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Honda profit targets tumble in wake of Takata scandal

Takata's massive airbag inflator recall will likely do some damage to Honda's bottom line this year, according to the Japanese automaker's latest forecasts. The company will allocate 50 billion yen ($425 million) to fulfill costs related to the safety campaigns, Reuters indicates. The decision will reduce estimated operating profit by about 6.5 percent to 720 billion yen ($6.1 billion US) for the fiscal year ending March 31. In addition to lower profits, Honda also cut back its sales estimate for the year to 4.45 million vehicles from the previous 4.62 million, according to Reuters. This was largely due to lower-than-expected demand in Japan. "We are not seeing a big impact on sales in North America from the airbag issue," company vice president Tetsuo Iwamura (pictured above) told Reuters. The decreased forecasts come at the same time as the possibility of another death in a Honda vehicle from the Takata parts. According to Automotive News, a man in Florida died in a crash in his 2002 Accord, but investigators have not yet determined whether the inflator was the cause. However, the vehicle was included in a 2011 recall for the part and was not repaired. The family intends to file a lawsuit alleging the inflator ruptured, spraying metal shrapnel into the driver's neck. Reportedly, the owner was never notified of the recall. While the Takata inflator recall is affecting many companies with alleged links to at least five deaths and 139 injuries worldwide, Honda has it among the worst. Including vehicles covered under the previous regional repair campaign for the issue, the automaker needs to repair roughly 5.4 million vehicles just in the US. Honda has taken action by employing suppliers other than Takata to supply some of its replacement parts for the recall. The business is also reportedly switching airbag suppliers for the next-gen Accord and possibly the 2016 CR-V and Odyssey.

Honda Accord Hybrid sales capacity constrained

Honda might be selling more hybrids if it could just get them to dealers. While the second-generation Insight never lived up to sales expectations and production is ending, the Japanese automaker is seeing strong demand for the Accord Hybrid here and abroad. However, there is so much global consumer desire that it can't keep them in US showrooms.
The problem limiting the sales of the Accord Hybrid is its battery pack and its popularity in Japan. "There's a waiting list for the product," said Jeff Conrad, Honda general manager, to Ward's Auto about the sedan's US popularity. While the American Accord is built in Marysville, OH, the batteries are imported from Japan, where the model is quite popular. According to Ward's data, the automaker sold 2,414 examples of the hybrid version from October 2013 to February 2014 in the US, but it shifted 6,000 units in Japan in its first three months on sale. Conrad also admitted that the constrained supply is limiting the amount of marketing the automaker can do for the hybrid.
Honda spokesperson Chris Martin told Autoblog the company is working on a solution to increase production for the near future. "We are going to resolve the battery issue," he said.

Honda Civic Coupe to join 2016 Red Bull Global Rallycross season

Red Bull Global Rallycross is about to get another competitor. Honda has announced that it will campaign the 2016 GRC season with its new Civic Coupe, and rather than just put out a press release, it's gone ahead and given us a look at the two-door's racing livery. Ford, Chevrolet, Volkswagen, and Subaru – be prepared. Based loosely on the production Civic Coupe, Olsbergs MSE and Honda Performance Division put in the wrench time to turn the ho-hum standard road car into a 600-horsepower, all-wheel-drive monster that can hit 60 in a hypercar-humiliating 1.9 seconds. And like all GRC cars, it will have no trouble managing some serious jumps. Piloting this hilariously potent coupe will be Sebastian Eriksson and 2014 series champion Joni Wiman. Wiman is Finnish, so his GRX championship should come as no shock. We have to say, compared to the GRX cars found in Europe, this Civic looks remarkably tame. We'd have no issue visualizing the body tweaks on this racer on a production Civic Type R. Then again, we're comparing it with the last big-time GRX entry we heard about – Ken Block's Ford Focus RS, which is running in FIA rallycross. According to Honda, OMSE and HPD will have the Civic Coupe GRX car ready for the season opener on May 21 and 22 at Phoenix's Wild Horse Pace Motorsports Park. View 4 Photos Related Video: Honda Debuts 2016 Civic Coupe Racing Livery to Compete in 2016 Red Bull Global Rallycross Series Will campaign the all-new Civic Coupe in partnership with Red Bull and Olsbergs MSE Mar 22, 2016 - NEW YORK Today Honda unveiled the new racing livery for its Civic Red Bull Global Rallycross racecar, announcing plans to campaign the all-new turbocharged 2016 Civic Coupe in the 2016 series in partnership with Red Bull and championship-winning race team Olsbergs MSE. The Honda Civic Red Bull GRC team will begin racing on May 21 in Phoenix at the first event of the season. Developed from a production-model 2016 Civic Coupe chassis by renowned builders and racers Olsbergs MSE (OMSE) with technical assistance from Honda Performance Development (HPD), the all-new Civic Red Bull GRC car is built to withstand the rigorous demands of racing in a series that emphasizes repeated aggressive acceleration and varied terrain. The car will boast more than 600 horsepower, turn in a 0-60 mph time of 1.9 seconds and is designed to handle the 70 foot table-top jumps featured on each racetrack.