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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).

2017 Honda Accord Hybrid First Drive

Honda waited until the Accord Hybrid was on sale for an entire month before inviting journalists out for a test drive. Usually, these events are previews, a chance for those in the industry to get an advance feel for what's about to go on sale. Not this time. The new 2017 Honda Accord Hybrid has been available at your local dealer for a month now. It's high time we got caught up. We were able to do just that at a drive event in Napa Valley last week. We can't say that the new Accord was a hoot to drive, but an Accord isn't supposed to be thrilling. It's supposed to sell boatloads of units a year, and that's why a hybrid version is so important. With ever-increasing fuel-efficiency standards coming around the world and an uncertain future when it comes to gas prices, having a car like this in the stable is obviously important. Of course, the future is only one side of the coin. As we said, the Accord Hybrid is on sale now, in a time of relatively low gas prices in the US, where sedan sales are being outpaced by CUV and SUV sales. This is the reality that the Accord Hybrid is facing. Honda, though, is confident. Just how good does the automaker think the new Accord Hybrid is? We'll guess about twice as good. That's because Honda execs said they expect to sell about 30,000 units a year, about double the volume of the 2014 Accord Hybrid. That's the official sales plan, anyway. The car went on sale June 15, 2016, so we're already off to the races. Sure, only 31 Accord Hybrids were sold in the second half of June, but we can't draw any conclusions this early in the process. Without a doubt, 30,000 sales is respectable for a hybrid (Toyota sold 30,640 Camry Hybrids in 2015), but let's just note for the record that Honda sold 355,557 Accords last year. If it manages to sell 30,000 Hybrids a year, and Accord sales numbers remain stable, that'll be just 8.4 percent of the overall total. The car should easily appeal to 30,000 buyers a year. The car should easily appeal to 30,000 buyers a year. The clean and attractive exterior design hasn't been massively overhauled from the 2014 Accord Hybrid, but why change what isn't broken? The headlights are updated, the front fascia has sharper lines, the taillights are more impressive – and that's about it.

Honda and Chrysler EV news, and talking with GM's charging ecosystem boss | Autoblog Podcast #781

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. They're excited about the news of the possibility of an electric sports car being revealed for Honda's 75th anniversary, as well as the completely revamped — redesigned and renamed — Chrysler Airflow. They've been driving the Bentley Bentayga EWB, Range Rover, Toyota GR Corolla and the refreshed Buick Encore GX. We listen to a interview Greg conducted with GM's EV charging boss, Hoss Hassani. Finally, a reader is looking to help his in-laws choose an SUV, possibly a hybrid or EV, to replace a BMX X3. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast # 781 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 News Honda electric sports car could be unveiled this year Chrysler Airflow being redesigned and renamed for production Cars we're driving 2023 Bentley Bentayga EWB Azure First Edition 2023 Land Rover Range Rover SE LWB 2023 Toyota GR Corolla Morizo 2024 Buick Encore GX Avenir Interview with Hoss Hassani, General Motors Vice President and EV Charging Ecosystem 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: Green Podcasts Bentley Buick Chrysler GM Honda Land Rover Toyota Green Automakers Crossover Hatchback SUV Electric Future Vehicles Luxury Performance Sedan