, Honda forecast operating profit of JPY 500 billion, including an estimated JPY 500 billion in EV-related losses. Excluding those losses, adjusted operating profit is expected to be JPY 1 trillion. Profit attributable to owners of the parent is forecast at JPY 260 billion, or JPY 620 billion on an adjusted basis.
Honda expects motorcycle sales of 22.8 million units, automobile sales of 3.39 million units and power products sales of 3.65 million units. The company assumed an exchange rate of JPY 145 to the U.S. dollar.
The company plans an annual dividend of JPY 70 per share for the fiscal year ending March 2027, unchanged from the prior year. Mibe said Honda has maintained “ample cash at hand” and a high level of financial soundness, citing a 55% equity ratio for operating companies excluding financial services.
Honda Resets EV Strategy and Focuses on Hybrids Mibe said the cancellation of three North America EV models does not mean Honda is withdrawing from EVs. He said the company will continue EV sales in Japan and Asia where they match local demand and will monitor North American market conditions before launching additional products there.
However, Mibe said the company is withdrawing its previous target for EVs and fuel cell vehicles to account for 100% of sales by 2040. In response to a question from NHK’s Yasunaga, Mibe said that goal is “not realistic as of now” given market uncertainty and changing customer demand. Honda will instead focus on total CO2 reduction while maintaining its goal of carbon neutrality by 2050.
Honda will shift more development and production resources to hybrids. Mibe said the company plans to launch 15 next-generation hybrid models globally by the end of the fiscal year ending March 2030, primarily in North America. The next-generation hybrid system is expected to improve fuel economy by more than 10% and reduce system costs by more than 30% compared with 2023 models.
The company also plans to introduce next-generation advanced driver assistance systems beginning in 2028 and install them in more than 50 models over five years. Honda said it will make all of its North American auto plants capable of producing hybrid models and convert part of the EV battery lines at its LG Energy Solution joint venture to hybrid battery production.
Automobile Turnaround Plan Targets Record Profit Mibe said Honda’s automobile business faces challenges beyond the EV slowdown, including lower profitability in North America and weaker competitiveness in China and ASEAN markets. He said Honda will focus on improving cost structure, increasing development efficiency and concentrating resources in priority markets.
The company identified North America, Japan and India as priority regions. In Japan, Honda plans to expand EV offerings in the mini-vehicle category and add next-generation hybrid models, mostly SUVs, beginning in 2027. In India, Honda plans to introduce strategic models tailored to local customer needs starting in 2028, including vehicles under four meters and midsize models.
In China, Mibe said Honda will pursue cost reductions through locally sourced standard components, incorporate local technologies such as ADAS and introduce new energy vehicles using platforms from local partners.
Honda also plans what Mibe called “Triple Half,” a development-efficiency initiative aimed at cutting development cost, duration and workload by half compared with 2025 levels. The company aims to reduce minor model change development time by half starting this fiscal year and full model change development time by half for projects starting in 2028.
Honda said it is targeting operating profit above JPY 1.4 trillion by the fiscal year ending March 2029 and a 10% return on invested capital by the fiscal year ending March 2031. Over the next three years, the company plans total investment of JPY 6.2 trillion, including JPY 4.4 trillion for internal combustion engine and hybrid models, about JPY 1 trillion for software and about JPY 0.8 trillion for EV-related investment.
Management Addresses Losses and Governance Changes In the question-and-answer session, Mibe said he takes the large deficit “very seriously” as management. He said Honda decided to recognize the losses to stop future bleeding and return to a growth trajectory.
Honda also said it will further change its governance structure. Mibe said the board of directors will be composed of a majority of outside directors, the chair of the board will be an outside director, and all members of the nominating and compensation committees will be outside directors.
“The business environment surrounding Honda is uncertain, unprecedentedly uncertain and tough,” Mibe said. He said the company will focus on rebuilding its automotive business while relying on its motorcycle business and financial foundation to support future growth.
About Honda Motor NYSE: HMCHonda Motor Co, Ltd. is a global manufacturer and mobility company headquartered in Minato, Tokyo, Japan, founded in 1948 by Soichiro Honda and Takeo Fujisawa. The company's core businesses include the design, manufacture and sale of automobiles and motorcycles, along with a diverse portfolio of power products, engines and related components. Honda also operates in aviation through Honda Aircraft Company and offers financial services that support vehicle sales and leasing.
In automobiles, Honda is known for a range of passenger cars, crossovers and light trucks, and in motorcycles it is one of the world's leading producers by volume and model breadth.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Shares of Honda Motor rose over 7% on Friday, even after the Japanese automaker posted its first annual operating loss in nearly 70 years.
Honda swung to an operating loss of 414.3 billion yen ($2.61 billion) for the fiscal year ending March, compared to an operating profit of 1.2 trillion yen the year prior. Provisions made for its ailing electric vehicle business and related investments, competition from its Chinese rivals, as well as a U.S. tariff impact of 346.9 billion yen weighed on its earnings.
"The business environment surrounding the Company has been changing rapidly, and the outlook remains uncertain," Honda said in its earnings statement on Thursday.
As part of its efforts to reorganize its EV business, the automaker said it will cancel market launches and development of some EV models initially planned for production in North America. The Japanese automaker said it expects the restructure of its EV business to cost over $9 billion.
Honda also noted that new EV makers have intensified competition in China. "Under such a challenging and competitive environment, the Company has also revised its product launch plans for certain EV models," Honda added.
"We believe the positive share price reaction is driven by the company's guidance for operating and net profit, both of which came in 38% above consensus estimates," said Masahiro Akita, an analyst from Bernstein.
