Honda Cancels North American EV Models Amid Strategy Reassessment
- By MT Bureau
- March 16, 2026
Japanese automotive major Honda Motor Co has announced the cancellation of three electric vehicle (EV) models intended for production in North America.
The decision affects the Honda 0 SUV, Honda 0 Saloon and the Acura RSX, which the company stated is due to the changes in the business environment and a reassessment of its electrification strategy.
The company identified several developments impacting its automotive operations:
- Market Demand: A slowdown in the expansion of the US EV market linked to changes in fuel regulations and revisions to incentives.
- Trade Policy: The impact of US tariff policies on the profitability of petrol and hybrid vehicle segments.
- Regional Competition: A decline in product competitiveness in China, where newer manufacturers lead in software-defined vehicle (SDV) technologies and development cycles.
- Resource Allocation: Challenges in delivering value for money in Asia due to the concentration of resources on EV development.
Honda expects to record write-offs, impairment losses on assets, and expenses related to the cancellation of these models. Total losses associated with the strategy reassessment are estimated to reach a maximum of USD 18.5 billion (YEN 2.5 trillion) in the coming years.
Revised Forecast for Fiscal Year Ending 31 March 2026
|
Metric (Billion Yen) |
Previous Forecast |
Revised Forecast |
|
Sales Revenue |
21,100 |
21,100 |
|
Operating Profit |
550 |
-570 to -270 |
|
Profit Before Taxes |
620 |
-650 to -310 |
|
Profit (Parent Owners) |
360 |
-630 to -360 |
Estimates are preliminary as of 12 March 2026.
Despite the revised earnings, Honda will maintain its dividend forecast based on its dividend on equity (DOE) ratio indicator.
Going forward, Honda will reorganise its framework to focus on hybrid models in the US and Japan. The company intends to expand its model lineup and cost competitiveness in India, where market growth is anticipated.
In response to the financial revisions, executive compensation will be reduced:
- President and Vice-President: 30 percent reduction of monthly compensation for three months and forfeiture of performance-linked bonuses.
- Executive Officers: 20 percent reduction of monthly compensation for three months.
Total annual compensation for representative executive officers will decrease by 25 percent to 30 percent.
Automobili Lamborghini Appoints Francesco Milicia As Marketing Director
- By MT Bureau
- July 23, 2026
Italian supercar maker Automobili Lamborghini has appointed Francesco Milicia as its new Marketing Director, effective 1 September 2026. He succeeds Christian Mastro, who has transitioned to the role of CEO of Automobili Lamborghini America.
Milicia brings experience from the automotive sector, having held roles at Ducati within the Volkswagen Group, including management positions in China, Managing Director of Ducati Motor Thailand, Purchasing Director and global responsibility for Sales & After Sales activities.
He holds a degree in Mechanical Engineering from the University of Bologna and an MBA, with executive education from INSEAD, CEIBS and the London Business School.
Federico Foschini, Chief Marketing & Sales Officer of Automobili Lamborghini, said, "We welcome Francesco Milicia to Lamborghini as Marketing Director. His managerial experience, gained in an environment of excellence such as Ducati, combined with the international vision and strategic expertise he has developed throughout his career, will make a valuable contribution to the further strengthening of the brand's positioning and to supporting the development of our global marketing strategy."
Francesco Milicia, said, "Joining Automobili Lamborghini is an honour and a privilege. I have always admired the brand and I am thrilled to contribute to the journey of a company that inspires people around the world through innovation, audacity and uncompromising excellence. I look forward to working alongside the Lamborghini team, learning from their experience and contributing together to writing the next chapter of the brand's growth and success."
Mercedes-Benz India Launches AMG E 53 Hybrid At INR 14.5 Million
- By MT Bureau
- July 23, 2026
German luxury carmaker Mercedes-Benz India has launched the Mercedes-AMG E 53 HYBRID 4MATIC+ in India, available in Performance and Racing Editions priced at INR 14.5 million and INR 14.8 million, respectively (ex-showroom).
