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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

Recharge Wrap-up: BYD e6 taxi in Canoas, BMW wins award for second life battery project

BMW has won a 2015 Energy Storage North America (ESNA) Innovation Award for its second life battery project. The BMW i ChargeForward project takes batteries that have been retired from automotive duty, and puts them to work as stationary energy storage for a solar energy system. It also integrates BMW EVs into the grid, and uses software to manage charging based on grid load. "The goal of the BMW i ChargeForward project is to show how electric vehicles with smart charging capability and stationary second life applications of EV batteries can provide valuable flexibility that would make it possible for utilities to maximize the effectiveness of the existing electricity grid, which we expect to ultimately lower total cost of EV ownership for consumers," says BMW Advanced Technology Engineer of Sustainable Mobility, Dr. Simon Ellgas. Read more from BMW. Honda will add 120 EV chargers at the campus of its Torrance, California headquarters. Honda is also adding a DC fast charger adjacent to the campus that is accessible to the public. "Making workplace charging ubiquitous and accessible is the cornerstone of an effective public charging strategy that supports the maximum number of vehicles," says Honda's Environmental Business Development Office VP, Steven Center. "This expansion will make commuting in an EV a convenient option for the vast majority of Honda associates in Torrance, including those without access to charging at their homes or apartment buildings." Read more from Honda. The city of Canoas, Brazil has begun testing the BYD e6 electric taxi. The city will evaluate the EV taxi over a period of 60 days. "This may translate into vital savings for our survival," says Sergio Oliveira, President of the Taxi Driver Union in Canoas. "With today's high fuel prices, our operation is becoming unfeasible. This car's cost-benefit seems to be worth it. Now we need to get to know the car better by trying it out in the street, but so far we're quite pleased with what we've seen." The test of the electric taxi is part of a larger effort to electrify transport in Canoas. Read more in the press release below. Another Brazilian City Embraces a BYD Electrified Public Transportation Solution In a bid to offer its citizens a more economical and sustainable alternative in public transportation, the Brazilian city of Canoas has recently started testing the BYD e6 BEV as taxi.

Honda bundles up CR-V Special Edition with optional extras

The 2016 Honda CR-V Special Edition is based on the LX trim level, but packs a bunch of extra equipment. It gets 17-inch alloys, a two-tone paint job, tinted rear windows, and a security system. That's about the sum total of what makes this special edition special, but then Honda isn't asking much of a premium for it. The new Special Edition trim slots in between the base LX and the higher-level EX – and below the top-spec EX-L and Touring models. It'll be available in either front- or all-wheel-drive configurations, with prices starting at $24,395 for the former and $25,695 for the latter. That's the MSRP without taxes, registration, or the $880 destination charge. What that boils down to is a modest $800 premium over the base model, which doesn't strike us as a whole lot to ask for the extra equipment – never mind the "special edition" handle. Perhaps most telling, though, is that Honda hasn't released any specific photos for the CR-V Special Edition. It has, however, given us a fresh batch of the 2016 model altogether. And you can check it out in the gallery above, along with the details in the press release below. AMERICA'S BEST SELLING SUV CONTINUES MARKET LEADERSHIP WITH INTRODUCTION OF NEW SPECIAL EDITION 2016 HONDA CR-V Coming off a year of record sales and numerous industry accolades, the exceptionally well received Honda CR-V returns for 2016 with a Special Edition trim offering exterior and security upgrades over LX Oct 6, 2015 - TORRANCE, Calif. -- After a major refresh for 2015 that brought a new powertrain, significantly enhanced exterior and interior styling and a long list of new standard and available features, the 2016 Honda CR-V returns with a new Special Edition (SE) trim and a lineup with a starting Manufacturer's Suggested Retail Price (MSRP) of $23,595.1 The new Special Edition CR-V is positioned above the LX trim by adding larger 17-inch alloy wheels with an exclusive two tone finish, second-row and rear privacy glass, and security system. With only an $800 premium over the LX, the SE represents a high-value proposition for the premium look and additional feature content. In addition to the highly prestigious Motor Trend Sport/Utility of the Year honor, the refreshed 2015 CR-V garnered numerous industry accolades. These include: - 2015 ALG Residual Value Award: Best Compact Utility - 2015 Kelly Blue Book Best Buy: Small SUV/Crossover - Kelly Blue Book 2015 Top 10 Best Resale Value award - U.S.