automotive

US Tariff Policy Causes Concern Among Japanese Automotive Giants, With Honda Being The Most Affected

The sales of renowned automobiles worldwide are significantly influenced by the United States. For many car manufacturers, the U.S. serves as a primary market, contributing over a quarter of their revenue. 

According to data from the Wall Street Journal and Company Reports, Honda exhibits the highest dependency on American consumers among automakers. In 2023, Honda's sales in the U.S. surged by 33 percent, reflecting strong market demand for this Japanese brand. 

To enhance its position in the U.S. market and adapt to the trend of electrification, Honda has undertaken several major strategic initiatives, including investments in Ohio. 

Honda has committed over $1 billion to revamp its manufacturing plant in Ohio to enable the production of gasoline, hybrid, and electric vehicles (EVs) on a single assembly line. Additionally, in collaboration with LG Energy Solution, Honda is investing $4.4 billion to establish a new battery production facility in Ohio. 

Tag: Honda Japanese Automotive US Tariff Policy