<div id="readability-page-1">Historic financial setback: Honda recorded a $2.6 billion annual loss, its first in nearly 70 years, due to EV-related write-downs, tariffs, and weaker demand. Strategic EV retreat: The company scrapped 2030 and 2040 EV targets, paused a major Canadian EV project, and will prioritize hybrids and cost reductions. Profit recovery plan: Honda expects a 500 billion yen profit next year, supported by motorcycle sales growth in India and Brazil and aggressive cost control.</div>

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<p>Honda reported a $2.6 billion annual loss, its first in nearly 70 years, attributed to EV-related write-downs and weaker demand. The company has scrapped its 2030 and 2040 EV targets and paused a major Canadian EV project, shifting focus to hybrids and cost reductions. Honda anticipates a profit of 500 billion yen next year, driven by motorcycle sales growth in India and Brazil.</p>

Honda posts first loss in 70 years, slashes EV targets