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Honda names first woman, foreigner to its board of directors

General Motors may have made headlines when it recently appointed the industry's first female CEO, but Honda has long lagged woefully behind the times when it comes to the diversity of its top management. In fact, its entire board has until now been composed entirely of Japanese men, with not a foreigner or a woman in sight. But as Reuters reports, that's all changing with the nominations to its latest board.
The slate of new directors named to Honda's board includes one Hideko Kunii, a gender-equality advocate and engineering professor from the Shibaura Institute of Technology. A graduate of the University of Texas at Austin, Kunii spent the bulk of her career at Japanese electronic imaging company Ricoh. Alongside Kunii, Honda has also named Tomoko Mizoguchi to the board as responsible for the company's South American operations, making him the first foreigner to serve on the company's board of directors. (Well, almost: Mizoguchi was born in Brazil, but of Japanese ancestry.)
The appointments follow the recent switch Honda made in its official language policy from Japanese to English, signaling a shift in outlook for a company that has long stuck to traditional Japanese business models. Honda was the first of the major Japanese automakers to begin manufacturing in the United States, and has long relied on hiring local managers to run its regional operations around the world. It has, however, resisted placing foreigners on its board of directors until now, relying instead on senior male managers promoted from within its ranks to serve on its board. This in comparison to Toyota, which has seven foreigners and one woman on its 68-member board of directors, and Nissan, which has fifteen foreigners (including its chief executive) and one woman on its 58-member board.

U.S. auto sales fall in July, as Detroit dials back on inventory, rental sales

DETROIT — U.S. carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets in July as General Motors, Ford and Fiat Chrysler Automobiles struggled to curb a slide in retail sales. July is on track to be the fifth straight month in which the annual pace of car and light truck sales declined from the same month a year ago, in part because of fewer fleet sales, analysts and industry executives said. July 2016 sales hit a strong 17.9-million-vehicle pace. GM said the seasonally adjusted annual sales rate fell to an estimated 16.9 million vehicles in July. At midmorning on Tuesday, GM shares were down 3.4 percent at $34.77, Ford was down 2.8 percent at $10.91, and Fiat Chrysler shares were down 0.3 percent at $12.05 in New York. GM sales dropped 15 percent from a year ago to 226,107 vehicles, as the company cut rental fleet sales more than 80 percent. The automaker said inventories of unsold vehicles at month's end were 104 days, down from 105 days at the end of June. GM has promised investors to reduce inventories to 70 days by year-end. Ford said its July sales dipped 7.5 percent to 200,212 vehicles, as it cut fleet sales more than 26 percent. Inventories fell to 77 days from 79 the previous month. Fiat Chrysler said sales dropped 10 percent to 161,477, as it also cut back sales to daily rental fleets. Among the top Japanese companies, only Toyota reported a year-to-year gain, with sales up 4 percent to 222,057 — just 4,000 units behind GM. Honda sales were down 1 percent to 150,980 — its first-quarter sales continuing to decline in North America but seeing a big increase in China. And Nissan sales fell 3 percent to 128,295. GM, Ford and Fiat Chrysler have cautioned that second-half financial results likely will be lower than first-half results, in part reflecting production cuts in North America and pricing pressures. The automakers this year have been deliberately dialing back sales to rental-car companies, which often generate little to no profit, while struggling to keep retail sales from sagging further, according to industry analysts. Industry consultant LMC cut its full-year forecast for new vehicle sales to 17 million vehicles. Automakers sold a record 17.55 million vehicles in the United States in 2016.

Acura reveals performance EV concept called Performance EV Concept

After teasing a new EV concept for Monterey, Acura made good on its promise Thursday with the unveiling of its rather plainly named Performance EV Concept. Good news: Acura's first in-house EV will be a performance car. Bad news: It's not the one we all hoped it would be. Instead, we're getting another model in the grand tradition of the ZDX — pronounced front end and all. It seems that look is here to stay, so get used to it, because Acura says it plans to build a production model based on this concept starting in late 2025.  That's noteworthy not just because this is Acura's first in-house EV, but because it'll be the first production car to ride on any variant of Honda's new BEV architecture. The mainstream brand is planning to put something based on its 0 Series "Saloon" concept into production in 2026. That's quite the coup (no "e") for Acura, which spent most of the past two years talking about the Ultium-based ZDX project, which by all accounts will be the first and last Acura-badged product of Honda's tie-up with General Motors and its Ultium EV platform.  As you can probably surmise, Acura remains tight-lipped about specifics. Honda (and by extension, Acura) "concept" vehicles have a funny habit of being put into production almost exactly as they sit, so what you see here is likely pretty close to the mystery CUV's final physical form, but battery and motor specs remain nebulous for the time being. We expect a multi-motor setup engineered to mimic the behavior of the SH-AWD system Acura offers in its ICE vehicles. The concept's massive 23-inch wheels encircle a set of four-piston calipers and crossed-drilled rotors — the two most significant hints that we're looking at something meant to move quickly.  If you're in Northern California for Car Week, you can check out Acura's concept at The Quail. The company's presentation is scheduled for 10:36 a.m. local time (What is this, a train schedule?) on Friday.