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Profit at Honda doubles on strong global sales of cars and motorcycles

TOKYO — Honda reported Wednesday that its April-June profit more than doubled on healthy sales of its motorcycles and cars, as the Japanese company also received a perk from favorable exchange rates. Honda Motor Co. said its fiscal first quarter profit totaled 363 billion yen ($2.5 billion), up from 149 billion yen. Quarterly sales jumped 21% to 4.6 trillion yen ($32 billion). HondaÂ’s financial service division also reported growing sales. Honda said its profitability improved, especially in North America, where production recovered. Automakers around the world were slammed by supply shortages because of production delays related to social restrictions caused by the COVID-19 pandemic. But such restrictions have eased, allowing production to pick up again. Auto sales were about the same in Japan in the latest quarter as in the previous year, while dropping significantly in China because of intense competition from makers of battery electric vehicles, Honda said. Honda is banking on growth in EVs in the U.S. market, where it recently announced it is joining six other companies in the creation of a high-powered charging network across North America. Worries about climate change have helped set off a dramatic shift in the auto industry toward battery electric vehicles, allowing for relative newcomers like Tesla and BYD to prosper, while catching some Japanese makers off guard with their hybrids and regular gasoline-powered models. Honda said a computer chip shortage crimped its motorcycle sales in India, while sales rebounded in Indonesia as production recovered. Honda said it sold 901,000 vehicles in the latest quarter, up from 815,000 a year earlier. It also sold more motorcycles worldwide at nearly 4.5 million, up from 4.2 million. Honda added 23 billion yen ($160 million) to its quarterly operating profit because of the impact of currency exchange rates. A weaker yen, trading lately at about 143 yen to the U.S. dollar, is a boon for Japanese exporters by boosting the amount of its overseas earnings when converted into yen. Honda stuck to its full year projection of an 800 billion yen ($5.6 billion) profit, up from 651 billion yen a year earlier. Honda shares slipped 0.9% on the Tokyo Stock Exchange. Related video: Earnings/Financials Acura Honda

The 2017 Honda Ridgeline's innovative bed

Today most truck makers put their emphasis on high-zoot comfy interiors, towing bragging rights, and macho styling (aka my grille's bigger than yours). The "work area," aka the "bed," for the most part, is often an afterthought. Yeah, there have been improvements, but they've come slowly; and frankly most to date have not been very innovative and/or have been poorly executed. A thinking man's truck Since the very first Ridgeline was introduced, and now with the new 2017 model, Honda has done a lot of serious thinking when it comes to the bed – how it's used, and how to make it even more user-friendly. For the most part great ideas abound, while some like the in-bed audio system seem really silly. The two-way tailgate is flat-out brilliant, even if the idea was borrowed from 1970s Detroit station wagons. Other trucks offer optional bumper steps, fold-out steps, or a tailgate step to aid bed access. Good ideas for sure, but Honda's swing-out tailgate solution is so simple and so elegant it hurts; plus it's standard. The Ridgeline's ability to lay 4x8 building material flat on the floor of the bed is a no-brainer, especially for someone who likes to do home projects; yet Honda is the only mid-size truck to offer that capability. The storage trunk in the bed is another super idea – most of the time. Is it perfect? Nope. Some say accessing the bed trunk with a load of mulch is a problem. No argument there, so you plan ahead. Same with accessing the spare tire; it could be a BIG problem with a loaded bed. Then again, how often do you see a Harry Homeowner truck with a loaded bed? The odds are, if you're going to get a flat tire, most likely the bed will be empty. If not, well then you must have angered the gods. Speaking of flat tires, Honda blew it big time here by giving the Ridgeline a temporary spare tire. no truck should ever have a temp tire; full-size spare all the way, baby! No way do I want to have to use a temp tire while carrying a load or towing a trailer. Hopefully they will offer a full-service spare as an option. The funny thing is, the previous model sold in Mexico came with a full-size spare standard. From what I've heard, the reason the American-spec model comes with a temp tire is to save weight; and Honda will do anything to save weight, to improve EPA mileage ratings, even if it's unwise for real-world conditions.

Honda S660 proving popular with middle-age Japanese buyers

The S660 roadster has been a success so far for Honda. (At least, that is, insofar as a niche-market sports car limited to the Japanese Domestic Market can be considered a big seller.) It just hasn't resonated with the customers that the company expected. Honda revealed the S660 in concept form at the Tokyo Motor Show nearly two years ago, and subsequently put it into production. The convertible Kei car pays homage to models like the S500, S2000, and Beat. It packs a tiny 660cc three-cylinder engine mounted amidships and driving the rear wheels. Despite its connection to past models, the S660 features an entirely modern design that, along with its low price, was expected to appeal to younger buyers. But while Honda has already sold out all 8,600 examples it's slated to build this year, a surprising 80 percent of them have been snapped up by customers over the age of 40 who are mostly buying them as second cars. The development is not entirely isolated. As Bloomberg points out, the number of licensed drivers in Japan "under the age of 40 has fallen 46 percent over the last 13 years." Those are rather startling numbers that dwindle the market down for youth-oriented vehicles like the S660. Honda is expected to begin taking orders for next year's allocation of S660s in October. At that point, the company anticipates the average age of its customer base will drop. But with fewer young drivers on the road in Japan, it shouldn't expect it to drop by much.