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Honda and Nissan end talks to form a joint venture
Japanese automaker Honda reported a 7% decline in profit for the nine months that ended in December on Thursday as it terminated talks on integrating its business with Nissan.Tokyo-based Honda Motor Co. said its motorcycles business was strong, but its auto sales suffered in China and Japan, while demand stayed solid in the U.S.Honda’s April-December 2024 profit totaled 805 billion yen ($5 billion), down from 869.6 billion yen the same period in 2023.Nine-month sales gained nearly 9% to 16.3 trillion yen ($106 billion).Honda and Japanese rival Nissan Motor Corp., along with the smaller Mitsubishi Motors Corp., said in December that they were in talks to set up a joint holding company.The automakers said Thursday they were ending the talks, although existing collaborations in electric vehicles and smart cars will continue. —Yuri Kageyama, AP Business Writer
Japanese automaker Honda reported a 7% decline in profit for the nine months that ended in December on Thursday as it terminated talks on integrating its business with Nissan.
Tokyo-based Honda Motor Co. said its motorcycles business was strong, but its auto sales suffered in China and Japan, while demand stayed solid in the U.S.
Honda’s April-December 2024 profit totaled 805 billion yen ($5 billion), down from 869.6 billion yen the same period in 2023.
Nine-month sales gained nearly 9% to 16.3 trillion yen ($106 billion).
Honda and Japanese rival Nissan Motor Corp., along with the smaller Mitsubishi Motors Corp., said in December that they were in talks to set up a joint holding company.
The automakers said Thursday they were ending the talks, although existing collaborations in electric vehicles and smart cars will continue.
—Yuri Kageyama, AP Business Writer