However, Akita said it's uncertain as to whether the guidance has fully priced in possible losses linked to EV investments.
The automaker, being a late entrant to the EV market, has been facing challenges amid growing competition from Chinese rivals, inflation and U.S. tariffs.
Aya Adachi, an associate fellow at the Center for Geopolitics, Geoeconomics and Technology of the German Council on Foreign Relations, noted that global automotive competition is being gradually influenced by China's rapid growth in electric vehicle production.
"While pioneering hybrid technology, Japan's slow transition to battery electric vehicles left it with a limited presence in China's new energy vehicles market and exposed it to rising pressure in export markets," Adachi said.
Further, engine issues and vehicle recalls have also dented Honda's reputation. In March, Honda engines used by Aston Martin were found to be causing battery failures and in January the Japanese automaker was slapped with a lawsuit in Canada over a defect in the 1.5L turbocharged engine in three Honda models.
That said, both Citi and Nomura have kept a buy rating on Honda, expecting to see some future growth in the company.
"While we expect earnings to be low in 27/3, we think the time is right to price in a full-fledged recovery through 28/3 now that the company has announced revisions to its strategy," Nomura analyst Toshihide Kinoshita said in a note, referring to the company's estimated earnings for the years ending March 2027 and March 2028.
The Japanese automaker is shifting its focus more towards China and India markets from "a traditional global standard model," Citi analyst Arifumi Yoshida said in a note. Yoshida said that Honda plans to use its advantage in the motorcycle business to capture the demand from India's low cost segment.
Shares were last trading 7.42% higher at 1,418 yen.
Honda’s latest results paint a sharply weaker picture of the company’s performance, with both operating and net income slipping into loss for the first time in decades.
The company reported an operating loss of ¥414.3 billion and a net loss of ¥423.9 billion for the year ended March 2026, its first annual loss since it was founded in 1948.
Yet the stock rose 7% on Friday because investors were not buying the past; they were buying the next 12 months.
Honda’s forecast for the year ahead calls for ¥500 billion in operating profit, well above Bloomberg’s consensus estimate of ¥212.4 billion, and that forward view mattered more to the market than the headline loss.
The result was a share-price rally even as the company booked one of the worst years in its modern history.
The annual loss was not a surprise as Honda said the damage was driven mainly by EV-related writedowns and restructuring costs, not by a sudden collapse in its core business.
The company booked ¥1.4536 trillion in EV-related losses for the year, and it said the tariff hit alone clipped operating profit by ¥346.9 billion.
But Honda’s adjusted operating profit excluding EV losses was still ¥1.0393 trillion, which shows the underlying business remained profitable once the one-off charges were stripped out.
Honda had already warned in March that it was facing up to ¥2.5 trillion in EV-related costs, so much of the bad news was already known.
That is why the market reaction looked so counterintuitive.
Honda stock had already fallen sharply when the company first flagged the loss, but this week’s results confirmed the scale of the write-off while also showing the damage was concentrated in one strategic bet.
The guidance number changed the storyThe real market-moving number was not the loss, but the guide for the year ahead.
Honda said it expects ¥500 billion in operating profit in fiscal 2027, and the stock rose on the back of that outlook and the company’s unchanged annual dividend of ¥70 a share.
Honda also said it aims for record motorcycle sales of 22.8 million units, with India and Brazil driving record-high motorcycle volume and operating profit in the year just ended.
In other words, the business that throws off cash is still doing the heavy lifting while the auto division restructures.
That matters because markets value earnings power ahead, not just the previous year’s result.
If management can show a credible path back to profit, even after a historic loss, investors are often willing to look through the damage.
Honda’s 2027 guidance reassured the market that the EV reset is not expected to cause lasting damage, but rather a recovery.
Key Takeaways HMC posted a Q4 loss of $4.24 per share, topping estimates as revenues rose to $37.1 billion.Honda's motorcycle revenues rose 17.9% Y/Y, while operating profit increased 14.6%.HMC expects fiscal 2027 revenue growth of 6.2% but forecasts a sharp profit decline. Honda (HMC - Free Report) incurred a loss of $4.24 per share for the fourth quarter of fiscal 2026, beating the Zacks Consensus Estimate by 90.2%. The bottom line, however, fell from the year-ago quarter’s earnings of 18 cents per share. Quarterly revenues totaled $37.1 billion, which rose from the year-ago period’s figure of $35.2 billion.
Segmental HighlightsFor the three-month period, which ended on March 31, 2026, revenues from the Automobile segment increased 4.6% year over year to ¥3.73 trillion ($23.8 billion). The segment registered an operating loss of ¥1.25 trillion ($7.96 billion) compared with an operating loss of ¥158.7 billion in the corresponding quarter of fiscal 2025.
Revenues from the Motorcycle segment came in at around ¥1.09 trillion ($6.94 billion), which increased 17.9% year over year. The unit’s operating profit came in at ¥185.3 billion ($1.18 billion), up 14.6% year over year.
Revenues from the Financial Services segment totaled ¥975 billion ($6.21 billion), up 14.8% year over year. The unit’s operating profit totaled ¥57.5 billion ($366.4 million), down 18.6% year over year.
Revenues from Power Product and Other Businesses came in at ¥129.7 billion ($826.4 million), up 14.5% year over year. The segment reported operating income of ¥4.1 billion (26.1 million) against the operating loss of ¥68 billion incurred in the same period last year.
Financials & FY27 ViewConsolidated cash and cash equivalents were ¥4.53 trillion ($28.5 billion) as of March 31, 2026. Long-term debt was around ¥301.4 billion ($1.9 billion) as of March 31, 2026.
