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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.

Honda bundles up CR-V Special Edition with optional extras

The 2016 Honda CR-V Special Edition is based on the LX trim level, but packs a bunch of extra equipment. It gets 17-inch alloys, a two-tone paint job, tinted rear windows, and a security system. That's about the sum total of what makes this special edition special, but then Honda isn't asking much of a premium for it. The new Special Edition trim slots in between the base LX and the higher-level EX – and below the top-spec EX-L and Touring models. It'll be available in either front- or all-wheel-drive configurations, with prices starting at $24,395 for the former and $25,695 for the latter. That's the MSRP without taxes, registration, or the $880 destination charge. What that boils down to is a modest $800 premium over the base model, which doesn't strike us as a whole lot to ask for the extra equipment – never mind the "special edition" handle. Perhaps most telling, though, is that Honda hasn't released any specific photos for the CR-V Special Edition. It has, however, given us a fresh batch of the 2016 model altogether. And you can check it out in the gallery above, along with the details in the press release below. AMERICA'S BEST SELLING SUV CONTINUES MARKET LEADERSHIP WITH INTRODUCTION OF NEW SPECIAL EDITION 2016 HONDA CR-V Coming off a year of record sales and numerous industry accolades, the exceptionally well received Honda CR-V returns for 2016 with a Special Edition trim offering exterior and security upgrades over LX Oct 6, 2015 - TORRANCE, Calif. -- After a major refresh for 2015 that brought a new powertrain, significantly enhanced exterior and interior styling and a long list of new standard and available features, the 2016 Honda CR-V returns with a new Special Edition (SE) trim and a lineup with a starting Manufacturer's Suggested Retail Price (MSRP) of $23,595.1 The new Special Edition CR-V is positioned above the LX trim by adding larger 17-inch alloy wheels with an exclusive two tone finish, second-row and rear privacy glass, and security system. With only an $800 premium over the LX, the SE represents a high-value proposition for the premium look and additional feature content. In addition to the highly prestigious Motor Trend Sport/Utility of the Year honor, the refreshed 2015 CR-V garnered numerous industry accolades. These include: - 2015 ALG Residual Value Award: Best Compact Utility - 2015 Kelly Blue Book Best Buy: Small SUV/Crossover - Kelly Blue Book 2015 Top 10 Best Resale Value award - U.S.

Honda recalls 2012-13 Fit Sport models over stability control issue

Honda is recalling 43,782 examples of the 2012 and 2013 Fit Sport in the US and close to 2,000 more in Canada. During federal compliance testing it was discovered that the software for the Vehicle Stability Assist allows an excessive tilt angle before applying the brakes to prevent a crash. The issue only affects Fit Sports equipped with a certain kind of tire.
Honda will notify owners in mid-May, at which time owners can take their cars to dealers to have the stability control software updated free of charge. There's a press release from Honda below with more details.