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Honda charged another $363 million over Takata airbags

The Takata airbag recall is growing increasingly expensive for Honda. In the latest hit to the automaker's bottom line, the company is revising the expected costs of its global safety campaigns by an additional 44.8 billion yen ($363 million) after the massive expansion in May. Months ago, Honda announced that it had set aside 50 billion yen ($425 million at the time) to meet the predicted expenses. According to Automotive News, due to the rather arcane laws of accounting, these new costs will actually be applied to the fiscal year that ended on March 31, rather than the current one. Honda's revised earnings will be announced in late June. The company previously reported an operating profit of 651.7 billion yen ($5.3 billion), which was down 13 percent from the previous year. There has been no change to planned dividends for investors. In the US, Honda and Acura have a total of about 6.28 million vehicles in need of a replacement airbag inflator, and the automaker says about two million of those are already repaired. In addition to the Takata campaign, the company has faced other financial setbacks during this calendar year. For example, in early January, it received a $70 million fine from the National Highway Traffic Safety Administration for failing to report 1,729 cases of injuries or deaths over 11 years. As part of a strategy to improve quality globally, Honda cut back its global sales forecasts for the coming year, and it also decided not to make any volume predictions through 2017. To: Shareholders of Honda Motor Co., Ltd. From: Honda Motor Co., Ltd. 1-1, Minami-Aoyama 2-chome, Minato-ku, 107-8556 Tokyo Takanobu Ito President and Representative Director Notice of Events after the Reporting Period Regarding Product Warranty Expenses Honda Motor Co., Ltd. (the "Company") and its consolidated subsidiaries have been conducting market-based measures in relation to airbag inflators, such as product recalls and a Safety Improvement Campaign. Due to factors arising since May 2015 such as an expansion of the scope of these market-based measures based on an agreement between our supplier and the U.S. National Highway Traffic Safety Administration, a change has arisen in the estimate relating to product warranty expenses. The amount of product warranty expenses now expected to be incurred is 44,800 million yen.

Honda Clarity Series brings EV, PHEV to hydrogen fuel cell model

Honda has finally fessed up. Just as we suspected, the company's upcoming hydrogen-powered Clarity Fuel Cell vehicle will not be the only powertrain variant. Honda confirmed today that all-electric and plug-in hybrid versions of the Clarity will be joining the hydrogen car in 2017. The Clarity Fuel Cell will be available in the US in late 2016. The three vehicles are collectively called the Clarity Series. Collectively called the Clarity Series, the three vehicles will share the same platform and target different markets. As we know, the hydrogen model will only be sold in areas where refueling is possible, and that means California and, at some point, the Northeastern US. Honda said the electric version will first be available in the EV-friendly state of California and the company will explore the business case from there. The PHEV will be sold in all 50 states. No range estimate was given for the EV (yet), but the PHEV will have at least 40 miles of all-electric range. Honda will need this kind of powertrain diversification if it hopes to reach its stated goal of having two-thirds of its vehicles be plug-in or hydrogen by 2030. Of course, the next step is different models (a CUV or a truck) that have all three alt-powertrains, but we'll take what we can get for now. Related Video: Honda Takes Bold Step with Honda Clarity Series; Fuel Cell, Battery Electric and Plug-In Hybrid Variants to Leverage Common Platform •Clarity Fuel Cell gets two electrified siblings – the Clarity Electric and the Clarity Plug-in Hybrid – both launching in 2017 •New trio of Clarity vehicles provide unparalleled choices to customers through three different electric powertrain options •All Clarity vehicles will offer spacious, five-passenger seating, premium features and interior appointments; consumers can learn more at http://www.automobiles.honda.com/Clarity DETROIT, April 21, 2016 – Honda today announced that the upcoming Clarity Fuel Cell will be joined by two additional variants, the Clarity Electric and Clarity Plug-in Hybrid, launching in the U.S. in 2017. The addition of two new Clarity vehicles, based on the same platform underpinning the new Clarity Fuel Cell, makes Clarity the first vehicle in the industry to offer fuel cell, electric and plug-in hybrid technology on one model platform, offering Honda customers an expanded array of electrified vehicle choices to suit their individual tastes and driving needs. Following the U.S.

Plug-in BMWs, long-term updates and the best of SEMA 2018 | Autoblog Podcast #560

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Reese Counts. The pair discuss the BMW 740e xDrive iPerformance plug-in hybrid as well as our long-term Chrysler Pacifica Hybrid and Honda Ridgeline. They also discuss the best of SEMA Show 2018, including some pretty wild cars from Dodge and Chevy. Finally, we spend your money. This week, rather than pulling questions in from our email, we head to Reddit to answer some questions on r/cars.Autoblog Podcast #560 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2018 BMW 740e xDrive iPerformance 2018 Chrysler Pacifica Hybrid long-term 2018 Honda Ridgeline RTL-E long-term SEMA Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Green Podcasts BMW Chrysler Dodge Honda chrysler pacifica