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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

Four-leaf clovers, hybrid Hondas and the next automotive downturn | Autoblog Podcast #561

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor Alex Kierstein and Associate Editor Reese Counts. The group discuss the Alfa Romeo Stelvio Quadrifoglio, the Mercedes-Benz CLS 450 and the Honda Clarity PHEV Alex has been driving in Seattle. They also discuss the future of the auto industry, how customer tastes and needs are changing and what might happen if the world faces another economic downturn. Finally, we spend your money.Autoblog Podcast #561 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 Alfa Romeo Stelvio Quadrifoglio Mercedes-Benz CLS 450 Honda Clarity PHEV The next automotive downturn Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

New Honda ads: Fix your airbags

As we've heard on many different occasions, one of the biggest problem with recalls is getting people to actually report to the dealership to have repairs done. This is particularly important in cases where the recalled part can cause some very serious harm. To combat this tendency – you might even call it neglectfulness – on the part of owners, Honda is turning to advertising. The company is launching a multi-million-dollar ad campaign targeting owners of vehicles affected by the Takata airbag recall and asking them to report in to have a replacement inflator installed. "Honda hopes that this new consumer information campaign will bolster our existing and continuing efforts to reach our customers and maximize the vehicle repair completion rates associated with recalls to replace Takata airbag inflators," Honda's John Mendel said in the attached statement. "These ads are a strong call to action from our company designed to break through the clutter, grab the attention of customers driving affected vehicles, and urge that they get required repairs as soon as possible." The campaign will kick off March 16 with full-page color ads in over 120 newspapers and 30-second radio spots in 110 markets. Because it's 2015, the company will also use sponsored Facebook posts "that mention the specific vehicle owned by each identified user." Yep, here's the future. Honda's ads will largely be focused in the 11 high-humidity states and territories (Alabama, California, Florida, Georgia, Hawaii, Louisiana, Mississippi, South Carolina, Texas, Puerto Rico and the US Virgin Islands) most affected by the Takata recall. Several of the states were part of the initial National Highway Traffic Safety Administration investigation, like Florida, Hawaii, the USVI and Puerto Rico. "The goals of this campaign is to save lives and prevent injuries," Mendel added. This campaign will be worth watching, not only because they deliver an important message, but they could set a precedent for the handling of future major recalls. Check out Honda's full press release, available below. New Honda Advertising Campaign Urges Owners to Take Immediate Action to Check for Open Recalls to Replace Takata Airbag Inflators Mar 12, 2015 - TORRANCE, CA.