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Honda finance to pay $24M for discriminatory lending practices

Honda has found itself in hot water in the United States over allegations of discriminatory lending practices. However the Japanese automaker's American subsidiaries are taking actions to not only alter its practices, but compensate the victims of such past discrimination. According to the Consumer Financial Protection Bureau, some Honda dealers were found to have offered less preferential loans to customers of African-American, Hispanic, Asian, and Pacific Islander ethnicities than they have offered to white customers, irrespective of their individual financial situations. The American Honda Finance Corporation has allowed dealers to mark up individual loans by two percent or more, depending on the length of the loan's contract, thereby opening the door for dealers to set interest rates at their discretion. And that discretion, according to the CFPB and the Department of Justice, has been applied in a discriminatory fashion, in violation of the Equal Credit Opportunity Act. Honda, for its part, refutes the allegations and maintains that its practices have not been racially or ethnically discriminatory. The company is nevertheless taking measures to address the charges. For one thing, Honda's US financial arm is reducing the amount of wiggle-room it gives its dealers to only 1.25 percent above the buy rate for short-term loans (5 years or less), and one percent for longer-term loans. It has also set up a $24-million fund to compensate victims of the alleged discrimination, coordinating with the CFPB on the dispersal of said funds. The CFPB reports that "because of Honda's responsible conduct," it is not seeking penalties to be levied against the company for the alleged discrimination. STATEMENT BY AMERICAN HONDA FINANCE CORPORATION RE: Settlement with the Department of Justice and Consumer Financial Protection Bureau Jul 14, 2015 -- American Honda Finance Corporation (AHFC) has reached an agreement with the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) that shows our commitment to work together to be part of the solution and to establish the path forward that best supports our Honda and Acura customers and dealers with clear and convenient financing options. AHFC strongly opposes any form of discrimination, and we expect our dealers to uphold this principle as well. We firmly believe that our lending practices have been fair and transparent.

2018 Nissan Kicks vs other tiny crossovers: How they compare on paper

Update: As we now have now driven the 2018 Nissan Kicks and have all the specs and figures available, we thought it was time to update this comparison post. The data chart has been updated with final Kicks information as well as changes to competitors made for 2019. Anyone else have "Pumped Up Kicks" by Foster the People stuck in their heads? Well, you do now. I couldn't be the only one. Anyway, the 2018 Nissan Kicks is a thing. It replaces the Nissan Juke, which Mr. Stocksdale thought was a bad idea and Mr. Myself thought was a smart idea. Nevertheless, neither of us were especially pumped up by the Kicks. However, the majority of car buyers are all about SUVs, and this littlest segment of them has been multiplying like Tribbles in the past few years. The Juke was one of the first of these subcompact crossovers, but it was probably too oddball for a mainstream audience (not to mention inefficient) and never really caught on. Newer competitors certainly didn't help. Well, to see how the Kicks compares to those very competitors, lets fire up the Autoblog Comparo Generator 3000 (TM). Specifically, we'll be looking at those subcompact crossovers with similarly small dimensions, especially low prices and/or a disinclination to offering all-wheel drive. We're talking about the Nissan Kicks vs the Toyota C-HR, Hyundai Kona, Kia Soul, Honda HR-V and Jeep Renegade. Now, if you're interested in literally the exact opposite SUV segment, check out our recent Mercedes G-Class comparo. Otherwise, on to the spreadsheet: Dimensions and passenger space In terms of exterior dimensions, the new Kicks is right smack in the middle of the segment. It's virtually the same as the Honda HR-V, yet manages to eek out a few extra cubic feet of cargo space behind its raised back seat. The Honda and its "Magic Seat" still beats it in terms of maximum capacity, but it sure is close. The Kia Soul has the biggest maximum number, but that's largely the result of being a box. Its small behind-the-back-seat cargo number is likely a better indicator of how much you'll be dealing with on a day-to-day basis. And in that day-to-day way, the Kicks is excellent. Backseat legroom seems to be a Kicks downside, as all but the C-HR surpass it. (Seriously, it's almost impressive how large the C-HR is on the outside but cramped inside.) However, the Kicks' tall greenhouse not only allows for ample headroom, but seats that are mounted high off the ground.

One lucky customer got the first HondaJet for Christmas

The wait is finally over – for one fortunate customer, at least. After an extensive gestation period, the Honda Aircraft Company has delivered the first HondaJet to its eagerly awaiting new owner. And with it, the Japanese industrial giant has stepped into yet another territory of motorized transportation. Though Honda first started experimenting with aircraft as far back as the 1980s, the development of the HondaJet as we now know it dates back to the late 1990s when designer Michimasa Fujino – now chief executive of the Honda Aircraft Company – first penned its form. The company has been working on getting it into the air and into customer hands ever since, with that process culminating now on no less fitting a day than just this past Christmas Eve. Following the type certification received from the Federal Aviation Administration earlier this month, the handover of the first customer aircraft took place at the company's headquarters at Piedmont Triad International Airport in Greensboro, NC. That's where Honda will be producing all its aircraft, performing service and maintenance, and training its customer pilots, which has already begun on its on-site, full-motion flight simulator. A network of dealers handles sales across North America, South America, and Europe. The company did not disclose the identity of the first customer, but suffice it to say it was not Jenson Button – even though he is, once again, driving a Honda-powered F1 car. The HondaJet HA-420 is classified as a very light business jet, measuring 42 feet and 7 inches long with a 39'9" wingspan. Power comes from a pair of turbofan engines produced by Honda and General Electric, each good for over 2,000 pounds of thrust and together are capable of propelling the aircraft to a cruising speed of 435 miles per hour or a top speed of 483 mph. That makes the HA-420 far and away the fastest vehicle Honda makes across numerous modes of transportation. In addition to cars, trucks, and jets, the company produces motorcycles, ATVs, marine engines, and lawnmowers, making it one of the most diverse manufacturers in the industry. Related Video: Honda Aircraft Company Begins HondaJet Deliveries Dec 23, 2015 - GREENSBORO, N.C. Honda Aircraft Company today announced it has begun deliveries of the HondaJet, the world's most advanced light jet. The company delivered the first aircraft today at its world headquarters in Greensboro, North Carolina.