Honda projects fiscal 2027 consolidated sales volumes from the Motorcycle, Automobile and Power Products segments to be 15.19 million units, 2.71 million units and 3.59 million units, respectively. The forecast implies growth of 3.5% year over year in the Motorcycles unit, while it implies a year-over-year rise of 4% and 1.7% for the Automobile and Power Product unit sales, respectively.
For fiscal 2027, Honda forecasts revenues of ¥23.15 trillion, implying a rise of 6.2% year over year. Operating profit is envisioned at ¥500 billion, indicating a contraction of 54.7% year over year. Pretax profit is forecasted to be ¥500 billion, suggesting a drop of 55.9% year over year. The company will pay an interim and year-end dividend of ¥35 per share each in fiscal 2027.
HMC currently has a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Releases From Auto SpaceMobileye Global Inc. (MBLY - Free Report) reported first-quarter 2026 results on April 23. It posted earnings of 12 cents per share, beating the Zacks Consensus Estimate of 8 cents by 58.52%. The bottom line rose 50% year over year, driven by higher shipments of EyeQ system-on-chip. The company posted revenues of $558 million, which beat the Zacks Consensus Estimate of $520 million by 7.36% and increased 27.4% year over year.
Operating cash flow was $75 million, reflecting the company’s ability to convert its ADAS scale into cash generation.
Mobileye also approved a share buyback program of up to $250 million. By the end of the first quarter, MBLY had $1.21 billion in cash, after spending $591 million (net of cash received) on the Mentee Robotics acquisition.
Gentex Corporation (GNTX - Free Report) reported first-quarter 2026 results on April 24. It posted adjusted earnings of 48 cents per share, which beat the Zacks Consensus Estimate of 44 cents by 8.28%. The figure increased 11.6% from 43 cents a year ago. Net sales came in at $675 million, topping the consensus mark of $647 million by 4.36%. Revenues rose 17.1% from $577 million in the year-ago quarter, aided by contributions from VOXX and a richer mix of advanced features.
Liquidity improved during the quarter. As of March 31, 2026, GNTX’s cash and cash equivalents were $164.8 million compared with $145.6 million as of Dec. 31, 2025. Short-term investments increased to $10.3 million from $5.4 million.
PACCAR Inc. (PCAR - Free Report) reported first-quarter 2026 results on April 28. It reported earnings of $1.15 per share, beating the Zacks Consensus Estimate of $1.13 by 1.8%. The bottom line decreased 21.2% from $1.46 in the year-ago quarter. Consolidated revenues (including trucks and financial services) were $6.78 billion, down from $7.44 billion in the corresponding quarter of 2025. The decline reflected lower industry volumes.
On the balance sheet, cash and marketable securities were $8.60 billion as of March 31, 2026, compared with $9.25 billion as of Dec. 31, 2025, while stockholders’ equity increased to $19.76 billion from $19.26 billion over the same span.
Honda Motor Co., Ltd. faces a humbling annual loss and a strategic pivot from BEVs to hybrids amid weak demand and regulatory uncertainty. HMC will introduce 15 gas-electric hybrid models over four years, localizing U.S. hybrid component sourcing to improve profitability and reduce tariffs. Management forecasts a return to operating profitability by March 2025 and a record $8.8B operating profit in FY2029, following a $2.6B FY2026 loss.
For the first time in its history as a publicly traded company, Honda Motor (HMC 2.33%) posted a full-year loss. The Japanese automaker took a massive $10 billion hit to its electric vehicle business.
Excluding the EV segment, Honda is still profitable. Its executives were quick to point out this fact.
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Honda is now pivoting and plans to roll out 15 new hybrid models by early 2030. The company canceled several EV models and even walked back its climate pledge. Instead of reaching combustion-free status by 2040, Honda now aims to be carbon neutral by 2050.
While Honda is largely abandoning its EV plans, it still faces other hardships. Honda is discontinuing sales in South Korea, closing a plant in China, and delaying its autonomous-driving ambitions.
The good news is that Honda is disciplined and knows how to steer to get back on track. The Japan-based company is refocusing its efforts on its strengths in a leaner, more efficient manner. This strategy shift should be great for long-term investors.
Image source: Getty Images.
As for the stock, Honda hasn't done much to impress over the past five years. Shares are down more than 13% in that time frame.
Honda inventors should remain patient. This speed bump arguably marks the beginning of the company's turnaround. There's money to be made with hybrids. The hybrid car market could reach $457 billion by 2030, growing at a compound annual rate of 11%, according to Grand View Research.
Honda learned a tough lesson last year but is now moving in the right direction toward long-term success in a highly competitive automotive industry. Patience is key here for investors. The stock is reasonably priced, but the strategic pivot may need some time to take hold.
Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
KOBE, Japan, May 21, 2026 (GLOBE NEWSWIRE) -- Micware Co., Ltd., (Nasdaq: MWC) (the “Company” or “Micware”), a Japan-based provider of software development services and innovative IT solutions mainly focused on the automotive and mobility sectors, today announced that it has received an “Excellent Appreciation Award (Development Division)” from Honda Motor Co., Ltd. (“Honda”).
The “Excellent Appreciation Award” is presented by Honda to business partners that have delivered outstanding contributions in their respective fields.
In the Development Division, the Company was recognized for the practical and meaningful support it provided through close collaboration from the early stages of development, spanning in-vehicle infotainment software design philosophy, development processes, and product quality assurance. This support enabled the steady execution of mass-production development while maintaining a high level of quality and helped achieve both asset reusability and customizability while keeping costs low. In addition, through the continuous refinement of software assets, the Company contributed to the deployment across multiple vehicle models and global markets, thereby helping strengthen competitiveness for the software-defined vehicle era.
