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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's new City hints in India at US-bound Fit sedan [w/videos]

While car buyers on these shores may think of the Civic or Accord as the prototypical Honda sedan, in the Asia and Oceania regions, it all comes down to the City. Based on the Honda Fit, the City is a compact sedan that's currently sold in 55 countries around the world, and now Honda has revealed the newest version.
Standing essentially as a Fit sedan (much as the Vezel debuted as a Fit crossover), the new fourth-generation Honda City is as wide as the hatchback on which it's based, but stretches longer on a lengthened wheelbase and sits lower. Power comes from a 1.5-liter inline four in either gasoline or diesel form, mated to an unspecified transmission that we'd have to assume is either a manual or a CVT.
Styling looks familiarly Honda, and while it may be hard to tell from the few stock, detail and live reveal images the Japanese automaker has provided us with thus far, it appears slicker form than other compact hatchback-based sedans like the Ford Fiesta or Mazda2. Fortunately IndianAutosBlog has uploaded a couple of videos from the reveal, which we've included below along with the press release.

Based on wing, next Civic Type R may go eleventy billion mph

Honda just returned to the hot hatch arena with the new Civic Type R. And what a beast it is. But as we know, there's already a new Civic on its way. That is slated to include a new Type R as well, and that's just what our spy photographers have caught undergoing testing at the Nurburgring. Underneath all that camouflage we can see that this prototype is packing an aggressive front end, a giant rear wing, and a trio of tailpipes protruding out the back. Expect the new Type R to offer even more power than the current one, which already produces a stonking 306 horsepower and 295 pound-feet of torque. That's already enough to propel the existing model to 60 miles per hour in 5.7 seconds and lap the Nordschleife in a front-drive record-beating 7:50.63. (Though not enough to match the Ford Focus RS, as we recently found out.) Best of all, we've got good cause to be optimistic that the new Civic Type R will be offered in the United States (unlike the current one) to dice it with the likes of that new fast Ford. We're told that the new Civic will be rolled out first as a sedan, then as a coupe, followed by the five-door hatch, the warmed-up Civic Si, and finally the Type R. That means we should look for Honda's new hot hatch to arrive in about a year from now as a 2017 model. In the meantime, you can scope out the latest spy shots in the gallery above. Related Video: