2012 Honda Civic Hybrid on 2040-cars

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Subaru and Honda set all-time single-month U.S. sales records in August

While the U.S. and Japan continue to hash out the details for a new trade deal, American customers showed just how much they love Japanese automobiles. Both Honda America and Subaru of America exceeded expectations in August and set all-time sales records for units moved in a single month. The booming business was led, in part, by the Honda CR-V and Subaru Crosstrek, both of which posted their best sales months ever.  For Subaru, August 2019 marked the best sales month in company history and a claimed 93 straight months of yearly, month-over-month growth. Subaru sold 70,039 vehicles, which beats the December 2018 record of 64,541 vehicles. Top sellers were the Outback (17,110), the Forester (17,076), and the Crosstrek (15,860). The Ascent notably saw a 72.8 percent increase in sales compared to August 2018 with 7,319 sold.  Honda America, which includes Honda and Acura, sold 173,993 total vehicles, 158,804 of which were Hondas. That's up from 147,903 total sales in August 2018. Honda achieved these numbers with strong sales across its lineup, despite the less consumer interest in sedans in general. In August 2019, Honda sold 44,235 CR-Vs (the most ever in a single month) 14,381 Pilots, 10,190 Odysseys, 34,808 Civics, and 30,558 Accords. Acura's SUVs continue to be the company's best-sellers with 5,976 MDXs sold and 5,459 RDXs moved.  By the Numbers Earnings/Financials Honda Subaru Car Buying Crossover Sedan sales subaru crosstrek

Honda finance to pay $24M for discriminatory lending practices

Honda has found itself in hot water in the United States over allegations of discriminatory lending practices. However the Japanese automaker's American subsidiaries are taking actions to not only alter its practices, but compensate the victims of such past discrimination. According to the Consumer Financial Protection Bureau, some Honda dealers were found to have offered less preferential loans to customers of African-American, Hispanic, Asian, and Pacific Islander ethnicities than they have offered to white customers, irrespective of their individual financial situations. The American Honda Finance Corporation has allowed dealers to mark up individual loans by two percent or more, depending on the length of the loan's contract, thereby opening the door for dealers to set interest rates at their discretion. And that discretion, according to the CFPB and the Department of Justice, has been applied in a discriminatory fashion, in violation of the Equal Credit Opportunity Act. Honda, for its part, refutes the allegations and maintains that its practices have not been racially or ethnically discriminatory. The company is nevertheless taking measures to address the charges. For one thing, Honda's US financial arm is reducing the amount of wiggle-room it gives its dealers to only 1.25 percent above the buy rate for short-term loans (5 years or less), and one percent for longer-term loans. It has also set up a $24-million fund to compensate victims of the alleged discrimination, coordinating with the CFPB on the dispersal of said funds. The CFPB reports that "because of Honda's responsible conduct," it is not seeking penalties to be levied against the company for the alleged discrimination. STATEMENT BY AMERICAN HONDA FINANCE CORPORATION RE: Settlement with the Department of Justice and Consumer Financial Protection Bureau Jul 14, 2015 -- American Honda Finance Corporation (AHFC) has reached an agreement with the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) that shows our commitment to work together to be part of the solution and to establish the path forward that best supports our Honda and Acura customers and dealers with clear and convenient financing options. AHFC strongly opposes any form of discrimination, and we expect our dealers to uphold this principle as well. We firmly believe that our lending practices have been fair and transparent.

Five automakers now being investigated by NHTSA for airbag woes

It appears that Toyota's renotification to owners of recalled vehicles from last year is just the tip of the iceberg for what could potentially be a much larger industry-wide recall. The National Highway Traffic Safety Administration is opening a preliminary evaluation investigation into roughly 1.1 million vehicles from Chrysler, Honda, Mazda, Nissan, Toyota and parts supplier Takata regarding faulty airbag inflators in several models.
NHTSA has received six reports - three directly, two from Takata and one from Toyota - of vehicles with ruptured airbag inflators from 2002-2006, which resulted in three injuries. So far, all six incidents have occurred in high humidity areas like Florida and Puerto Rico. According to Toyota's latest recall announcement, the inflators may have an improper propellant that could cause it to rupture in a crash and the bag to deploy abnormally.
This new investigation follows a previous recall from April 2013 of about 3.4 million vehicles worldwide for the airbag inflators from Takata. As Autoblog reported, Toyota jumpstarted the new situation when it found that the original list of serial numbers for the faulty part was incomplete and discovered more cars in need of replacement. Honda and Nissan told us that they were investigating whether further models would need called in again as well. Mazda told Autoblog: "Regarding the current Takata situation, we're working closely with NHTSA and investigating the situation, but nothing else to report at this time." Chrysler Group responded to us with the statement: "Chrysler Group engineers are conducting the appropriate analysis. The Company will cooperate fully with the National Highway Traffic Administration."