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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 Civic Type R Concept to hatch in Geneva

As if the Geneva Motor Show isn't exciting enough, now we have word that a new version of a certain iconic Japanese hot hatch will make an appearance there in a few weeks time. Honda has announced that its Civic Type R Concept will be revealed during the show's media days, which take place March 4 and 5.
Since this is Honda we're talking about, we should point out that the "Concept" part of the Civic Type R's name is usually a bit of a misnomer. For the past few years, the Japanese automaker has made a habit of attaching "Concept" to the end of several near-production models in the name of drumming up auto show excitement (see Exhibits A, B, C, D and E). So really, this is almost certainly the next Civic Type R, a car we've kind of already driven.
The latter car was a "development" model, but we aren't expecting a lot to change between it and the production model. As previously reported, a 2.0-liter, turbocharged engine should deliver north of 280 horsepower to the front wheels via a six-speed gearbox. Have a look up top at the sole image of the hot Civic released by Honda, and then scroll down for the official press release.

Honda lets us 'drive' the FCEV; PHEV with 40-mile EV range

Blue skies for our children. That's Honda's wonderfully Japanese/English slogan that it uses as a fresh shibboleth to describe the company's plan for the future. It's vague enough to be positive, positive enough to be corporate, and corporate enough to be repeated in presentations around the world. I've certainly heard it a million times. The 2015 Honda Meeting in Utsunomiya, Japan this week was, thankfully, held under a brilliant blue autumn sky, on Honda's R&D track filled with the roar of short test drives in the NSX hybrid and the deafening electric silence of the upcoming hydrogen fuel cell FCEV. But that wasn't all. The amount of technical information Honda offered to visiting journalists during the Meeting was nothing short of overwhelming, which is why I'm glad that Autoblog editor Seyth Miersma was along for the ride. We were both at the same event, but we paid special attention to very different things. You can read his take on the four-motor CR-Z EV and the NSX, among other things, here, and get my take on a bunch of Honda's green news below. Honda calls the FCEV the "ultimate clean performance" vehicle. Honda FCEV: A Short First Crack At Honda's "Ultimate" Vehicle Sure, I got to take a lap in the NSX, but the FCEV was my highlight of the event. This was the first time Honda has let outsiders test drive the upcoming fuel cell vehicle, which the company calls the "ultimate clean performance" vehicle and which is due in the US in next year after a launch in Japan in the spring of 2016. The bad news is that the entire length of the test drive was a measly kilometer, totally straight, with one U-turn at the half-way point. So, even though I went through the course three times (two more than originally scheduled), I can't really say I know how the car drives. What I can tell you is that there are two drive modes, normal and sport, with the main difference being that sport offers stronger regenerative braking and a bit quicker acceleration response. The higher regen level does not allow for one-foot driving, sadly. There's a blue orb that glows in the digital dashboard to indicate the power output of the fuel cell stack (not the motor), so even though the car is fairly quiet as you drive, there's some minimal level of connection between the driver and the "engine." Creature comforts include Honda's excellent LaneWatch and a glossy touch screen for the infotainment system.