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Honda profit targets tumble in wake of Takata scandal

Takata's massive airbag inflator recall will likely do some damage to Honda's bottom line this year, according to the Japanese automaker's latest forecasts. The company will allocate 50 billion yen ($425 million) to fulfill costs related to the safety campaigns, Reuters indicates. The decision will reduce estimated operating profit by about 6.5 percent to 720 billion yen ($6.1 billion US) for the fiscal year ending March 31. In addition to lower profits, Honda also cut back its sales estimate for the year to 4.45 million vehicles from the previous 4.62 million, according to Reuters. This was largely due to lower-than-expected demand in Japan. "We are not seeing a big impact on sales in North America from the airbag issue," company vice president Tetsuo Iwamura (pictured above) told Reuters. The decreased forecasts come at the same time as the possibility of another death in a Honda vehicle from the Takata parts. According to Automotive News, a man in Florida died in a crash in his 2002 Accord, but investigators have not yet determined whether the inflator was the cause. However, the vehicle was included in a 2011 recall for the part and was not repaired. The family intends to file a lawsuit alleging the inflator ruptured, spraying metal shrapnel into the driver's neck. Reportedly, the owner was never notified of the recall. While the Takata inflator recall is affecting many companies with alleged links to at least five deaths and 139 injuries worldwide, Honda has it among the worst. Including vehicles covered under the previous regional repair campaign for the issue, the automaker needs to repair roughly 5.4 million vehicles just in the US. Honda has taken action by employing suppliers other than Takata to supply some of its replacement parts for the recall. The business is also reportedly switching airbag suppliers for the next-gen Accord and possibly the 2016 CR-V and Odyssey.

Honda delays JDM Legend over quality concerns

Honda has been having some quality issues lately, to say the least. Most of those have revolved around the airbags supplied by Takata, but not exclusively. The new Fit Hybrid, for example, has been subject to five consecutive recalls in the year since it launched. And now the Japanese automaker is reportedly delaying the launch of its new Legend sedan. The Legend, for those unfamiliar, is what Honda calls the Acura RLX in the Japanese Domestic Market – a model that has been subject to a handful of recalls in the United States, affecting components ranging from headlights to seatbelts to suspension bolts. Such quality control issues have prompted Honda to delay the introduction of its flagship sedan in its home market, pushing its arrival in Japanese showrooms back from the fall (when the model was revealed) initially to January 22 and now to February 20, according to the report from Bloomberg. The extra time is earmarked the give Honda engineers the opportunity to look into potential problems with the vehicle's radar safety system and its advanced hybrid powertrain, before introducing it to the local market. Hopefully further recalls can be avoided once deliveries have commenced.

Driving the Chevy Corvette Z06 and Porsche 911 Carrera T | Autoblog Podcast #551

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Green Editor John Snyder and Associate Editor Joel Stocksdale. We talk about the wide variety of the cars we've been driving, starting with the Chevrolet Corvette Z06 and Porsche 911 Carrera T. Then we discuss the more powerful 2019 Mazda MX-5 Miata, our long-term Honda Ridgeline and our week with the Hyundai Ioniq PHEV. Finally with Pebble Beach on our minds, we preview the Concours d'Elegance.Autoblog Podcast #551 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2019 Chevrolet Corvette Z06 2018 Porsche 911 Carrera T 2019 Mazda Miata 2018 Honda Ridgeline 2018 Hyundai Ionic Plug-In Hybrid Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: