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Profit at Honda doubles on strong global sales of cars and motorcycles

TOKYO — Honda reported Wednesday that its April-June profit more than doubled on healthy sales of its motorcycles and cars, as the Japanese company also received a perk from favorable exchange rates. Honda Motor Co. said its fiscal first quarter profit totaled 363 billion yen ($2.5 billion), up from 149 billion yen. Quarterly sales jumped 21% to 4.6 trillion yen ($32 billion). HondaÂ’s financial service division also reported growing sales. Honda said its profitability improved, especially in North America, where production recovered. Automakers around the world were slammed by supply shortages because of production delays related to social restrictions caused by the COVID-19 pandemic. But such restrictions have eased, allowing production to pick up again. Auto sales were about the same in Japan in the latest quarter as in the previous year, while dropping significantly in China because of intense competition from makers of battery electric vehicles, Honda said. Honda is banking on growth in EVs in the U.S. market, where it recently announced it is joining six other companies in the creation of a high-powered charging network across North America. Worries about climate change have helped set off a dramatic shift in the auto industry toward battery electric vehicles, allowing for relative newcomers like Tesla and BYD to prosper, while catching some Japanese makers off guard with their hybrids and regular gasoline-powered models. Honda said a computer chip shortage crimped its motorcycle sales in India, while sales rebounded in Indonesia as production recovered. Honda said it sold 901,000 vehicles in the latest quarter, up from 815,000 a year earlier. It also sold more motorcycles worldwide at nearly 4.5 million, up from 4.2 million. Honda added 23 billion yen ($160 million) to its quarterly operating profit because of the impact of currency exchange rates. A weaker yen, trading lately at about 143 yen to the U.S. dollar, is a boon for Japanese exporters by boosting the amount of its overseas earnings when converted into yen. Honda stuck to its full year projection of an 800 billion yen ($5.6 billion) profit, up from 651 billion yen a year earlier. Honda shares slipped 0.9% on the Tokyo Stock Exchange. Related video: Earnings/Financials Acura Honda

McLaren-Honda drops the bling for stealth F1 livery

Watch a Formula One grand prix and you can instantly tell which are the McLarens, visible as they are from a mile away with their reflective chrome livery. But that's all about to change as the British team has dropped the chrome in favor of the more subdued livery you see here. Unveiled in time for this weekend's Spanish Grand Prix, the new McLaren livery replaces the bling with a gray so dark that it borders on black. The red accents remain, albeit in a revised pattern. The new livery promises to be less reflective at sunset and flood-lit night races especially, while providing more of a visual break from the Mercedes era now that the team is powered once again by Honda. McLaren first adopted the silver and black livery in 1997 after Marlboro (with its white and red livery) left for Ferrari and the West tobacco brand was brought in instead. The team parted company with West after the ban on tobacco advertising in sports was instituted in Europe in 2005, inserted some red into the livery and replaced the flat silver with chrome. This weekend's race will mark the first time in a decade, then, that McLaren will be racing without the chrome. Featured Gallery 2015 McLaren-Honda MP4-30: Gray Livery News Source: McLaren via Facebook Motorsports Honda McLaren Racing Vehicles F1 livery mclaren-honda

The new Honda Ridgeline will debut in Detroit

Hey, remember the Ridgeline? Honda's unibody midsize truck is coming back, and you'll see it at the Detroit Auto Show next month. I actually already saw it at a private event, but I can't tell you anything about it. Let's just say that this is one debut you won't want to miss at NAIAS in January. There's not much to go on with regard to the accompanying teaser image and press release (below). All I can say is that it's a truck, it's a Honda, and it's called Ridgeline. Expect it to offer all the usual Honda interior packaging magic, as well as a ton of onboard tech and safety equipment. The midsize truck segment is booming right now. General Motors launched the new Colorado and Canyon twins, Toyota is now selling the updated Tacoma, and now Honda's getting back into the game with a similarly sized truck. But given its unibody construction, I'm interested to see how the Ridgeline will stack up against its literally tough competition. Stay tuned for more, next month. Honda Accelerates Sweeping Light Truck Makeover with New Ridgeline Pickup Set for Global Debut at the 2016 North American International Auto Show Honda will challenge conventional thinking in the midsize pickup segment with the return of the Honda Ridgeline truck, set to make its world debut at the 2016 North American International Auto Show in Detroit on Monday, January 11 at 1:15 p.m. EST. Designed, developed and manufactured in America, the all-new Ridgeline is the fourth new or significantly refreshed light truck model introduced by Honda in the past 18 months and will hit roads nationwide in the first half of next year. "We developed this new Honda Ridgeline to offer something new and fundamentally better suited to the way many buyers use their truck," said Jeff Conrad, senior vice president and general manager of the Honda Division. "Ridgeline will deliver everything you'd expect in a Honda from incredible packaging and fuel-efficiency to top safety technologies and innovative, segment-first features. We're honored to once again debut the Ridgeline in Detroit at the North American International Auto Show." Honda began the complete remake of its light-truck lineup in the fall of 2014 with the freshened 2015 Honda CR-V, America's best selling SUV. Earlier this year, Honda launched the all-new HR-V crossover, gateway to the Honda truck lineup, and the third generation of its popular Pilot three-row SUV.