The award ceremony was held at the Company’s Kobe head office on May 8, 2026, where the Company was presented with a trophy.
From left: Micware's CTO, Mr. Masahide Shigeno; Micware's CEO, Mr. Kenji Narushima; members of Honda R&D Co., Ltd.’s SDV R&D Center (Smart Cabin Development Division): GM, Mr. Takashi Takiguchi; Development Improvement Department MG, Mr. Tasuku Saka; Infotainment Software Development Department MG, Mr. Tetsuya Mukawa
The "Excellent Appreciation Award" presented to Micware by Honda Motor
Micware's CEO, Mr. Kenji Narushima (left) receives the "Excellent Appreciation Award" from Honda R&D Co., Ltd.’s SDV R&D Center (Smart Cabin Development Division) GM, Mr. Takashi Takiguchi (right)
About Micware Co., Ltd.
Micware Co., Ltd. is a Japan-based provider of software development services and innovative IT solutions mainly focused on the automotive and mobility sectors. The Company is primarily engaged in the development and sale of in-vehicle infotainment (“IVI”) systems covering multimedia, navigation, human machine interface, telematics, and driver assistance, as well as navigation software and location information-based smartphone applications.
Since its founding in 2003, Micware has built over 20 years of experience in automotive software and has established long-term relationships with major original equipment manufacturers (“OEM”) in Japan, including Honda Motor Co., Ltd. and Toyota Motor Corporation. Leveraging its engineering capabilities, proprietary technologies, and long-standing OEM relationships, the Company was ranked 9th among Japan-based Tier 1 suppliers in the IVI market in terms of revenue as of February 28, 2024, according to an industry report titled “IVI, Automotive Navigation System and Digital Mapping Market” commissioned by the Company and prepared by Frost & Sullivan. Micware operates across Japan through six operating entities and 12 branch offices and has established subsidiaries in the United States, Thailand, and Germany for overseas operations.
For more information, please visit the Company’s IR website: www.ir-micware.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may,” or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the “Risk Factors” section of the registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the registration statement and other filings with the SEC. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov.
For more information, please contact:
Micware Co., Ltd.
Investor Relations Department
Email: [email protected]
LOS ANGELES, May 28, 2026 (GLOBE NEWSWIRE) -- Curbee, the leading mobile service platform for automotive dealerships, today announced a landmark partnership with Paragon Honda, Paragon Acura and White Plains Honda, collectively the No. 1 Honda dealership operation in the United States. The group is the first Honda and Acura retail group in the United States to deploy Curbee’s platform.
Paragon and White Plains will use Curbee’s platform to deliver select dealership-certified mobile vehicle maintenance and repair services on demand to customers in driveways – rather than just in service lanes – across the Tri-State market.
The partnership reflects a broader shift underway in dealership fixed operations as progressive auto retailers look for ways to increase service capacity, improve customer retention and handle demand that is growing rapidly without the cost or hassle of expanding physical service facilities.
“The Paragon and White Plains brands understand that mobile service is not just a feature, it is a fundamental extension of the customer relationship,” Curbee CEO Amit Chandarana said. “We’re proud to be the platform that makes them mobile."
Curbee reports that roughly 37% of dealership service work can be completed outside a traditional service bay by a mobile technician at the customer’s home or office. That is reshaping how forward-thinking operators think about service-lane capacity, retention and growth.
For Paragon Honda, Paragon Acura and White Plains Honda, it also represents an opportunity to deliver the convenience customers increasingly expect. The group’s adoption of the Curbee platform further reinforces the group’s reputation for innovation and leadership in fixed operations, such as its leading e-commerce parts operation.
“We’re not interested in defending the old service model,” said Brian Benstock, Vice President and General Manager for Paragon Honda, Paragon Acura and White Plains Honda. “Customers expect convenience, speed, and flexibility, and we intend to lead the industry in delivering it. Curbee gives us the technology and operational foundation to scale mobile service the right way, while unlocking capacity across our stores.”
Mobile Service as a Capacity Strategy
The Paragon group has built its reputation by anticipating where customers are going — not where the industry has been. That same instinct drives its partnership with Curbee.
According to Curbee’s The16 report, the average American driver passes 16 independent repair shops before reaching a franchised dealership, creating 16 opportunities to lose the service relationship. The antidote is not a better waiting room. It is meeting the customer where they are.
“The reality is undeniable,” Benstock said. “Thirty-seven percent of the work coming through a dealership service drive today can be performed directly in the customer’s driveway. Mobile service is not just a convenience play, it is a capacity strategy. We can move the right jobs out of the service lane, open our bays for more complex work, and deliver the kind of experience today’s owners expect.”
Paragon Honda has been recognized as the No. 1 Honda Certified Pre-Owned dealer in the world for 16 consecutive years, from 2008 through 2024. The group also holds multiple Honda and Acura President’s Award and President’s Award Elite distinctions. That track record of retail leadership informs how the group approaches mobile service: not as an experiment, but as an operational extension of a proven customer experience model.
Why Curbee
Curbee’s M.A.R.S. platform (Mobile and Remote Service) is purpose-built for franchised dealerships. The Paragon group selected Curbee for:
Intelligent appointment scheduling that accounts for job type, technician skill sets, parts availability, and live traffic to minimize drive time and maximize productivitySeamless DMS (dealership management system) integration that keeps mobile operations fully connected to the dealership’s existing workflowsAutomated customer communications that deliver a modern, transparent service experienceA proven track record of helping dealers launch, scale and build profitable mobile programsAI-powered scheduling and analytics that give dealerships real-time visibility into performance Curbee already powers mobile service for leading OEMs including General Motors, Stellantis and Volkswagen, and for dealership groups including Group 1 Automotive, Lithia & Driveway, Hendrick Automotive Group and Sonic Automotive.
