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Honda charged another $363 million over Takata airbags

The Takata airbag recall is growing increasingly expensive for Honda. In the latest hit to the automaker's bottom line, the company is revising the expected costs of its global safety campaigns by an additional 44.8 billion yen ($363 million) after the massive expansion in May. Months ago, Honda announced that it had set aside 50 billion yen ($425 million at the time) to meet the predicted expenses. According to Automotive News, due to the rather arcane laws of accounting, these new costs will actually be applied to the fiscal year that ended on March 31, rather than the current one. Honda's revised earnings will be announced in late June. The company previously reported an operating profit of 651.7 billion yen ($5.3 billion), which was down 13 percent from the previous year. There has been no change to planned dividends for investors. In the US, Honda and Acura have a total of about 6.28 million vehicles in need of a replacement airbag inflator, and the automaker says about two million of those are already repaired. In addition to the Takata campaign, the company has faced other financial setbacks during this calendar year. For example, in early January, it received a $70 million fine from the National Highway Traffic Safety Administration for failing to report 1,729 cases of injuries or deaths over 11 years. As part of a strategy to improve quality globally, Honda cut back its global sales forecasts for the coming year, and it also decided not to make any volume predictions through 2017. To: Shareholders of Honda Motor Co., Ltd. From: Honda Motor Co., Ltd. 1-1, Minami-Aoyama 2-chome, Minato-ku, 107-8556 Tokyo Takanobu Ito President and Representative Director Notice of Events after the Reporting Period Regarding Product Warranty Expenses Honda Motor Co., Ltd. (the "Company") and its consolidated subsidiaries have been conducting market-based measures in relation to airbag inflators, such as product recalls and a Safety Improvement Campaign. Due to factors arising since May 2015 such as an expansion of the scope of these market-based measures based on an agreement between our supplier and the U.S. National Highway Traffic Safety Administration, a change has arisen in the estimate relating to product warranty expenses. The amount of product warranty expenses now expected to be incurred is 44,800 million yen.

Techstars Mobility brings transportation startups to Detroit

A new tech incubator is looking to combine the Motor City's automotive history with its evolving tech startup landscape. "Techstars Mobility, Driven by Detroit" kicks off its first round with 10 startups next week. Techstars is an established accelerator network with incubators around the world, and Detroit is a new addition. The projects center around mobility in some form, be it improving vehicles, moving goods, or working cars into the sharing economy in new ways. In return for a percentage stake in each company, Techstars provides mentorship, access to experts, seed money, and a collaborative environment. One startup we're particularly excited about is Motoroso. This site is like Pinterest for the car-obsessed, with boards replaced by garages that can contain photos and links to other projects. The site lets you follow brands – Chevy, Porsche, Ducati, and others already have profiles – as well as other users. For the Autoblog editors, Motoroso provides a new way to share stories, photos, and video, as well as a way to discover new products and interesting DIY projects. Take a look at the Autoblog profile and wander around the site to check things out. Another one of the startups, Classics & Exotics, is helping owners of interesting cars and would-be drivers connect in an Airbnb-style distributed rental program. Think of it as an auction catalog you can drive. Renters can specify the price, mileage, minimum driver age, and availability. Similar to Airbnb, Classics & Exotics provides each vehicle owner with $1 million in liability and damage protection. The company also vets renters for added peace of mind. Sounds like fun, and a cheap way to avoid a costly Craigslist or eBay mistake. Along similar shared-economy lines comes SPLT, a ride-sharing platform that finds people going where you're going and lets you hop in a car and split the costs. It's aimed at commuters but also has great applications for those looking for occasional one-way rides somewhere. SPLT notes that the system is a good way to meet new people – hopefully, good new people. Depending on how well SPLT keeps sketchy rides and riders out of the system, this could be a solid alternative to services like Uber and Lyft. This Techstars Mobility class has backing from corporate sponsors, including Ford, Honda, Magna, Dana, Verizon Telematics (Verizon has an offer pending to buy AOL, our parent company), and McDonald's.

2016 Honda Civic pricing leaks, starts at $18,680 [UPDATE]

UPDATE: Alright, we made a mistake. Turns out this "leak" was actually just a mockup done by a CivicX forum member, and we totally went along with it. Sorry, folks. You'll have to wait a little longer for your hot Civic pricing news. The tenth-generation Honda Civic ranks among the most anticipated new models on the way this year, especially after seeing the concept for the design at the New York Auto Show. Now, we might be getting an idea of what the compact actually offers from two leaked spec sheets. According to info posted on 10th Civic Forum, the 2016 Civic Sedan LX starts at $18,680, which is just $190 more than the same trim for the 2015 model. For that, buyers reportedly get standard features like LED running lights, LED taillights and a five-inch touchscreen infotainment system. The SE (Sport) trim upgrades the suspension for $19,995. The EX includes full LED headlights for $21,200, and the EX-L adds leather upholstery for $22,885. A separate sheet purportedly details the coupe, which comes standard with the sport suspension. The base price is the same as the sedan. The EX starts at $20,145, and the EX-L is $22,870. Oddly, both of these sheets only mention the CVT, rather than the previously announced six-speed manual, but they do detail two engines. There's a 2.0-liter four-cylinder with 165 horsepower and 145 pound-feet that can reportedly get to 60 miles per hour in 7.9 seconds. Fuel economy is listed here as 40 mpg highway, 34 mpg city, and 35.5 mpg combined. There's also the 1.5-liter turbocharged four-cylinder, and this document suggests that it has 167 hp and 191 lb-ft and can get to 60 in 7.6 seconds. Mileage is shown as 41 mpg highway, 35 mpg city, and 37.5 mpg combined. Both mills are pretty good upgrades over the 143 hp and 129 lb-ft from the current 1.8-liter four-cylinder in the Civic. As leaked documents, we can't be entirely sure how valid any of these numbers are, so take them with a grain of salt for now. In any case, the 10th-gen Civic is supposed to hit dealers this fall, and you can read the full specs in the gallery below.