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Sales incentive growth clustered around brands with few CUVs, trucks

While it's arguably been around the longest, the dominance of the four-door sedan has been under threat for many years. As a further sign of the hurtin' that SUVs and crossovers have put on today's four-doors, a new report from Automotive News points to the increasing use of incentives by brands reliant on cars and light on CUVs and pickups.
Honda, Toyota, Volkswagen and Kia have all been stung by double-digit increases in their incentives-to-transaction price ratio, according to AN, which cites data from TrueCar. Honda's ratio is up 14 percent, while Toyota, VW and Kia are up 18, 15 and 19 percent, respectively.
"Most of the incentive growth we have seen is in product segments with low demand - midsized or large sedans," TrueCar CEO John Krafcik told AN. "As this trend goes on, the brands with three-sedan strategies are going to be in worse shape on incentive spending than the crossover brands."

Honda reports $2.3 billion profit despite pandemic

TOKYO — Japanese automaker Honda reported Friday that its profit rose 23% in the last quarter, despite a pandemic that has slammed businesses around the world. Tokyo-based Honda said its July-September profit was 240.9 billion yen ($2.3 billion), up from 196.5 billion yen a year earlier, as the auto market recovered in some parts of the world. Honda said it carried out aggressive cost cuts that involved a “fundamental review” of its operations. The situation was also improving from earlier this year, when lockdowns and other problems related to COVID-19 caused disruptions of some production and an inventory crunch. Quarterly sales slipped to 3.65 trillion yen ($35 billion) from 3.73 trillion yen the same period a year earlier. Honda warned that uncertainty remains amid rising COVID-19 cases. But the company stressed it was managing to cling to profitability. Reflecting that upbeat mood, Honda raised its profit forecast for the fiscal year through March 2021 to 390 billion yen ($3.8 billion) from an earlier projection for 165 billion yen ($1.6 billion). The latest forecast is still lower than the 455.7 billion yen profit Honda booked in the previous fiscal year. Honda sold slightly more vehicles in the quarter through September at 1.25 million vehicles, compared to 1.24 million vehicles in the same period of 2019. But it sold fewer motorcycles at nearly 4.5 million motorcycles, down from nearly 5.1 million. Kohei Takeuchi, a senior Honda manager, said much of the damage to sales likely came from the pandemic, though he hesitated to blame the entire decline on the pandemic. Executive Vice President Seiji Kuraishi told reporters Honda is bullish on shifting its lineup to ecological models to keep up with the global efforts to curb carbon emissions and global warming. Also Friday, Toyota raised its full year fiscal forecasts to a 1.4 trillion yen ($13.5 billion) profit, after reporting results that appear to show a gradual but sure recovery. Its profit fell 11% in the last quarter. Nissan reports financial results next week. Related Video: Earnings/Financials Acura Honda

Honda, Kawasaki, Suzuki, Yamaha to make swappable motorcycle batteries

Just as electric cars are becoming ever more common, the alternative propulsion system is starting to make headway in the motorcycle sphere. Companies such as Harley-Davidson and Zero already have electric models on sale, but other established brands are preparing for the electric future. Among them are the four big Japanese bike builders (Honda, Kawasaki, Suzuki and Yamaha) who have a plan to improve electric bike adoption, and make their bikes very appealing. The four companies created an organization back in April 2019 for this sort of purpose called the Swappable Battery Consortium for Electric Motorcycles. And the group has now announced that the manufacturers have agreed on the specifications for motorcycle batteries that can be interchanged among each company's motorcycles. So if you have a Suzuki, you can use a Honda battery, or vice versa. This idea presents quite a few interesting possibilities. The manufacturers could sell bikes with or without batteries, since you might already have a battery from your previous bike, or just another one you own, so you wouldn't have to shell out to buy an entirely new battery. If, for whatever reason, you needed a replacement battery, it should be easy to get one, since the same type would support bikes from a variety of manufacturers. The pipe dream of battery swapping stations might even be feasible because of the standardization and support. And having the batteries relatively easy to remove could be good for apartment dwellers, since they might be able to bring a battery inside to charge. The manufacturers haven't said exactly what the specifications are for these interchangeable batteries, nor when they'll be implemented. But we'll be eagerly awaiting more information in the future. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.