The luxury sedan combines a 3.0-litre in-line six-cylinder engine with an electric motor to deliver a system output of 430 kW (585 hp), which increases to 450 kW (612 hp) with the RACE START function, and 750 Nm of torque.
It has a claimed acceleration of zero to 100 kmph in 3.8 seconds and offers an electric-only range of more than 100 km (WLTP) via a 28.6 kWh battery.
Santosh Iyer, Managing Director & CEO, Mercedes-Benz India, said, “The E-Class has been the longest running nameplates in the Indian automotive industry and the AMG E 53 HYBRID 4MATIC+ underlines performance, practical usability and electric efficiency, making the E-Class portfolio truly unmatched. This performance sedan combines genuine AMG performance with plug-in hybrid’s efficiency, balancing an AMG customers need of racetrack performance with practicality of daily usage, perfectly. The AMG E53 Hybrid furthers our ‘powertrain agnostic’ strategy for India, where customers decide the powertrain of their choice, suiting their requirement.”
In addition to the vehicle launch, Mercedes-Benz India has announced a multi-year title partnership with the Indian Padel Tour for the 2026–27 season. The tournament series will feature 19 events across 11 cities, including five Grand Slam events, beginning in Mumbai in August 2026 and concluding in Bengaluru in June 2027. Customers purchasing the AMG E 53 Hybrid will receive direct entry into the Indian Padel Tour Grand Slam.
Range Rover Confirms New Range Rover GT As 5th Model Lineup
- By MT Bureau
- July 23, 2026
Tata Motors-owned British luxury marque Range Rover has announced a fifth addition to its vehicle line-up: the Range Rover GT. It is the first all-electric Range Rover built on the EMA platform, manufactured in Halewood, UK.
The Range Rover GT will be available initially as a battery electric vehicle, with a hybrid electric vehicle option planned for later in the lifecycle. Prototype vehicles are undergoing on-road testing with a camouflage wrap.
The interior features a single screen design paired with a driver display, a concealed air vent running across the width of the cabin and a woven textile wrapping the dashboard.
Martin Limpert, Managing Director, Range Rover, stated, "The Range Rover GT will redefine the grand-touring segment with the ability to deliver beautiful and engaging GT poise, proportions and long-distance refinement while offering capabilities no conventional GT can match. We have spent the last few years working obsessively on the fundamentals of the GT formula, reinterpreted in a sophisticated, uniquely Range Rover way. The result is the most car-like, yet unmistakably capable, Range Rover ever created, now possible on our electrified EMA architecture – complementing our existing powertrain portfolio to deliver a complete set of options for every customer need. Its blend of effortless EV performance, first-class long-haul refinement and all-terrain capability is pure Range Rover; while its calming interior previews our vision of a modern grand tourer."
Further details will be released later in the year.
Honda India Foundation Hands Over Vehicles To Mumbai Police
- By MT Bureau
- July 22, 2026
The Honda India Foundation handed over 101 Emergency Response Vehicles to the Mumbai Police at a ceremony held in Worli, Mumbai. The deployment includes 100 Honda CB350 motorcycles and one Honda Elevate vehicle modified for police use to support patrolling and field response capabilities in Mumbai.
The flag-off ceremony took place in the presence of Mohd. Suvez Haque, IPS, Joint Commissioner of Police (Administration), Mumbai; Piyush Mittal, Vice-President & Operating Head, General Affairs & Corporate Affairs, Honda Cars India; Rajeev Taneja, Operating Officer, Honda India Foundation and representatives from the police and the foundation.
The motorcycles are equipped with sirens, public-address systems, LED emergency lights, front display boards, windscreens and storage boxes. The Honda Elevate has also been customised for police duties.
This deployment forms part of the Honda India Foundation programme, ‘Sadak Sahayak – Surakshit Marg, Surakshit Jeevan.’
With this handover, the foundation has deployed a cumulative 613 motorcycles to support police mobility and field operations across India.
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