---
title: "Honda’s Profits Plunge 61%, Dialing Up Fleet Sales: TDS"
date: "2026-02-10"
modified: "2026-02-10"
authors:
  - name: "Joel Feder"
    job_title: "Director of Content and Product"
    link: "https://www.thedrive.com/authors/joel-feder"
url: "https://www.thedrive.com/news/hondas-profits-plunge-61-dialing-up-fleet-sales-tds"
categories:
  - "News"
  - "The Downshift"
---

# Honda’s Profits Plunge 61%, Dialing Up Fleet Sales: TDS

![2023 Honda CR-V front badge](<https://www.thedrive.com/wp-content/uploads/2026/02/17-2023-Honda-CR-V-EX-L-copy.jpg>)
*\<em\>Honda\</em\>*

Good morning and welcome to *The Downshift*, or *TDS* for short.

Quick, dense, and lacking fluff, *TDS* gathers the latest automotive headlines from around the globe and puts them in one place. Stories are summarized in a single sentence accompanied by a link for those seeking more information.

I'm still on the first cup of coffee here, but let's just get into it.

🚘 What I’m driving: The 2026 Mazda CX-70 left and was replaced by a 2026 Lexus NX 350h F Sport. Immediate impressions for the few miles I've driven this hybrid? The powertrain is buzzy, the fire-engine red paint is bright, the red and black interior is an interesting choice in a Lexus, and the front seats have surprisingly snug bolsters.

💸 [Honda reported third-quarter losses](<https://www.autonews.com/honda/an-honda-ev-losses-strategy-review-3q-earnings-financial-results-0210/?utm_id=gfta-ur-260210&share-code=ZWFUFE3LFBHA3E3URSLHJ5VQJ4&user_id=4532198&customer_secondary_source=aac_articleGifting>) as profits plunged 61% on mounting charges from EVs and global sales falling 15% with U.S. sales specifically falling 18%; Honda plans to revise its future EV strategy, increase incentive spending, and dial up fleet sales, the latter of which it's never really focused on before.

🐎 Ferrari [reported higher fourth-quarter earnings](<https://www.bloomberg.com/news/articles/2026-02-10/ferrari-profit-beats-views-on-product-mix-outlook-boosts-shares?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTc3MDcyNTYwNCwiZXhwIjoxNzcxMzMwNDA0LCJhcnRpY2xlSWQiOiJUQTZRR0lUOU5KTFMwMCIsImJjb25uZWN0SWQiOiIyMUExODI4ODMwMDg0OTcwOUFBM0U3NTEyOEUzQUFCMyJ9.13c0Ir1ditnQvZlHQM8XAykfzza-ivyhrxXSxdaGSGk>) than expected attributed to improved product mix and demand for customized cars, which offset slower deliveries.

😬 [Lincoln dealers are worried](<https://www.autonews.com/ford/lincoln/an-nada-lincoln-consolidation-product-plan-0209/?utm_id=gfta-ur-260210&share-code=ZCTZRPPKUFFQHAFVQXXEJYDXCU&user_id=4532198&customer_secondary_source=aac_articleGifting>) about losing customers, and profits, as the automaker's price-point crossover, [the Corsair, dies](<https://www.thedrive.com/news/fords-decision-to-kill-the-escape-could-cost-half-of-its-small-crossover-sales>); the plan to retain Corsair customers includes boosting production of the base Premier trim of the midsize Nautilus and privately offering thousands of dollars to current customers to move up to the larger, more expensive SUV.

📈 Genesis is aiming for another U.S. sales record but [dealers are asking for](<https://www.autonews.com/events/nada-show/an-nada-genesis-make-meeting-record-sales-0206/?utm_id=gfta-ur-260210&share-code=KH47JE4BHBAXND3WWET6A7F4TU&user_id=4532198&customer_secondary_source=aac_articleGifting>) hybrids and more marketing and advertising support.

🔋 The [2026 Volvo EX90 lineup added](<https://www.caranddriver.com/news/a70271902/2026-volvo-ex90-single-motor-price/>) a new less expensive single-motor rear-wheel drive base model.

🇯🇵 Suzuki now has its own [Toyota RAV4 variant called the Across](<https://www.motor1.com/news/786798/suzuki-across-new-toyota-rav4/>).

💰 Volvo CEO Håkan Samuelsson said [he's not upset about President Trump's tariffs](<https://insideevs.com/news/786800/volvo-ceo-tariff-comments/>) and isn't too worried about the situation.

🚨 Jaguar Land Rover [recalled 2,278 I-Pace electric SUVs](<https://www.reuters.com/business/autos-transportation/jlr-recall-2278-electric-suvs-us-over-fire-risk-warning-nhtsa-says-2026-02-10/>) in the U.S. due to the high-voltage battery potentially overheating, which could lead to a fire.

🚕 Waymo [launched in Nashville, Tennessee.](<https://www.reuters.com/business/autos-transportation/waymo-goes-fully-autonomous-nashville-2026-02-09/>)

👩‍💼 General Motors [hired a new head of strategy from Lucid](<https://www.reuters.com/business/autos-transportation/gm-hires-new-head-strategy-lucid-motors-2026-02-09/>) to lead scouting operations for partnerships with technology companies.

*Got a news tip or feedback? Drop us a line at tips@thedrive.com*

## Author
Overseeing what you see, read, touch, hear, and interact with from the vast lakes of Minnesota, Joel Feder shapes how The Drive looks and operates as the head of content and product initiatives. On a daily basis, Joel leads the newsroom and editorial staff playing point on both short-term coverage and long-term strategic plans. His mission is to help ensure The Drive shapes the future of automotive media by helping the team execute original reporting, breaking news, and exclusive opportunities. Regarded as an industry insider and recognized by colleagues, fellow journalists, and manufacturers as a point-person and leader in the industry, Joel owns and runs the largest automotive professionals group on Facebook in an effort to serve and help others. Joel serves as a juror for the World Car Awards. In addition, he is the board chair and chair of the governance and nominating committee for Move Forward MN, a local non-profit that helps at-risk youth with barrier-free mental health and housing services. While you’re reading this he’s either on his computer or iPhone chasing the latest news or drafting a story.

### Author social links  
[Instagram](<https://www.instagram.com/joelfeder/>)  
[LinkedIn](<https://www.linkedin.com/in/joelfeder/>)  
[Bluesky](<https://bsky.app/profile/joelfeder.bsky.social>)  
[Email](<mailto:joel@thedrive.com>)