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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

Refreshed Honda Civic's first commercial is a minor mea culpa

Honda has officially rolled out the first ad for the 2013 Civic. The one-minute spot focuses on a number of clever inventions that improve on old themes, from rocket-powered parachutes to hover bikes and smart window shades, before shifting to the redesigned compact. Set to Santigold's "Disparate Youth," the ad culminates with the phrase, "Things can always be better." This is likely as close as we'll come to hearing Honda say, "we could have done better."
Unveiled at the 2012 LA Auto Show, the 2013 Civic features revised front and rear fascias, nicer cabin materials and an updated suspension just one year after the ninth-generation model debuted. That car received scaling reviews from critics, most notably Consumer Reports, who felt the 2012 Civic was a step backwards for a company known for producing high-quality, economical vehicles. You can check out the full ad for the 2013 Civic below before it debuts during the Rose Bowl.

Honda recalls 6,800 Accord hybrids for switching to fail-safe mode

Honda is recalling 6,786 examples of the 2014-2015 Accord hybrid for an issue that can cause them to go into fail-safe mode. There are no reports of injuries or accidents, but the company has received 58 warranty claims about the problem as of Sept. 17, 2015, the National Highway Traffic Safety Administration reported. Due to an issue in the sedan's hybrid battery cell voltage sensor, the part can be affected by electrical noise from the hybrid battery inverter and motor circuits. When this happens, the vehicle enter a fail-safe EV mode, which shuts off the internal combustion engine and limits the speed to 40 miles per hour. According to Honda, the Accord hybrids have about two miles of driving range in this state, and afterwards they stall. As a fix, the automaker has a software update to keep the sensor from misinterpreting the electrical noise. RECALL Subject : Hybrid System may go into Fail Safe Mode Report Receipt Date: SEP 25, 2015 NHTSA Campaign Number: 15V602000 Component(s): HYBRID PROPULSION SYSTEM Potential Number of Units Affected: 6,786 All Products Associated with this Recall Vehicle Make Model Model Year(s) HONDA ACCORD HYBRID 2014-2015 Details Manufacturer: Honda (American Honda Motor Co.) SUMMARY: Honda (American Honda Motor Co.) is recalling certain model year 2014-2015 Honda Accord Hybrid vehicles manufactured August 29, 2013, to May 30, 2015. Electrical interference may cause the hybrid system to switch into fail-safe mode, disabling the gasoline engine, limiting the vehicle's speed to 40 miles per hour and functioning only on battery power. Once the battery is discharged, the vehicle will stall. CONSEQUENCE: A vehicle stall increases the risk of a crash. REMEDY: Honda will notify owners, and dealers will update the hybrid system software, free of charge. The recall is expected to begin November 6, 2015. Owners may contact Honda customer service at 1-888-234-2138. Honda's number for this recall is JT7. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov. Statement by American Honda Regarding Cell Voltage Sensor Recall: 2014-2015 Accord Hybrid Oct 5, 2015 - TORRANCE, Calif. Honda will voluntarily recall 6,786 model-year 2014-2015 Accord Hybrid vehicles in the United States to update the hybrid system software related to the hybrid battery cell voltage sensor (CVS), free of charge.