Honda and Nissan are both expecting a huge tariff blow
Honda and Nissan have joined a growing list of Japanese automakers expecting a massive hit from US tariffs.
Honda, which is planning to shift production of its next Civic to the US, forecast a $4.4 billion plunge in operating profit this fiscal year.
Nissan, which produces 45% of the vehicles it sells in the US outside of the US, expects the levies to swell its costs by $3 billion. The struggling automaker is already cutting costs by slashing its workforce.
The automakers aren’t alone in facing a massive import charge impact: the US is five major Japanese carmakers’ top market. Toyota, the world’s largest auto company, penciled in a $1.2 billion charge for April and May alone. Mazda expects a $68 million hit for April.
Nissan, which produces 45% of the vehicles it sells in the US outside of the US, expects the levies to swell its costs by $3 billion. The struggling automaker is already cutting costs by slashing its workforce.
The automakers aren’t alone in facing a massive import charge impact: the US is five major Japanese carmakers’ top market. Toyota, the world’s largest auto company, penciled in a $1.2 billion charge for April and May alone. Mazda expects a $68 million hit for April.