“What the Paragon and White Plains group has built in fixed operations is extraordinary,” Curbee’s Chandarana said. “We’re proud to partner with them to deliver that same standard of excellence directly to their customers, wherever they are.”
About Curbee
Curbee is the No. 1 mobile service platform. Curbee enables dealerships to offer mobile service with its platform called M.A.R.S. (Mobile and Remote Service). With M.A.R.S., it's simple: dealerships send the right van to the right job, using the right route with the right parts, at the right time.
The company’s street credit comes from in-market experience and best practices. With Curbee’s software, solutions and success team, dealers can scale mobile service quickly, delivering a game-changing customer experience while driving revenue growth. Curbee’s innovative technology supports AI-powered scheduling & analytics, ensuring dealers efficiently “go mobile.” Curbee’s team has highly relevant experience from Tesla, Toyota, Ford and Roadster and is backed by DVx Ventures, a venture studio with a unique approach to company creation and scaling. For more information, visit www.curbee.com.
About Paragon Honda, Paragon Acura, and White Plains Honda
Paragon Honda, Paragon Acura and White Plains Honda are the No. 1 Honda dealership operation in the United States, headquartered in Queens, New York. Paragon Honda has been recognized as the No. 1 Honda Certified Pre-Owned dealer in the world for 16 consecutive years and is a multiple-time recipient of Honda’s President’s Award Elite distinction. The group is led by Brian Benstock, VP and General Manager, and is known for pioneering a “Future Is Frictionless” approach to retail — centered on trust, transparency, and convenience — including a pickup-and-delivery program that has completed more than 200,000 transactions.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/70a3215e-c151-4478-bd50-5ce1688fd6b5
Paragon Honda, Paragon Acura, and White Plains Honda partner with Curbee to launch mobile service ac... Leading New York dealership group becomes first Honda and Acura retailer in the U.S. to deploy Curbe...
The Honda logo is displayed, at the 46th Bangkok International Motor Show in Bangkok, Thailand, March 24, 2025. REUTERS/Chalinee Thirasupa Purchase Licensing Rights, opens new tab
CompaniesMay 29 (Reuters) - Honda Motor (7267.T), opens new tab is recalling 98,892 vehicles in the United States over a defect involving unintentional deployment of air bags, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Friday.
Here are a few more details:
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The recall includes certain Honda Acura TLX, Accord Hybrid, and 2022 Accord vehicles, the auto regulator said.
The regulator said the issue arises from a front passenger seat weight sensor that may crack and short circuit.
Due to the issue, airbags may unintentionally deploy despite the presence of occupants like an infant in child seat or a child, for whom deployment should have been suppressed.
As a part of the remedy, dealers will replace the seat weight sensors at no cost, NHTSA said.
Reporting by Mihika Sharma in Bengaluru; Editing by Subhranshu Sahu
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Honda charitable giving totals over $15 million during annual funding cycle Funding supports 271 programs in five key CSR pillars: Education, Environment, Mobility, Traffic Safety and Community Contributions build on a commitment by Honda to drive long-term sustainable impact in communities , /PRNewswire/ -- From preparing students for careers in advanced manufacturing to addressing food insecurity, Honda and the Honda USA Foundation are supporting programs that empower the communities near Honda operations in the U.S. This funding cycle, Honda and the Honda USA Foundation provided more than $15.2 million to 271 nonprofit and school-led programs, expected to positively impact more than 45 million people.
Honda supports Rosie Explores Manufacturing, a nationwide STEM program that helps foster the future manufacturing workforce by providing hands-on experiences for elementary and middle school students. In 2026, Honda and the Honda USA Foundation are providing more than $15.2 million to 271 nonprofit and school-led programs, expected to positively impact more than 45 million people. "Honda and the Honda USA Foundation are committed to supporting programs that make people's lives better," said Marcos Frommer, department lead of Corporate Social Responsibility at American Honda Motor Co., Inc. "Whether it's helping families meet essential needs or expanding access to mobility, our funding contributes to initiatives that strengthen communities nationwide."
Honda corporate social responsibility (CSR) contributions are made to programs aligned with five strategic pillars: Education, Environment, Mobility, Traffic Safety and Community. The programs below highlight how this year's charitable giving is making a difference in communities across the U.S.
Education
To help solve tomorrow's challenges, Honda supports education programs that spark creativity and innovation in industry-relevant fields.
Guilford Technical Community College (GTCC) Aerospace Manufacturing Engineer Program in the Piedmont Triad region of North Carolina prepares students for roles in advanced aerospace manufacturing and production design. Funding from Honda will support equipment purchases and help secure additional faculty to welcome the program's first class of high school students. Rosie Explores Manufacturing is a nationwide STEM education program. Honda funding helps foster the future manufacturing workforce by introducing elementary and middle school students to hands-on experiences, equipping them to succeed in the AI-driven manufacturing environments of the future. Environment
Honda supports programs that help reduce and prevent carbon emissions, generate clean energy and conserve vital resources, such as water and electricity, improving the quality of life for communities nationwide.
