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Honda reports $1.9 billion profit in first quarter despite sales lag at home

Ford, General Motors and Chrysler have been living in a world of sunshine and buttercups after their April-through-June financials hit the newswire, and Toyota is doing pretty good as well. Honda? Not so much.
While Japan's third-largest manufacturer saw $1.9 billion in profits, the 5.1-percent jump was lower than expected thanks to a drop in its home-market sales. US sales also took a sting, as Honda hasn't been able to match the SUV and truck demand that are currently permeating the American market, despite an uptick in Accord sales.
Honda's initial forecasts targeted a take of 209.3 billion yen ($2.1 billion at today's rates), and while a $200 million shortfall is nothing to sniff at, we'd hardly take this as Honda being in trouble. And even with the dip, Honda hasn't adjusted its forecast for the fiscal year, which remains at 780 billion yen ($7.9 billion).

Toyota, Honda, Nissan and more collaborating to increase fuel efficiency

Toyota, Honda, Mazda, Nissan, Subaru, Mitsubishi, Suzuki and Daihatsu have announced an alliance that will see a push to improve fuel economy from both gas-powered and diesel-powered engines by as much as 30 percent before the end of the decade.
The newly assembled Research Association of Automotive Internal Combustion Engines put the roughly $20-million project together, with the Japanese government committing to half the cost while the eight manufacturers will chip in the rest.
According to Automotive News, the automakers will team up and share basic research on internal-combustion engines in a bid to cut costs. Eventually, the results of the research will find its way into a production vehicle, although it's unclear just when we'll see the fruits of this partnership on the road.

Honda Jazz looks like a good fit for Paris

The quirky, utilitarian little hatchback that we know as the Honda Fit in the US carries the more melodious Jazz name in Europe. And while the newest Fit is already on sale in our market, folks are still waiting for it across the pond. Honda is unveiling its new Jazz Prototype to the 2014 Paris Motor Show in October, and it's nearly identical to what is currently on sale in North America. In fact, it's hard to image Honda changing much from this "prototype" before launching it for Europeans.
The Jazz's design is exactly what you would expect after even a glance at the current North American Fit. Except for a different wing at the rear, a shark fin antenna and a new set of wheels, this Jazz plays the same tune we've heard before.
The one thing keeping the Fit and Jazz from truly being identical siblings is that the European model packs Honda's new 1.3-liter i-VTEC Earth Dreams engine under the hood, rather than the 1.5-liter used in North America. But just like our Fit, the Jazz will be available with a six-speed manual or CVT. The Japanese automaker says that the Jazz goes on sale in the summer of 2015. Scroll down to read the company's announcement for its upcoming hatch.