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Honda, SolarCity expand sun-powered partnership with new $50 million fund

It must be solar-power announcement time. The DOE is ready to throw $25 million at concentrating solar power and New York State just announced $94 million for solar projects. At the broadly green-minded South By Southwest Eco festival in Austin, TX this week, Honda announced an expansion of its work with SolarCity to include a new fund that could finance up to $50 million in solar projects for dealerships and homes. Well, the homes of people who have purchased a Honda or Acura vehicle, at least. Stop us if this all sounds familiar. Honda and SolarCity announced back in early 2013 that they would work together on a $65-million fund to partially subsidize the installation of solar-panels at Honda dealers and on homes of Honda and Acura drivers. The new $50 million will be used to pay for not only the equipment but also the installation, which means that if you can get access to the money, you're looking at a pretty sweet 20-year lease deal to get solar energy for your home and could make it a bit more like the Honda Smart Home in Davis, CA (pictured). How sweet a deal? Well, there's zero down payment required and a 3-kW system starts could cost you just $25 a month, according to the fine print. Rates will vary, for sure, but if that sounds like something you're interested in, check out the Honda SolarCity site. The new fund builds on the previous work that, the two companies say, created enough solar capacity to offset "more than 400 million pounds of CO2 over a 30-year lifecycle." There's more in the press release below. SolarCity and Honda Announce $50 Million Commitment to Provide Solar Power to Honda and Acura Customers and Dealerships SAN MATEO and TORRANCE, Calif., Oct. 8, 2014 – Today, at the SXSW Eco conference in Austin, TX, SolarCity® (Nasdaq: SCTY) and Honda have renewed their partnership with a new fund expected to finance $50 million in solar projects. The new commitment will make solar power more affordable and available to Honda and Acura customers and dealerships in the U.S. The companies have completed or initiated a range of solar projects for homeowners, dealerships and corporate facilities that total more than 12.5 MW of solar generation capacity. The two companies have already brought enough solar capacity online to offset more than 400 million pounds of CO2 over a 30-year lifecycle . The $50 million fund is a follow-up to a $65 million fund the companies created in 2013.

22,000 Honda Shadow 750 motorcycles recalled [UPDATE]

Update: Honda's statement on the recall is now embedded below. The Basics: Honda will recall 22,142 examples of its 2010-2016 VT750 Shadow motorcycles, including the 2012-2014 VT750CA, VT750C2 and VT750C2F; 2011-2016 VT750C; 2013-2016 VT750CS; 2010-2016 VT750C2B; and 2013-2014 VT750C2S. The Problem: Engine vibration can cause a wire for the bank angle sensor to rub against the joint connector on the wire harness. This can eventually cause a loss of the signal, and the engine could stall. Injuries/Deaths: None reported. The Fix: Dealers will replace the bank angle sensor and move the joint connector. If You Own One: Honda expects the recall to begin February 19. More Information: Documents from the National Highway Traffic Safety Administration (as a PDF) report Honda received five warranty claims and five field reports about this issue as of December 14, 2015. Related Video: RECALL Subject : Engine Stall from Loss of Sensor Signal Report Receipt Date: DEC 23, 2015 NHTSA Campaign Number: 15V874000 Component(s): ELECTRICAL SYSTEM Potential Number of Units Affected: 22,142 All Products Associated with this Recall Vehicle Make Model Model Year(s) HONDA VT750 2010-2016 Details Manufacturer: Honda (American Honda Motor Co.) SUMMARY: Honda (American Honda Motor Co.) is recalling certain model year 2012-2014 VT750CA, VT750C2 and VT750C2F, 2011-2016 VT750C, 2013-2016 VT750CS, 2010-2016 VT750C2B and 2013-2014 VT750C2S motorcycles. Engine vibration may cause the bank angle sensor wire to rub on the wire harness joint connector, resulting in a loss of the sensor signal. CONSEQUENCE: Without the bank angle sensor signal, the engine may stall while riding, increasing the risk of a crash. REMEDY: Honda will notify owners, and dealers will relocate the joint connector and replace the bank angle sensor, free of charge. The recall is expected to begin February 19, 2016. Owners may contact Honda Motorcycle customer service at 1-866-784-1870. Honda's number for this recall is JW7. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov. American Honda Statement on VT750 Recall Honda has issued a Safety Recall of some 2010-2016 model-year VT750 motorcycles. It is possible that long term exposure to engine vibrations may cause the bank angle sensor wiring to break, or be damaged, which could cause the engine to stall and increase the risk of a crash.

How new car shortages may impact your buying experience

If you want further proof that the auto industry is bouncing back, look no further than the empty lots and forecourts of your local dealership. According to a story by The Wall Street Journal, continued high demand for mainstream cars is overtaxing automakers' ability to produce enough models. Several dealers interviewed for the story are reporting two-week supplies as opposed to the typical two-month allocations.
With sales expected to hit 1.4 million units when August numbers arrive shortly and incentive spending down to its lowest amount since January, these limited supplies are pushing prices even higher. For example, according to the WSJ, the average price of a Ford Fusion is up past $26,000. Unfortunately, it's difficult for manufacturers to increase production quickly. If it invests in its facilities, as many manufacturers have done, it risks wasting cash if growth suddenly slows. At the same time, the momentum gained over the past several years could be short lived if vehicle supplies continue to dwindle. "Manufacturers are in a precarious situation," notes Karl Brauer, a senior director at Kelley Blue Book.
Low interest rates and a wealth of desirable features are also allowing customers to purchase more expensive vehicles while justifying their higher overall price tags, a situation that is compounding supply shortages. Even now, during the annual end-of-summer clearance season, deals on new vehicles are remarkably difficult to come by. According to the report, the Toyota Corolla is in a self-inflicted state of shortage, as Toyota clears out inventory in anticipation of the new 2014 generation arriving in dealers. Ford's supplies should rebound as Fusion production comes on line at its Flat Rock, Michigan factory. The Chevrolet Impala, Honda Odyssey, Civic, and Accord and Subaru Forester are also facing shortages.