The Circle East District initiative is revitalizing a distressed, historic neighborhood in East Cleveland through sustainable commercial and residential redevelopment, home repairs, infrastructure and streetscape improvements. With support from Honda, rooftop solar panels will be installed on five existing owner-occupied residences, helping ensure more equitable energy costs for new and existing residents. The Kingman Rangers job training initiative, in Washington, D.C., prepares out-of-work adults for entry-level jobs in the green sector while beautifying the Kingman and Heritage Islands, home to rare ecosystems, including tidal freshwater wetlands and tidal swamp forests. Funding from Honda will support ongoing preservation efforts and educate community members about the importance of environmental stewardship. Traffic Safety
Building on its "Safety for Everyone" approach, Honda supports programs that promote safe driving, biking and pedestrian practices, awareness and education.
The In One Instant Program equips teens with vital skills to stay safe as drivers, passengers, bicyclists, skaters and pedestrians. Support from Honda will help fund videos, learning guides and hands-on activities that educate young drivers about the consequences of distracted, reckless and impaired driving. The ThinkFirst for Safer Roads for Parents of Teen Drivers addresses a leading cause of traumatic injury and death among young people: motor vehicle crashes. Honda funding will support the development and expansion of evidence-based programming to reduce preventable injuries and save lives through education and sustained behavior change. Mobility
The Honda USA Foundation supports programs that remove barriers to mobility and expand access and opportunities for individuals with disabilities. Funding will support mobility modifications, therapeutic and adaptive services, and comprehensive care support services.
EmpowHer Camp in New York provides girls with disabilities ages 13-18 with the opportunity to experience adventure, independence and personal growth in an accessible wilderness environment. The Honda USA Foundation grant will support adaptive outdoor activities that build confidence and independence, as well as educational programming that teaches practical life and leadership skills, including public speaking, self-advocacy and teamwork. Guide Dogs for the Blind Orientation and Mobility Immersion (OMI) Program offers training in Orientation and Mobility (O&M) and daily living skills to those who are blind or visually impaired to improve their mobility and independence. Funding will support classes held by O&M specialists to ensure that those with little or no vision have the mobility skills they need to live fulfilling, independent lives. Community
Honda invests in community partners that provide umbrella food security and social services to address critical needs in the communities where Honda associates live and work.
Through its partnership with Feeding America®, Honda will support local partner food banks that aim to end food insecurity and make access to healthy food easier. Honda will partner with local United Ways to advance health, enhance financial stability, and address societal needs for local communities. The full list of organizations receiving funding is available here. Honda and the Honda USA Foundation open their annual programmatic funding cycle each fall, with funding decisions made the following spring. To learn more, visit https://csr.honda.com/funding.
About Honda Corporate Social Responsibility and the Honda USA Foundation
For more than 65 years in the U.S., Honda has been committed to making positive contributions to the communities where its associates live and work. The company's mission is to create products and services that help people fulfill their life's potential, while conducting business in a sustainable manner and fostering an inclusive workplace. Advancing its corporate social responsibility, Honda and the Honda USA Foundation support this direction through giving focused on education, the environment, mobility, traffic safety, and community.
Learn more at https://csr.honda.com/.
Notice: Although the information included in this press release is accurate as of the date of publication, this information is subject to change at any time without notice. American Honda Motor Co., Inc. assumes no responsibility for updating this information.
SummaryCompaniesRetired executives blamed Mibe for China neglect, EV misstepsHonda board backed Mibe despite pressure on him to step downIndependent directors on Japanese boards have reduced influence of corporate alumniHonda has been battered by U.S. tariffs and rising competition from ChinaTOKYO, June 9 (Reuters) - Late last year, a handful of retired Honda Motor executives started meeting privately to discuss the Japanese automaker's troubles and the person they believed was the cause: Chief Executive Toshihiro Mibe.
Over months of text messages, as well as meetings and meals that sometimes included current executives, they laid out a case against the former engineer, according to a written summary of their discussions reviewed by Reuters and interviews with two participants.
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They blamed Mibe for neglecting China, the world’s biggest auto market, and making a "failed" bet on electric vehicles that would leave Honda with its first annual loss in seven decades. They accused him of paying more attention to Honda’s golf sponsorship than its business.
By April, the old guard had had enough. Former chief executive Nobuhiko Kawamoto, a participant in some of those conversations, visited Tokyo headquarters and told Mibe to resign, three people familiar with that meeting told Reuters.
Mibe, who remains in his role, didn’t budge.
The crisis at Honda is emblematic of the challenges facing traditional carmakers everywhere, though Japan's industry is hard hit. Its automakers are reliant on the U.S. market, where profits are being squeezed by President Donald Trump's tariffs and rollback of EV subsidies. Japanese consumers, meanwhile, have shown little appetite for EVs, which comprise a sliver of that market.
Honda and others face the expensive balancing act of defending their legacy businesses while developing EVs to compete elsewhere. Chinese firms have come to dominate the EV sector with cheap, software-laden vehicles that are rolled out in a fraction of the time it takes the Japanese, who have spent decades focused on reliability through painstaking manufacturing systems.
Honda last month backtracked on Mibe’s pledge to go all electric by 2040 and wrote down some $9 billion in EV-related costs after scrapping three cars in development. The total hit could come to $12 billion. That follows rivals including Ford, GM and Nissan, which have collectively written off more than $25 billion as they cancelled plans for new EV models and assembly lines.
This account of the leadership missteps and turmoil at Honda is based on a review of discussions among its alumni, as well as interviews with a dozen people, including current and former executives and key suppliers. It shows how Mibe has survived - at least for now - due to the backing of the board, even as he has lost the support of heavyweight former executives.
Honda said in a statement issued in response to Reuters questions that it had no knowledge of discussions by former executives. The company was working with suppliers to improve the car business through cost control and reallocation of resources, it said, while also deploying features like the latest driver-assistance software.
The carmaker also said that sports sponsorship was handled appropriately to enhance its brand and fulfill corporate social responsibility requirements.
