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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.

Honda getting in on the Daytona Prototype racing action

Racing fans at Sebring are plenty used to seeing Honda powering into the winner's circle, the Japanese motor company having claimed class victories at the endurance race in Florida in 2007, 2009, 2011, 2012 and 2013. Those were all in the LMP2 category, but with the Twelve Hours of Sebring now part of the combined United SportsCar Championship, Honda is branching out into another class: Daytona Prototypes.
The purpose-built racing machinery that were once part of the Grand-Am series are now racing alongside the LMP2 prototypes from the American Le Mans Series under the united championship. So far Ford and Chevy have signed on to power the Daytona Prototypes, and now Honda's joining their ranks as the only manufacturer to field entries in both categories of the championship's Prototype class.
The competition-spec 3.5-liter twin-turbo V6 revealed last month is based on the same J35 engine that powers everything from the Honda Accord to the Acura RLX and MDX. Now it will power the Riley chassis fielded by Starworks Motorsports, competing alongside the pair of Honda Performance Development (HPD) ARX-03b chassis which Extreme Speed Motorsports will campaign under LMP2 regulations, giving Honda a two-pronged, three-car assault on the top class of the new American sports car racing series.

2016 Civic Coupe: The Prelude is back!

Honda used to sell a coupe loosely based on the Accord architecture that was sporty yet economical, it was called the Prelude. Many Honda aficionados have fond memories of the Prelude, it was more than just a sportier Accord, but not quite a true sports car. It was a car you could take out and toss around on the weekend, but also drive to work every day of the week. It was a testbed for new Honda technologies while still being a car you could put hundreds of thousands of miles on. The Prelude was a sporty car, not overly powerful, but just balanced enough to be a slow car you could drive fast. It handled extremely well, it had an interior that was no-nonsense and controls that were equal to or better than any of it's contemporaries. Sadly as the market waned for sporty coupes the venerable Prelude lost sales and Honda altered their focus to selling CR-V's and Pilot's. In 2001 Honda shelved the Prelude, but now it is making a comeback, well not exactly, but after sampling a new Civic Coupe I believe the spiritual successor of the Prelude has finally arrived at Honda. You might be wondering why the new generation Civic Coupe has more Prelude DNA than any of the Civic models which have come before it? The answer comes down to several objective and subjective factors. Objectively the new Civic Coupe hits the sweet spot on Prelude dimensions. When the Prelude debuted in 1978 it had a wheelbase of 91.3 inches and an overall length of 161 inches. Over five generations the Prelude grew to a wheelbase of 101.8 inches and an overall length of 178 inches. The new Civic Coupe rides a longer wheelbase of 106.3 inches but has nearly identical overall length at 176.9 inches. Width of the new Civic is 70.8 inches vs. the last generation Prelude at 69 inches, the new Civic matches the Prelude of yore with a curb weight range of 2750-2900 lbs vs. the 2950-3000 lbs range of the Prelude. In the engine department Honda is offering two units, a 158 HP naturally aspirated 2.0 liter 4 and a 174 HP 1.5 liter turbo mill. The five Prelude generations featured Horsepower ranging from less than 100 in gen 1 to 200 by gen 5 from a naturally aspirated 2.2 liter 4. The last generation of Prelude would hit 0-60 in about 7 seconds, the current model Civic with a CVT and the 1.5 turbo will hit 60 slightly faster. Many cars today feature similar specs to these two coupes and so did some of the prior model year Civic's so what makes this one the heir to the Prelude name?