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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

Five signs Honda cares about enthusiasts, again

It's a great time to be an enthusiast. From high-horsepower Hellcats to the purist BRZ, engaging automobiles are found in nearly every segment of the market. Everyone wants to join the performance parade. Everyone it seemed, but Honda. The company that built some of Formula One's most successful engines, helped launch the tuner market and gave the world a seminal supercar, has watched competitors of all stripes surge by it for the hearts, minds and dollars of enthusiasts. Until now. Honda put the rest of the auto world on notice at the New York Auto Show, revealing a jaw-dropping Civic concept, confirming the Type R will come to the United States and even adding a hatchback to the 2016 Civic line. Throw in the Acura NSX and much-improved ILX for Honda's luxury sibling, and it's undeniable the company is regaining its swagger. Once again, Honda is serious about performance, and here's five reasons why enthusiasts should believe. The Honda Civic Concept Looks Great We're psyched about the Civic concept, which was a surprise reveal earlier this month at the New York Auto Show. Clad in bright neon green, the concept edged out the Lincoln Continental for first place in our Editors' Choice awards at the show. As Editor-in-Chief Sharon Carty put it, "The color hurts so good." Yes, the green is blinding, but you don't have to squint to see the 10th generation of the Civic. Honda's concepts are the real deal, and this is the car (mostly) that will launch this fall. It's attractive, with a long hood, curvaceous sides and a simple but sporty grille. The powertrain lineup will include a 1.5-liter VTEC turbo four-cylinder paired with a six-speed manual, which should be a treat for enthusiasts. With its fresh looks and intriguing mechanicals, the concept previews an everyday driver you can get excited about. Obviously, we are. The Hatchback Returns Yep, the Civic is getting a five-door hatch in the United States. It's been a while. Honda last offered a Civic hatch for a brief time in the mid-2000s, and only as the lower-volume Si model. The new hatch will be produced at Honda's factory in the United Kingdom and imported to the United States. That's a win-win for Honda: it's using excess capacity in the UK to satiate a niche market for US buyers. The annual hatch production is reportedly expected to be 30,000 to 40,000 units, which is a drop in the bucket for the Civic lineup and its massive though declining sales.

Buckeye Current back on track at Pikes Peak with new rider [w/video]

After suffering a major setback, the Buckeye Current electric motorcycle racing team of students from Ohio State University looks set to take on the 2015 Pikes Peak International Hill Climb on June 28. The squad's longtime rider Rob Barber suffered a crash on the bike during practice for the event. Now, three-time Pikes Peak 450 Pro Class winner Joe Prussiano (pictured above) has taken over to challenge the mountain for the group. In some ways, Buckeye Current is the scrappy underdog of the electric motorcycle racing world. The student team has definitely shown speed, though. In 2013 and 2014, its bikes took consecutive third place finishes in the Isle of Man TT Zero with Barber in the saddle. This year the squad's sights are set on Pikes Peak with a new bike called the RW-3, and the aim is for a possible overall motorcycle record. Utilizing a frame from a Honda CBR1000RR, the students created the 7.8-kWh battery pack, carbon fiber fairing, and electronics system. The team estimates the cycle is making over 134 horsepower and is capable of an average speed of 76 miles per hour up the hill climb. Following Barber's crash, the RW-3 had to be rebuilt, but it has now passed tech inspection to race up the mountain again. Scroll down and check out Prussiano's first ride of the RW-3 on America's Mountain. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. BUCKEYE CURRENT RALLIES TO COMPETE IN THE 2015 PIKES PEAK INTERNATIONAL HILL CLIMB Buckeye Current, the student electric motorcycle team at The Ohio State University, has completed its latest all-electric racing motorcycle. RW-3 will compete in the 2015 Pikes Peak International Hill Climb June 28. This follows on the success of the team's 2013 and 2014 Isle of Man TT Zero performances in which renowned rider Rob Barber piloted the team's RW-2 and then RW-2.X vehicles to third place victories, achieving the title of the world's fastest collegiate electric motorcycle two years in a row. After earning two podium finishes at the Isle of Man, the team was looking ahead to a new challenge. This year the team had to create an entirely new bike to conquer Pikes Peak. RW-3 is designed to average 76 miles per hour through the course with a top speed of 125 miles per hour. The battery pack holds 7.8 kilowatt-hours of energy on board and contains 972 individual 18650 cylindrical battery cells.