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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 to offer $184k street legal version of MotoGP racer [w/videos]

Fancy yourself a motorcycle racing talent on par with MotoGP factory riders like Dani Pedrosa and Marc Marquez? Have $184,000 to spend on a bike to prove it? Then get an order in on the Honda RC213V-S when the Japanese motorcycle maker begins taking global reservations on July 13. RC213V-S is designed to be the closest thing possible to legally riding Honda's two-time championship winning RC213V MotoGP racer on the street. Outside of the US, buyers can even spec an optional kit to make the bike track-only but raise the performance even higher. All versions use a 1.0-liter V4 and six-speed gearbox making 157 horsepower and 75 pound-feet of torque or over 212 hp and 87 lb-ft with the tuning package. That's not as much power as the Kawasaki Ninja H2R, but the Honda is a lightweight at 375 pounds for the street version or 353 lbs with the kit. In comparison, the factory racing example weighs just 348 lbs and produces over 235 hp. Being rideable on the road means losing some of the race bike's high-tech features, though. For maintenance reasons, the engine now uses coil-sprung valves, rather than the pneumatic units in MotoGP, and the seamless-shift transmission is replaced with a traditional one. Also there's some added equipment for legal reasons like lights, mirrors, and a muffler, plus useful things like a speedometer and starter. Honda has put out a few videos showing Marquez riding an RC213V-S and one opening up on track. Both are embedded below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. HONDA TO LAUNCH RC213V-S BY TURNING RC213V COMPETING IN MOTOGP RACES INTO A MODEL FOR PUBLIC ROAD RIDING 11/06/15 The RC213V is a machine exclusively for racing that has won consecutive championships in the MotoGP class of the FIM Road Racing World Championship Grand Prix (hereinafter called "MotoGP") in 2013 and 2014. Honda has made changes to some of the specifications of the RC213V, and will now introduce this as the RC213V-S. It is possible to ride the RC213V-S on public roads, and Honda will start accepting order entry for this new model on July 13, 2015. In 1954, Honda declared its intention of participating in the Isle of Man TT races, which were a part of the Road Racing World Championship Grand Prix at the time.

Even Ferrari swept up in latest Takata recall expansion

The scope of Takata's deadly airbag problems continues to widen. Eight manufacturers announced recalls Friday that affect more than 12 million vehicles, according to documents filed with federal regulators. The automakers include Honda, which is recalling 4.5 million units, Fiat Chrysler with 4.3 million, Toyota with 1.65 million, and Subaru, which is recalling almost 400,000. Some of these cars include the Saab 9-2x and Pontiac Vibe that Toyota and Subaru made for General Motors. Mazda will recall 730,000 vehicles and Nissan has 400,000 affected units. The smallest numbers were posted by Mitsubishi, with 38,000 Lancers manufactured from 2006 to 2007, and as a noteworthy high-end manufacturer, Ferrari is calling back 2,800 vehicles. These are all US-market cars. Beyond America, the Japanese Transport Ministry has announced seven million additional vehicles will be recalled, which means 19.6 million vehicles across the globe are affected by recalls announced. The defects have been traced to an insufficiently manufactured airbag inflator, which lacks a drying agent that would prevent the inflators from deteriorating over time. Thirteen deaths have been linked to the faulty airbags, which have become unstable and are prone to exploding and showering vehicle occupants with lethal amounts of metal shrapnel. A private equity firm, KKR & Co., has been named in a possible buyout of the struggling Takata. Related Video: News Source: ReutersImage Credit: Shutterstock Government/Legal Recalls Ferrari Honda Mazda Automakers Mitsubishi Nissan Pontiac Subaru Toyota Saab Safety