Mibe, who became CEO in 2021, will accept a 30% pay cut for three months to take responsibility for the annual loss.
Kawamoto, the former chief executive, confirmed he met with Mibe but declined to comment further. He retains significant influence and has previously intervened in crises to force out a successor.
Just a year after a potential merger with Nissan foundered, Honda is at a critical point. The automaker says it is the world's largest maker of engines – powering everything from snowblowers to jets – yet its legacy of storied engineering may not be enough.
"I don't know the way out for them," said Jeffrey Rothfeder, author of the book "Driving Honda."
"Definitely in short order, it's going to be too late to turn it around."
Charts shows annual operating profit for Honda's car and motorcycle businesses.NEGLECTING THE ‘ACTUAL PLACE?’Honda has long carried the imprint of its late founder, Soichiro Honda. The blacksmith’s son was fiercely independent, hot-tempered and obsessed with engines.
His company developed two of the world's bestselling cars, the Civic and the Accord. It is also responsible for the Super Cub, the most popular motorcycle of all time.
Honda's old guard, however, worried the values of the "Oyaji," or old man, were being forsaken under Mibe, their communications show.
A key to Honda’s success has been a focus on the “genba,” or the “actual place” where work gets done. At Honda, that means salesrooms, factory floors and the roads where its products are used. Losing sight of it is an unpardonable sin for managers.
"The CEO does not see conditions on the ground or listen to customers, and doesn't go to the genba," the alumni said, according to the summary. "Senior management, including the CEO, do not visit the genba. Example: China."
While China's zero-COVID policy meant such trips were off-limits for part of Mibe's tenure, he has seldom visited since becoming CEO, according to one source. He has been an infrequent participant in China's annual auto show, the industry's biggest event and regularly attended by rival bosses.
During Mibe’s tenure, Honda's share of the Chinese market nosedived, falling from 8% in 2020 to less than 3% last year.
Honda said the focus on the genba remained at its core, even as it worked to become more competitive in a changing market. It declined to specify how many times Mibe had visited China but said that travel was conducted as necessary.
Mibe, the alumni argued, was too focused on Honda’s golf sponsorship, including playing rounds with Akie and Chisato Iwai, pro sisters supported by the company.
Mibe’s communication didn't always help his case. For instance, his defense of the EV-first strategy sometimes came across as tone-deaf and damaged morale, according to the executives.
In some ways, that stubbornness reflected Honda.
"Honda always wants to do everything on its own," said Koji Endo, chief executive analyst at SBI Securities. "This time, in the end, it did not go well at all."
Mibe this year turned down a proposal from a Japanese bank to hive off the EV business, according to a person familiar with those discussions.
External investment would have eased the burden of the struggling operation, but the CEO said Honda would fix the EV business itself, according to the person.
Mibe told Reuters last month that the move had been considered but "we've stopped pursuing that line of thinking for now."
Honda's independent streak also played out in China. Toyota and Nissan have already been working more closely with partners on EVs tailored to the specifications of local drivers. Honda only said this year it would do the same.
BACKED BY BOARDBy the time Mibe met with Kawamoto in April, the nominating committee of Honda's board had already decided he could stay on, one of the sources said.
Like many Japanese firms, Honda has in recent years created board committees with more outside directors as regulators push to improve corporate governance. That has reduced the influence of retired bosses, according to another person familiar with the automaker.
Honda’s nominating committee consists of Mibe and four outside directors, although he will step down from it later this month.
The carmaker did not respond when asked if Mibe participated in the committee’s discussions about his future beyond saying that top appointments were determined appropriately. The committee's chairperson did not respond to a request for comment.
Mibe has since outlined a plan to revive the cash-burning auto business, including shaving 30% off the cost of new hybrid powertrains.
Two executives at Honda suppliers in Japan, however, told Reuters they hadn't been consulted on potential cost-savings.
The auto unit's performance has hit more than just the bottom line. Tensions inside Honda deepened as staff at the motorcycle division - which made a record $4.6 billion profit last year - came to feel they were subsidizing the car business, the people said.
In an act that could help revitalize the culture of innovation the automaker prides itself on, Mibe in February shifted auto-development engineers from Honda itself back to an R&D subsidiary.
That undid a shake-up made before Mibe’s tenure, which eroded the independence engineers had enjoyed for decades, said Rothfeder. "They lost thousands of important R&D players who didn't want to work with marketing departments."
Some of the former executives expressed concern that engineers have since lapsed into bad habits, such as outsourcing component design to suppliers, the summary of their discussions shows. That made it harder to control costs, they said.
"Honda's ability to develop cars has declined, yet costs have not," said Endo.
Reporting by Norihiko Shirouzu in Austin, Texas, Daniel Leussink and Maki Shiraki in Tokyo; Additional reporting by Qiaoyi Li in Beijing; Writing by David Dolan; Editing by Katerina Ang
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Daniel Leussink is a correspondent in Japan. Most recently, he has been covering Japan’s automotive industry, chronicling how some of the world's biggest automakers navigate a transition to electric vehicles and unprecedented supply chain disruptions. Since joining Reuters in 2018, Leussink has also covered Japan’s economy, the Tokyo 2020 Olympics, COVID-19 and the Bank of Japan’s ultra-easy monetary policy experiment.
The 2017 Honda Ridgeline is unveiled at the North American International Auto Show in Detroit, January 11, 2016. REUTERS/Mark Blinch/File Photo Purchase Licensing Rights, opens new tab
CompaniesJune 10 (Reuters) - Honda Motor America (7267.T), opens new tab has recalled 880,514 vehicles in the United States over the failure of rear suspension components in the vehicles, the National Highway Traffic Safety Administration (NHTSA) said on Wednesday.
