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Honda charged another $363 million over Takata airbags

The Takata airbag recall is growing increasingly expensive for Honda. In the latest hit to the automaker's bottom line, the company is revising the expected costs of its global safety campaigns by an additional 44.8 billion yen ($363 million) after the massive expansion in May. Months ago, Honda announced that it had set aside 50 billion yen ($425 million at the time) to meet the predicted expenses. According to Automotive News, due to the rather arcane laws of accounting, these new costs will actually be applied to the fiscal year that ended on March 31, rather than the current one. Honda's revised earnings will be announced in late June. The company previously reported an operating profit of 651.7 billion yen ($5.3 billion), which was down 13 percent from the previous year. There has been no change to planned dividends for investors. In the US, Honda and Acura have a total of about 6.28 million vehicles in need of a replacement airbag inflator, and the automaker says about two million of those are already repaired. In addition to the Takata campaign, the company has faced other financial setbacks during this calendar year. For example, in early January, it received a $70 million fine from the National Highway Traffic Safety Administration for failing to report 1,729 cases of injuries or deaths over 11 years. As part of a strategy to improve quality globally, Honda cut back its global sales forecasts for the coming year, and it also decided not to make any volume predictions through 2017. To: Shareholders of Honda Motor Co., Ltd. From: Honda Motor Co., Ltd. 1-1, Minami-Aoyama 2-chome, Minato-ku, 107-8556 Tokyo Takanobu Ito President and Representative Director Notice of Events after the Reporting Period Regarding Product Warranty Expenses Honda Motor Co., Ltd. (the "Company") and its consolidated subsidiaries have been conducting market-based measures in relation to airbag inflators, such as product recalls and a Safety Improvement Campaign. Due to factors arising since May 2015 such as an expansion of the scope of these market-based measures based on an agreement between our supplier and the U.S. National Highway Traffic Safety Administration, a change has arisen in the estimate relating to product warranty expenses. The amount of product warranty expenses now expected to be incurred is 44,800 million yen.

Acura models no longer produced or sold in China

SHANGHAI — Chinese carmaker Guangzhou Automobile Group said on Monday its joint venture with Honda Motor is no longer producing or selling products under the Japanese firm's premium Acura brand. GAC will continue to provide after-sales services to Acura customers in China through the joint venture's network, it said in a statement to Reuters. The joint venture will continue to produce other Honda brands. Acura is the second foreign car brand to exit China, the world's largest auto market, in recent months. In October GAC said it was closing its joint venture with Stellantis, which made Jeep vehicles, following a sharp decline in Jeep sales in China over the past four years. GAC-Honda, which started producing Acura cars in 2016 in China, only sold 6,554 of them in the country in 2021, down 45% from the previous year. Related video: 2022 Acura NSX Type S track footage

Junkyard Gem: 1995 Acura Integra SE Sport Coupe

When Honda introduced the Acura brand to North America for the 1986 model year, there were just two models we could buy here: the Legend luxury sedan (developed in partnership with Rover and sibling to the Sterling 825) and the Civic-based Integra. Most Integras we've seen on the street for the last couple of decades have been the third-generation models sold from the 1994 through 2001 model years, and — like their Civic counterparts — plenty of them have held together well enough to rack up impressive mileage totals. Here's a '95 Integra SE coupe that came close to the 350,000-mile mark during its 27 years on the road, found in a Northern California self-service yard a couple of weeks back. In 1995, the SE trim level was near the top of the American Integra hierarchy (just below the soon-to-be-famous GS-R), priced at $19,890 for the Sport Coupe three-door with five-speed manual transmission. That's about $35,895 in 2022 dollars. Hey, Emperor Akihito's daily-driver was a '91 Honda Integra sedan, so that's a lot of prestige for the price (yes, yes, the Emperor of Japan rides in the back of a Toyota for official duties, but we never could buy a new Toyota Century here). With the Special Edition, you got all the luxury features of the mid-grade LS (including power moonroof, air conditioning, cruise control, and anti-lock brakes) plus 15" alloy wheels, fat Michelin tires, a big decklid spoiler, and a six-speaker AM/FM/cassette audio system. The GS-R's 1.8-liter VTEC engine made 170 horsepower in 1995 (having swapped a '96 GS-R engine into a '92 Civic hatchback, I can tell you it's a pretty wild powerplant by middle-1990s standards), but the non-VTEC version that went into the saner Integras was rated at just 142 horses. The Civic Si that year had a mere 125 horsepower and far less luxury than its wealthier Integra brother, but it also cost just $13,450 (about $25,160 today). These cars were built very well and lasted for decade after decade if not abused, and this car benefited from owners that took good care of it. Unfortunately, the craze for hot-rodded Hondas really got rolling in the middle 1990s, and many of these cars met unhappy endings involving crashes and/or exploded engines. It wasn't many years ago that a car like this would have been stripped clean by junkyard vultures within hours of landing in a California self-serve car graveyard.