News
Honda’s 0 Series Has Been Scrapped Due To Declining Demands For EVs
They were announced with much fanfare, but they didn’t make it to production. Honda is halting development of the electric Honda 0 Saloon and Honda 0 SUV. The reason: declining demand for electric cars.
The Honda 0 Saloon, announced alongside that electric SUV, also has no future. Honda is halting development of the two electric models and simultaneously scrapping the development and introduction of the Acura RSX.
Honda explains that the elimination of the 0 Saloon, 0 SUV, and Acura RSX is related to improving the company’s financial situation as quickly as possible. Honda says it considered several options, but ultimately had no choice but to cut the three electric models from its automotive lineup before they were released. Honda’s profits are currently declining, partly due to US import tariffs and a weakened competitive position in Asia. Honda explains that the latter is due to the significant investment it made in developing electric cars.
As a result of the above, Honda expects a massive write-down on its balance sheet of up to 2.5 trillion yen, equivalent to more than 13.5 billion euros.
-
Read More: Honda Reports Billion-Dollar Losses
-
Car Theft1 week agoMan Flees With Stolen Tundra During Test-Drive, Crashes Into Lagos Canal After Damaging Dozens Of Vehicles
-
News1 week agoThe Toyota Mirai Is Turning Out To Be The Worst Resale Value Car The Company Has Ever Made
-
Celebrities Auto7 days agoLionel Messi Just Ordered Sunreef’s ULTIMA 88 Luxury Yacht, Worth Up To $10.7 Million
-
News1 week agoThe New Electric Jaguar Type 01 Has Reportedly Received 50,000 Orders
-
News1 week agoBMW Considers New Flagship SUV To Sit Above The X7, Specifically For US Market
-
News5 days agoOMODA & JAECOO Strengthen European Presence, Record 73,421 Global Sales
-
News7 days agoAlfa Romeo Cuorerosso Concept Debuts With 2+2 Coupé Design, 2.9L V6 Full-Hybrid Powertrain
-
News1 week agoBMW Is Bringing The V8 Back In Another Model