2011 Honda Fit Sport Hatchback 4-door 1.5l 5-speed Manual on 2040-cars

Auto blog

Honda finance to pay $24M for discriminatory lending practices

Honda has found itself in hot water in the United States over allegations of discriminatory lending practices. However the Japanese automaker's American subsidiaries are taking actions to not only alter its practices, but compensate the victims of such past discrimination. According to the Consumer Financial Protection Bureau, some Honda dealers were found to have offered less preferential loans to customers of African-American, Hispanic, Asian, and Pacific Islander ethnicities than they have offered to white customers, irrespective of their individual financial situations. The American Honda Finance Corporation has allowed dealers to mark up individual loans by two percent or more, depending on the length of the loan's contract, thereby opening the door for dealers to set interest rates at their discretion. And that discretion, according to the CFPB and the Department of Justice, has been applied in a discriminatory fashion, in violation of the Equal Credit Opportunity Act. Honda, for its part, refutes the allegations and maintains that its practices have not been racially or ethnically discriminatory. The company is nevertheless taking measures to address the charges. For one thing, Honda's US financial arm is reducing the amount of wiggle-room it gives its dealers to only 1.25 percent above the buy rate for short-term loans (5 years or less), and one percent for longer-term loans. It has also set up a $24-million fund to compensate victims of the alleged discrimination, coordinating with the CFPB on the dispersal of said funds. The CFPB reports that "because of Honda's responsible conduct," it is not seeking penalties to be levied against the company for the alleged discrimination. STATEMENT BY AMERICAN HONDA FINANCE CORPORATION RE: Settlement with the Department of Justice and Consumer Financial Protection Bureau Jul 14, 2015 -- American Honda Finance Corporation (AHFC) has reached an agreement with the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) that shows our commitment to work together to be part of the solution and to establish the path forward that best supports our Honda and Acura customers and dealers with clear and convenient financing options. AHFC strongly opposes any form of discrimination, and we expect our dealers to uphold this principle as well. We firmly believe that our lending practices have been fair and transparent.

Honda celebrates 30th anniversary of the NSX with a look back at how it began

In 1989, the baseball-loving Japanese dipped their bats in pine tar and came to the U.S. to take gigundous swings. That single year launched five legends: Lexus LS400, Infiniti Q45, Nissan 300ZX Twin Turbo, Mazda MX-5 Miata, and Acura NS-X concept. The Chicago Auto Show (!) hosted the global debuts of the Mazda and the Acura. While Mazda celebrates the bygones with the 30th Anniversary Miata, Acura's reminiscing with a look at how the NSX — a car Motor Trend described in 1990 as, "[The] best sports car the world has ever produced. Any time. Any place. Any price ..." — came to be. The development yearbook opened in 1984, a year after Honda returned to Formula One as an engine supplier for the Spirit team, and for the second Williams chassis in the last race of the season. For the first time in the automaker's history, Honda wanted to build a production car with the engine behind the cabin, one that would demonstrate Honda's engineering prowess and "deeply rooted racing spirit." The sports car would also serve as a halo for the not-yet-launched Acura brand. The engineering team built the first test vehicle in February 1984 on the bones of a first-generation Honda Jazz. After four years of formal development, Honda parked the NS-X Concept in a conference room at Chicago's Drake Hotel in February 1989. This is where the media would meet the red wonder before the public show-stand debut. The F-16 Fighting Falcon-inspired coupe was built on the world's first all-aluminum monocoque, and its SOHC V6 ran with titanium connecting rods. Before the press conference, then-Honda president Tadashi Kume got in the NS-X, started the engine, and revved to the 8,000-rpm redline — a noise felt by everyone in the adjacent conference room attending a Ford press conference. Honda's PR man at the time yelled, "Mr. Kume, stop it! They're gonna hear this!" When Kume got out, he asked Honda engineers present why they didn't put their new VTEC technology in the NS-X. (What's Japanese for, "Why didn't the VTEC kick in, yo?!") They told him VTEC had been created for four-cylinder engines. Kume told them to work on a V6 application. More suggestions came from journos who drove the early prototypes at Honda's Tochigi R&D Center, who said the NS-X "could use more power." The development team had grabbed the SOHC V6 from the Acura Legend for the NS-X concept, and it put out 160 horsepower in the luxury sedan.

Next Generation Honda CR-V Spied | Autoblog Minute

The next generation Honda CR-V was spied on public roads. Honda Crossover Autoblog Minute Videos Original Video