Global carmakers have booked over $70 billion in writedowns in the past year as they scale back electric vehicle ambitions on a tough US market under President Donald Trump, price wars in China and a more complex mix of vehicle types in Europe. The latest to join the growing pile is Japan's Honda, which on Thursday said it expected a hit of $15.7 billion over the next few years to restructure its EV business.

Source: Economic Times March 13, 2026 14:32 UTC