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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 CR-V named Motor Trend SUV of the Year for 2015

Motor Trend has announced the results of its 2015 SUV of the Year competition, and from a field that included the new Porsche Macan, Cadillac Escalade, Subaru Outback, Chevrolet Suburban and BMW X5, the buff book has awarded the gold calipers to the 2015 Honda CR-V. If that result surprises you just a little, well, get to the back of the line.
MT looked at six different categories ranging from overall design to efficiency - both fuel economy and carbon footprint - to safety and value to pick its winner, singling out the refreshed Honda while paying particular praise to its new 2.4-liter Earth Dreams four-cylinder engine and continuously variable transmission. A tighter steering ratio was also cited as a big source of improvement.
"There was a lot of contentious debate," MT Technical Director Frank Markus told Autoblog, indicating that nearly half the judges approached the final round of voting with an eye towards the redesigned Jeep Cherokee. "This year's field included some pretty fancy and fast iron, but the thoughtful changes made by Honda to hone its best-seller entry in that crowded compact cross-over segment really did the trick."

2014 Honda Accord Hybrid [w/video]

Delivering On Promises
The 2014 Honda Accord Hybrid should surprise no one. Its look is something we've seen since the non-hybrid versions went on sale last year. Its powertrain, mostly, we are familiar with from the already-on-sale Accord Plug-In model. And the overall vibe of the car? Well, it's an Accord, which has been a strong seller in the US for three decades, so much so that there's a very good chance you've been in one at some point, whether you noticed or not.
Honda's first attempt at an Accord Hybrid, released in 2005, put dynamic performance first, but it didn't match the public's maturing perception of what a hybrid is all about: fuel economy. The 2005 version was capable of a measly 28 miles per gallon combined, 25 in the city and 33 on the highway. Remember those numbers, and that the first-generation Accord Hybrid lasted all of three model years before being axed.