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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

Lawsuit reveals gruesome details of Takata airbag victim's death

The accident was minor. The aftermath was horrific. Carlos Solis was waiting to turn left into a Houston-area apartment complex on January 28 when oncoming traffic struck the front-left corner of his 2002 Honda Accord, pictured above. He was stopped, according to a police report of the accident. The other car traveled at under 30 miles per hour. He should have walked away from the fender-bender. Instead, the 35-year-old married man was killed when a defective airbag exploded and sent a large piece of metal shrapnel into his neck, his estate's lawyers allege in a lawsuit filed Thursday in Harris County, Texas. He bled to death while his younger brother and an 11-year-old cousin tried to save him. Solis is one of at least six motorists killed by defective airbags made by Takata, a global automotive supplier. He may also be a posthumous poster child for federal legislation introduced earlier this week that would ensure car owners receive more timely information about safety recalls. Currently, federal law does not require car dealers to tell prospective buyers about open recalls on used cars or whether defects have been repaired. Legislation introduced by Sen. Ed Markey (D-Mass.) and Sen. Richard Blumenthal (D-Conn.) wouldn't require that directly of dealerships, but it would mandate that car owners be notified of recalls when they apply for registration and at the time of registration renewal. "Important recall notices can get bogged down with legalese, and busy consumers can miss a life-saving update," Blumenthal said. "This legislation provides a common-sense avenue to ensure every driver is reminded and encouraged to make the necessary repairs." Such a law may have prevented Solis' death. Although his '02 Accord had been recalled in late 2011, his wife and lawyers say he had no knowledge of the recall when he bought the car used from All Star Auto Sales in 2014, nor did he know of the dangerous flaw when he set out to visit his parents on Jan. 18. Only one month earlier, Congress held hearings on Takata and Honda's long-standing inaction related to the defective airbags. Documents showed both companies were aware of problems with the airbags as early as 2004, and a report in The New York Times detailed secret airbag tests, the results of which alarmed Takata engineers. Yet the company withheld the information from federal safety administrators.

YouTube viewers prefer BMW

BMW owners sometimes get a bad rap as being snobbish, rude drivers, but according to a new study by the online marketing company ZEFR, Bimmer aficionados also have a close relationship with the brand's vehicles. With well over 4 billion YouTube views, the German automaker is the industry's king of the road online. Making the popularity even sweeter for marketers, 95 percent of those clicks are for fan videos, which represents loads of free advertising. BMW isn't the only automaker with such an extensive following. Honda comes in a close second with around 4 billion views, and Mercedes-Benz is just a little behind it. Among all brands, it's the norm for fan-made videos rather than the official ones to get the lion's share of the clicks, generally 95 percent or more. "YouTube has become a treasure trove for connecting with the right people for automakers," Dave Rosner, ZEFR marketing boss, said to Automotive News. Beyond just a popularity contest among brands, automotive videos are big business on YouTube, according to ZEFR's research. Enthusiasts are leading the way, too. Racing is by far the most-watched category with 895,000 clips generating a staggering 8.2 billion views. Classic cars are also a very hot topic with 305,000 videos getting 1.6 billion clicks. Surprisingly, when it comes to watching auto videos, sedans are most popular on YouTube with over 9 billion views, according to Automotive News. Meanwhile, SUVs, performance vehicles, and pickups were each around 3 billion or less. You can check out the full study for yourself, as a PDF, here. Related Video: