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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

Honda's electric 0 Series: 5 things we learned at CES 2024

LAS VEGAS — After Honda announced its new all-electric 0 Series at CES this week, suffice it to say we had questions. Fortunately for us, Honda CEO Toshihiro Mibe was there to share the news in person. Along with other selected media, we had the opportunity to ask anything we liked about the forthcoming platform and Honda's plans for its rollout here in the United States starting in 2026. Here are five key things we learned about this new platform and the cars it will underpin.  We may see one before the Saloon arrives in 2026 While Honda has promised it will launch a production model based on the 'Saloon' concept in North America in 2026, another 0 Series vehicle may actually arrive at the same time — or even sooner. What form that may take is anybody's guess, as Mibe remained shy about the details. For now, treat 2026 as the hard deadline and rule nothing out. It will expand to new segments At launch, 0 Series will be a "mid-large" platform, which we can take to mean midsize for practical purposes. This would support cars of equivalent size to Honda's existing Accord and Passport along with the Odyssey minivan (take a close look at that Space Hub concept below). Honda plans to offer 0 Series models with different footprints later. A small-car platform suitable for subcompact, midcompact and compact offerings (think Honda City, HR-V, Civic, CR-V, etc.) will follow later, as will an even larger platform, which we would expect to be utilized for a Pilot equivalent. Though the existing ICE-powered Pilot and its other sibling, the Ridgeline are midsizers riding on the same platform as the aforementioned Passport, these are as big as Honda's trucks and crossovers get. If the mid-large platform could accommodate such offerings, it stands to reason that a larger one wouldn't be necessary.  It has not damaged Honda's relationship with GM Mibe dismissed any perceived rift between Honda and General Motors resulting from the dissolution of their agreement to build a line of small cars on GM's Ultium EV platform. The companies parted ways over a desire to approach their long-term electrification strategies differently, not over any technological limitations or constraints provided by the Ultium platform itself, Mibe said, and the two companies are still working together to develop autonomous technology utilizing elements of GM's Cruise division.

Ford Mustang GTD, Acura ZDX and Pebble Beach recap | Autoblog Podcast #795

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale. In the news, there were a lot of recent unveilings, including the Ford Mustang GTD, Pininfarina B95, Lamborghini Lanzador, Acura ZDX and Fisker Alaska. We recap Pebble Beach and the Woodward Dream Cruise. Joel is fresh off a track drive of the Audi R8 (at Laguna Seca!), and we give ann update on our long-term Toyota Sienna minivan. Finally, we take to Reddit to help pick a new car with a V8 in this week's "Spend My Money" segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #795 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2025 Ford Mustang GTD revealed as a race car for the road — it costs $300,000 Pininfarina B95 revealed, 0-60 in 2 seconds, and at $4.8 million is the priciest EV ever Lamborghini Lanzador concept is a megawatt wedge previewing the first Lamborghini EV 2024 Acura ZDX revealed with up to 500 horsepower Fisker Alaska electric pickup specs, price and production plans revealed Cars we're driving 2023 Audi R8 Quattro Long-term 2023 Toyota Sienna Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Podcasts Acura Audi Fisker Ford Lamborghini Toyota Concept Cars Electric Future Vehicles Luxury Performance