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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 Drops Takata, Parts Company Fined by US Regulators | Autoblog Minute

US regulators hit Takata with a substantial fine and Honda drops the embattled supplier. Autoblog's Adam Morath reports on this edition of Autoblog Minute.

On sale in Japan, Honda won't bring $31k Odyssey Hybrid to US

Japanese minivan customers have been spoiled for choice when it comes to gas-electric versions of their favorite family haulers. Toyota, for example, started selling the Estima - the world's first hybrid minivan – in 2001, and it also offers the Aphard hybrids. Starting tomorrow, buyers will be able to buy the new Odyssey Hybrid minivan from Honda for a not-unreasonable price. US buyers? We're not so lucky. That's because the Japanese Odyssey and the version sold in the US don't share much except the name. That means that the only company bold enough to put a hybrid powertrain – and a plug-in version at that – into a US-bound minivan is FCA, which just introduced us to the Pacifica Hybrid. So, we'll have to just pine for what's available over in Japan. There, the new Odyssey Hybrid comes with an updated dual-motor Sport Hybrid i-MMD powertrain that uses a 2.0-liter and no transmission. It is offered in two versions (standard and 'Absolute') and a total of six trim levels. The hybrid Odyssey starts at the equivalent of $31,235 US and tops out at $34,725, which is a level that Honda says is, "affordably-priced." Related Video: Honda to Begin Sales of Refreshed Odyssey and Odyssey Absolute -- Hybrid model will be newly added to the Odyssey lineup TOKYO, Japan, February 4, 2016 - Honda Motor Co., Ltd. will begin sales of an affordably-priced hybrid version as well as the newly refreshed gasoline-powered version of the Honda Odyssey and Odyssey Absolute premium minivans on Friday, February 5, 2016 at dealerships across Japan. A new addition to the Odyssey lineup, the hybrid version realizes both excellent fuel economy and high-quality driving in the Odyssey and Odyssey Absolute which have been well-received for their spacious cabin, stately styling and exhilarating yet stable driving experience. The newly-added Odyssey Hybrid and Odyssey Hybrid Absolute are the first Honda premium minivan models equipped with the revolutionary Honda-developed powertrain Sport Hybrid i-MMD*1 and realize class-topping*2 fuel economy of 26.0 km/L (JC08 mode)*3. In the thorough pursuit of system efficiency, Honda developed a new motor that features an innovative winding method and structure. This newly-developed motor is approximately 23% smaller and lighter than the previous version and yet realizes high torque and high output.