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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

Acura NSX hybrid wins Time Attack 2 division at Pikes Peak

Acura sent three NSX supercars up the PIkes Peak Hill Climb and one of them - the TA2 that was a standard NSX with some additional safety equipment - beat out its competition in the Time Attack 2 class by over 11 seconds with a time of 10:28.820. Nick Robinson was the driver. This was not his first time atop the podium, as he won the PP250 motorcycle class last year. The EV concept NSX came in second in the Electric Modified class with a time of 9:06.015. That's good enough for third place overall. Acura says that the TA1 NSX - which had a lighter chassis and a modified racing exhaust – "also campaigned." Both the TA1 and TA2 NSX vehicles used the car's standard three-motor hybrid powertrain. Related Video: 2017 Acura NSX Supercar Claims Class Victory in North American Racing Debut at Pikes Peak International Hill Climb Jun 26, 2016 - PIKES PEAK, Colo. Acura NSX wins its North American racing debut by more than 11 seconds American-built NSX wins Time Attack 2 class at 100th running of the Broadmoor Pikes Peak International Hill Climb NSX-inspired Acura 4-Motor EV Concept finishes second in the Electric Modified Class The recently-launched 2017 Acura NSX claimed victory today in its North American racing competition debut, climbing the 14,115-foot pinnacle of Pikes Peak and clinching first place in the Time Attack 2 class at the 2016 Broadmoor Pikes Peak International Hill Climb, the 100th anniversary of the running of America's second oldest race. The production-based Acura NSX is powered by Acura's revolutionary three-motor Sport Hybrid Super-Handling All-Wheel Drive™ powertrain (Sport Hybrid SH-AWD®), the first electrified torque vectoring powertrain in the world of exotic sports cars. With added required safety equipment for competition, the NSX negotiated the 12.42-mile course in a time of 10:28.820 to win the Time Attack 2 class of the Broadmoor Pikes Peak International Hill Climb. Nick Robinson, North American R&D team member and engineer in charge of the next-generation supercar's dynamic performance, drove the production-based Acura NSX to victory. Nick is also the reigning PP250 winner from the 2015 Pikes Peak International Hill Climb. "I'm incredibly happy to have won the Production Class with the new NSX!" Robinson reported.

Honda finds new Green Path to reduce CO2 emissions

In the wake of the Volkswagen diesel scandal, it's impossible to hear an automaker talk about its overall environmental efforts and not think to yourself, "for real?" Still, we're willing to listen. And Honda representatives gave it their best shot yesterday in Marysville, OH as they introduced a small group of journalist to the company's expanded initiative aimed at cutting CO2 emissions and the total life-cycle environmental impact of Honda products. Called Green Path, the initiative now includes a $210-million expansion at Honda's Marysville, OH manufacturing plant to install a better, cleaner paint shop. Speaking at the facility yesterday, Honda representatives said that the plant room is not only better for the environment (it uses limestone dust instead of water to capture paint particles, for example, reducing water usage by about 2 million gallons annually. Overall, the new paint shop will have 60 percent less VOC emissions and reduce CO2 emissions by 18 percent), it also makes the cars look better. That's whey the two-step temperature curing process will initially only be used on Acuras to differentiate them from the competition. Honda will fire up trials in late 2017. There's more to Green Path than the new paint show, of course. The company wants to reduce - in some cases eliminate - what it calls substances of concern (SOCs), things like lead and mercury. There are also new wind turbines in Ohio to supply power to Honda plants, the Environmental Leadership Program for independent dealerships to make their own green moves, and swapping out fluorescent light bulbs for LEDs, among other efforts. In the Marysville Auto Plant, for example, the Assembly department has over 10,000 task light bulbs. The fluorescent ones used to need to be replaced every three years, but the new LEDs have a life span of 16 years. Honda says that calculating up the impact of all of these little changes will remove an average of 3.822 kilograms of CO2 from the production tally of each car it makes. The company's stated goal is to reduce its total greenhouse gas emissions by 50 percent (compared to 2000 levels) by 2050. You can find out more in Honda's press release and video, below. Honda Announces New "Green Path" Initiative to Reduce Total Life-Cycle Environmental Impact MARYSVILLE, Ohio (Sept.