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Honda reports $1.9 billion profit in first quarter despite sales lag at home

Ford, General Motors and Chrysler have been living in a world of sunshine and buttercups after their April-through-June financials hit the newswire, and Toyota is doing pretty good as well. Honda? Not so much.
While Japan's third-largest manufacturer saw $1.9 billion in profits, the 5.1-percent jump was lower than expected thanks to a drop in its home-market sales. US sales also took a sting, as Honda hasn't been able to match the SUV and truck demand that are currently permeating the American market, despite an uptick in Accord sales.
Honda's initial forecasts targeted a take of 209.3 billion yen ($2.1 billion at today's rates), and while a $200 million shortfall is nothing to sniff at, we'd hardly take this as Honda being in trouble. And even with the dip, Honda hasn't adjusted its forecast for the fiscal year, which remains at 780 billion yen ($7.9 billion).

Honda adds 1.39 million more vehicles to Takata recall to fix Civic and Accord

Honda is already recalling millions of vehicles in the US to replace their driver's side Takata airbag inflators, and now the company is adding 1.39 million more to repair that part on the passenger's side, as well. This expansion covers the 2001-2005 Civic and the 2003-2007 Accord with a four-cylinder engine. According to the documentation from the National Highway Traffic Safety Administration, the broadening of this campaign brings the total number of cars from Honda in need of the fix on the passenger's side to 2.3 million. Honda had previously believed that the issue with Takata passenger's side was only a regional problem for high-humidity areas. However, NHTSA determined that the components were in need of a national recall, like their driver's side counterparts. The same problem affects these as the other Takata parts where prolonged exposure to moisture could cause the propellant to ignite too quickly. This can make shrapnel shoot at occupants in an airbag deployment. Up to seven fatalities have been linked globally to this happening. Honda owners affected by the company's latest expansion to its Takata recall will be notified by mail in the next 60 days. Related Video: Statement by American Honda Regarding Nationwide Recall of Certain Takata Passenger Front Airbag Inflators Jun 15, 2015 - TORRANCE, Calif. Nationwide recall of passenger front airbag inflators in 2001-2005 Civic and 2003-2007 Accord will add approximately 1.39 million inflators not previously subject to recall or safety improvement campaign No change to national recall of driver front airbag inflators announced on May 28 Honda today announced that it will initiate a national recall to replace, free of charge, Takata passenger front airbag inflators installed in certain 2001-2005 Civic and 2003-2007 Accord models sold in the United States following a recently announced defect determination by Takata. The recall will add 1.39 million passenger front airbag inflators not previously subject to either a recall or safety improvement campaign. In its preliminary announcement on May 28, Honda stated that it would recall a more limited population of vehicles. That announcement, which was based on the specific regional nature of the defect determination made by Takata, indicated that approximately 350,000 additional passenger front airbag inflators would be added to inflators included in an earlier regional action (14V-700).

No S660 for US, but Honda wants sporty cars

Honda, best known lately for being a mainstream player rather than the brand that brought us the CRX Si, NSX, Integra Type-R, and S2000, apparently wants to builds sporty cars for the US again. With that in mind (or not), Honda has ruled out bringing the tiny, sporty S660 roadster across the Pacific. "I wouldn't put my chips on [the S660]," American Honda Executive Vice President John Mendel told Automotive News. At nearly 11.1 feet long, the S660 slots in between the 12.8-foot Mazda MX-5 Miata and the 8.8-foot Smart ForTwo. Yet Mendel says the tiny two-seater wouldn't work here. "When the practicalities of the market come in, and the car only so big, that might not be the best car for the US market," Mendel said. "It might be better for India or China or somewhere else." Honda is considering its options here in the US, though. As AN reports, after his takeover earlier this year, new CEO Takahiro Hachigo promised more sporting models, like the new, US-bound, 300-horsepower Civic Type R. And while it's no secret that Honda has filed patent drawings for a mid-engine model, Mendel offered little to indicate that it'd become a reality. Calling the project from Honda's Silicon Valley research and design facility a "design study," Mendel wouldn't answer AN when it asked whether this new model was successor to the S2000 or a more attainable, lower-powered NSX. He did, however, say his company was getting pressure from dealers over the lack of verve in the company's lineup. "They want anything in the sports car world," Mendel told AN. "They're going, 'Gimme a sports car.' They want a retractable hardtop; they want a high-horsepower $20,000 sports car. Because that's the nature of what they do." There you are, Honda. Your dealers want it, which means your consumers are probably are asking for it, and your CEO wants it, too. Make something happen.