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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 wins Commercial of the Decade, but not for the ad you think [w/VIDEO]

Honda's Commercial of the Decade: "Grrr" - Click above to watch video
The mad men at Adweek recently voted for the Commercial of the Decade (Super Bowl commercials not included) and Honda took top honors over memorable ads from the last ten years by companies like Nike, Budweiser and Sony. That's not a big surprise considering Honda often puts a huge amount of effort into its on-air spots. However, the Japanese automaker didn't win for the commercial you might have expected: "Cog." Though Honda's famous commercial that breaks down a European Accord Tourer into a Rube Goldberg-esque machine was also a finalist, it was beaten by another Honda commercial called "Grrr" that's narrated by Garrison Keillor of all people. You've probably never seen it, but you can after the jump.
Volkswagen also made the list of finalists, but the particular ad chosen out of all the comical VW ads we've seen was unexpected as well. Most surprising carmaker with a commercial in the finals: Saturn. Who knew...

Acura organizes new business division to confront falling sedan sales

Honda and Acura North America have announced a major restructuring of operations in hopes of turning around Acura's flagging business. For 2013, sales for Acura's sedans dropped 10.4 percent, while its CUV sales grew by 21 percent. The newly formed Acura Business Planning Office will attempt to right the ship.
As part of the restructuring, Acura is promoting Erik Berkman from President of Honda R&D Americas to lead a new division called the Acura Business Planning Office. Berkman has been with Honda since 1982 and led development of the 2006 Accord. He was also the first US engineer to head North American research and development and has been head of Honda Performance Development since 2008. "Erik's appointment to the new Acura Business Planning Office is a clear indication of the high priority we place on Acura," said Honda spokesperson Jeffrey Smith to Automotive News.
American Honda Motor President and CEO Tetsuo Iwamura is also going to be working to improve the business. He has been elected chairman of American Honda's board, and has simultaneously taken the new position of Corporate Brand Officer to improve the management of the company's brands.