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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

2014 North American Car and Truck/Utility of the Year finalists announced [w/poll]

The 2014 North American International Auto Show is right around the corner, which means it's high time we found out which cars and trucks would be finalists for the prestigious North American Car and Truck/Utility of the Year awards.
The finalists - three in cars and three in three trucks/utilities - are dominated by American brands, with two-thirds of the finalists hailing from either General Motors or Chrysler (don't worry Ford, there's always next year), while outliers from Mazda and Acura can be found in each contest. Here now is the list of finalists for the big prizes:
2014 North American Car of the Year:

Chicago Auto Show: The really big reveals from shows past

The 2024 Chicago Auto Show may seem like a shell of its former self, but it still holds the title of the largest consumer auto show in the United States. It didn't get that reputation simply by being efficiently produced or convenient for locals desperate for something to do in February — it earned it over decades of breaking automotive news and powerhouse reveals, eventually earning an informal designation as America's truck show.  2024 may be a down year for Chicago, but let's not forget all of the great things that have come out of it, historically. Here's a look at some of our staff favorites. Bet you didn't know about a few of these cars that were first revealed in the Windy City.    2008 Dodge Challenger SRT-8  I didn't just pick this one as a former Challenger owner, but instead to illustrate just how many cool Chicago debuts we take for granted. Chrysler often chose its home turf to debut new cars, so the few times its unveilings happened elsewhere tend to stick in our minds. The first Challenger SRT-8 was kind of garbage, if we're being honest. I mean, who buys a race-bred, V8-powered muscle car without a limited-slip differential? But the SRT-8 formula evolved over time into something truly special, and what we saw in Chicago was essentially the early version of the Scat Pack, which was ultimately very successful for Dodge. And who would have thought we'd be here, 15 years later, still talking about that debut? And still loving these big Mopars, flaws and all. — Associate Editor Byron Hurd SHO time in Chicago IÂ’ll always have a certain fondness for the return of the Taurus SHO at the 2009 Chicago Auto Show. Chicago has always leaned truck and van heavy for press reveals, but every now and then, as this list illustrates, something spicy would appear. The return of the SHO as a high-powered successor to the original that ran from 1989-1999 gave enthusiasts hope for FordÂ’s performance business, especially for sedans. With a 3.5-liter EcoBoost V6 packing 365 hp, all-wheel drive and five-spoke wheels, the SHO was a nice upgrade from the lower-rung Taurus models. It was a bit more sedate than the original SHOÂ’s Yamaha-sourced V6 that teamed with a five-speed manual transmission, but still a worthy response to the Chrysler 300, Dodge Charger and later the Chevy SS. The SHO — Super High Output — begat things like the Fusion ST and gave Ford solid four-door performance for the rest of the decade.