The recall includes certain Honda Pilot, Ridgeline, Passport, Acura MDX vehicles, the NHTSA said.
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The vehicles can experience failure of rear suspension components, such as the rear control arm which could lead to the loss handling and control, increasing the risk of a crash or injury.
As a remedy for the recall, dealers will inspect the rear subframe and install a rear subframe reinforcement kit and, as necessary, repair or replace the rear subframe components, free of charge.
Reporting by Gursimran Kaur in Bengaluru; Editing by Nivedita Bhattacharjee
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ToplineHonda is recalling hundreds of thousands of trucks and SUVs, including over 463,000 Honda Pilots, over a problem that could cause the vehicles’ rear subframes to corrode and cause drivers to lose control, the National Highway Traffic Safety Administration said.
A problem with the vehicles’ rear suspension could cause components to corrode, which could cause problems for drivers.
Copyright 2021 The Associated Press. All rights reserved.
Key FactsA total of 880,514 vehicles are impacted by the recall, the NHTSA said in a notice, which also include 2017-2023 Honda Ridgelines, 2019-2023 Honda Passports and 2014-2020 Acura MDXs.
More than half of the vehicles facing the recall are Honda Pilots, the manufacturer’s midsize SUV, with the model dates 2016 through 2022, according to a recall report.
The impacted vehicles were sold in 22 states: Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia and Wisconsin, as well as the District of Columbia.
According to the NHTSA, these vehicles have rear subframes that could corrode at mounting points, causing suspension components like the rear control arm to fail and put the driver at risk for losing control of the vehicle.
There have been no reports of deaths, injuries or warranty claims related to the subframes as of May.
Surprising FactAll of the vehicles impacted by the recall were sold in the so-called “salt belt,” the region of the U.S. where roadways are frequently treated with de-icing salt during the winter months. Some of the vehicles sold might face “premature paint peeling,” an NHTSA recall report found, which could cause premature corrosion in regions that rely heavily on road salt. Drivers of impacted vehicles should watch for “abnormal noise or vibration” coming from their rear suspensions as a warning sign for a potentially corroding subframe, the NHTSA said, and monitor changes in how their vehicle handles.
What to Watch ForNotification letters for owners of impacted vehicles are expected to be mailed by July 7, the NHTSA said. Owners will then be asked to take their vehicles to authorized Honda or Acura dealers to install a reinforcement kit and repair or replace any damaged components.
Honda is recalling more than 880,000 SUVs and pickup trucks in the U.S. because a key rear suspension part can rust and fail, increasing the risk of a crash.
The recall covers 880,514 vehicles, including certain 2016-2022 Honda Pilot, 2017-2023 Honda Ridgeline, 2019-2023 Honda Passport and 2014-2020 Acura MDX models, according to the National Highway Traffic Safety Administration (NHTSA).
The issue involves the rear subframe, a structural component underneath the vehicle that helps support the rear suspension. In states where road salt is commonly used during winter, the rear subframe may corrode over time.
The recall covers 880,514 vehicles. (Justin Sullivan/Getty Images)
"As the corrosion progresses, material thinning and driving vibrations could cause the mounting area to fracture and fail," NHTSA said.
MORE THAN 1 MILLION JEEP VEHICLES RECALLED OVER FIRE RISK AS OWNERS WARNED NOT TO PARK INSIDE
Drivers may notice abnormal noises or vibration from the rear suspension, as well as changes in vehicle handling while driving, the agency added.
The affected vehicles were sold in states including Connecticut, Illinois, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, Wisconsin and Washington, D.C., among others, according to NHTSA.
KIA RECALLS 6K VEHICLES DUE TO POSSIBLE SEAT BELT DEFECT THAT COULD RAISE INJURY RISK
Ticker Security Last Change Change % HMC HONDA MOTOR CO. LTD. 26.44 -0.63 -2.33% Honda dealers will inspect the rear subframe and install a reinforcement kit. If necessary, they will also repair or replace rear subframe components at no cost to owners.
The automaker said it had received no reports of injuries or deaths in the U.S. related to the issue as of May 28.
Honda shares were down 1% in late afternoon trading and are down more than 10% year to date.
SUBARU RECALLS NEARLY 70,000 SUVS AFTER MOONROOF PANELS DETACH WHILE DRIVING
A view of a Honda Passport SUV in Walnut Creek, California, on Jan. 30, 2020. (Smith Collection/Gado/Getty Images)
The recall comes after Honda announced last month that it was recalling nearly 99,000 vehicles in the U.S. over a separate defect that could cause airbags to deploy unexpectedly during a crash.
The Honda logo is seen on the wheel of a car, on the forecourt of a Honda dealer in Brighton southern England April 6, 2011. Honda Motor said it would cut UK manufacturing volumes by half from... Purchase Licensing Rights, opens new tab Read more
CompaniesJune 11 (Reuters) - Honda Motor America (7267.T), opens new tab is recalling 1,049,883 vehicles in the United States due to a defect in the tyre repair kit, the National Highway Traffic Safety Administration (NHTSA) said on Wednesday.
The issue involves a faulty sealant bottle, in which pressure can build up, potentially causing the cap to detach and become a projectile, the regulator said.
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The recall includes certain Honda Accord Hybrid, CR-V Fuel Cell EV, and CR-V Hybrid vehicles, the U.S. safety regulator said.
As a remedy for the recall, dealers will replace the tire repair kit nozzle or sealant bottle, free of charge.
Reporting by Anusha Shah in Bengaluru; Editing by Sherry Jacob-Phillips and Rashmi Aich
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