1994 Honda Accord Lx on 2040-cars

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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

Here are your 2016 North American Car and Truck/Utility of the Year finalists [w/polls]

The 2016 Detroit Auto Show will kick off with the announcement of the annual North American Car and Truck/Utility of the Year awards, and the three finalists in each category have just been revealed. Following this announcement, the jury – which includes Autoblog editor-in-chief Mike Austin – will re-evaluate each candidate before casting a final vote for the winner. This year's finalists are: Car of the Year Chevrolet Malibu Honda Civic Mazda MX-5 Miata Truck/Utility of the Year Honda Pilot Nissan Titan XD Volvo XC90 The 23rd annual awards will be announced on the morning of Monday, January 11. For now, we want to know where you stand. Let us know which vehicles you think should win, by voting in the polls below. Chevrolet Honda Mazda Nissan Volvo north american car of the year NACTOY

2024 Honda Prologue name announced, and an Acura EV follows

Honda is revealing a couple of little nuggets of information about its future EVs today, shedding more light on the partnership between it and GM on electric vehicle technology. The big news is that Honda’s first new EV made in this partnership will be called Prologue, and it will be an SUV produced for the 2024 model year. HondaÂ’s “Prologue” logo is revealed with this news, and a few additional details about the car itself are, too. On the obvious front, Honda says the Prologue will ride on GMÂ’s global EV platform and use GMÂ’s Ultium battery technology. The company is also promising “versatility and driving range on par with our current lineup of rugged SUVs.” “Our first volume Honda BEV will begin our transition to electrification, and the name Honda Prologue signals the role it will play in leading to our zero-emission future,” says Dave Gardner, executive VP of American Honda. “The Prologue will provide our customers with a battery-electric SUV with the excellent functionality and packaging theyÂ’ve come to expect from Honda.” ItÂ’s not just Honda that will join in on the fun, though. An electric Acura SUV was also announced today. Just like the Honda, it will use GMÂ’s electric vehicle platform. A model year for the Acura wasn't promised, but Honda claimed it would be revealed “in the 2024 calendar year.” Any details beyond what you see here are being kept under wraps by Honda. WeÂ’re told to expect more “specific details” to be released over the coming months. Basically, expect a slow drip of information about the Prologue leading up to a full reveal where Honda finally shares all there is to know about the SUV. Looking even further into the future, Honda promises EVs based on an in-house-developed EV platform sometime in the second half of this decade. For now, itÂ’s calling this future platform “e:Architecture.” Ultimately, Honda promises that 100% of its auto sales in North America will be fully electric by 2040. The 2024 Prologue is the brandÂ’s first step toward this ambitious goal. Related video: