Honda and Nissan end talks to form a joint venture

[ResidentialBusiness]

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

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