{"id":122793,"date":"2026-03-13T21:45:57","date_gmt":"2026-03-14T00:45:57","guid":{"rendered":"https:\/\/automotive.einnews.com\/article\/899276471"},"modified":"2026-03-13T21:45:57","modified_gmt":"2026-03-14T00:45:57","slug":"global-carmakers-book-70bn-hit-from-ev-rollbacks","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/03\/13\/global-carmakers-book-70bn-hit-from-ev-rollbacks\/","title":{"rendered":"Global carmakers book $70bn hit from EV rollbacks"},"content":{"rendered":"

Global carmakers have booked more than $70bn (R1.18-trillion) 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.<\/p>\n

The latest to join the growing pile is Japan\u2019s Honda, which on Thursday said it expected a hit of $15.7bn over the next few years to restructure its EV business. CEO Toshihiro Mibe<\/a> said the group would focus on hybrids, echoing moves by peers Stellantis, Ford, General Motors and Volkswagen, which backtracked on their EV ambitions or launched new combustion engine models.<\/p>\n

Legacy carmakers are struggling to keep up with new entrants, especially from China, and watered-down electrification targets in Europe and, in particular, the US, a key market where the EV shift has stalled sharply.<\/p>\n

Honda<\/h3>\n

Japan\u2019s second-largest carmaker said on March 12 it expects to lose \u00a52.5-trillion (about R265bn) over the next few years as it scraps the development of some planned EV models.<\/p>\n

It added that it expects to lose as much as \u00a5570bn in the year to the end of March, versus a previous forecast for a profit of \u00a5550bn.<\/p>\n

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Honda said it expects to lose \u00a52.5 trillion (R265,884,210,000) over the next few years. <\/span><\/figcaption><\/figure>\n

Stellantis<\/h3>\n

On February 6 the Franco-Italian carmaker booked its huge writedown, the biggest yet, which it said was linked to rejigging its product lineup to meet consumer demand and new emission regulations in the US.<\/p>\n

The write-down includes payments of approximately \u20ac6.5bn (R125,9bn) expected to be made over the next four years.<\/p>\n

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The Stellantis writedown includes payments of about \u20ac6.5bn expected to be made over the next four years. <\/span>(Mauro Ujetto\/NurPhoto via Getty Images) <\/span><\/figcaption><\/figure>\n

Ford<\/h3>\n

The Dearborn, Michigan-based company said in December it would take a $19.5bn writedown and end several EV models, and pivot hard into ICE and hybrid models instead.<\/p>\n

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Ford will take a $19.5bn writedown and end several EV models. <\/span>(Rebecca Cook) <\/span><\/figcaption><\/figure>\n

General Motors<\/h3>\n

The largest US carmaker by sales said in January it would take a $6bn charge to unwind some EV investments, including a $4.2bn cash charge related to contract cancellations and settlements with suppliers.<\/p>\n

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GM will take a $6bn charge to unwind some EV investments. <\/span>(Bill Pugliano\/Getty Images) <\/span><\/figcaption><\/figure>\n

Volkswagen\/Porsche<\/h3>\n

Volkswagen, Europe\u2019s top carmaker, said last September it would take a \u20ac5.1bn hit from a far-reaching product overhaul at its Porsche unit, which delayed some EV models in favour of hybrids and combustion-engine cars.<\/p>\n

That included an impairment charge of about $3.5bn.<\/p>\n

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Volkswagen will take a \u20ac5.1bn hit from a far-reaching product overhaul at its Porsche unit. <\/span>(Matthias Rietschel) <\/span><\/figcaption><\/figure>\n

Reuters<\/b><\/p>\n

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<\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

… article via LinkedIn Global carmakers<\/span> have booked more than … combustion engine models. Legacy carmakers<\/span> are struggling to keep … February 6 the Franco-Italian carmaker<\/span> booked its huge writedown, the … Volkswagen, Europe\u00e2\u0080\u0099s top carmaker<\/span>, said last September it …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-122793","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/122793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=122793"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/122793\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=122793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=122793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=122793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}