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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

Honda FCEV could be hiding EV, PHEV surprises in Tokyo

Honda has already detailed which vehicles it will bring to the Tokyo Motor Show next week, but we think there's something the automaker isn't telling us. We've been thinking about the company's various announcements regarding future powertrain plans, and we now think that the FCEV is going to house more than just a hydrogen fuel cell powertrain at some point down the road. We think that the upcoming pure electric and plug-in hybrid vehicles that Honda has talked about - but still hasn't shown hide nor hair of - will actually be based on the FCEV. The FCEV that's coming to Tokyo (pictured) has been toned down from the fanciful concepts that we saw in LA in 2013 (below) and 2014 and there's no reason why Honda couldn't be the first to offer one car with a truly wide variety of powertrains. It's already said that electric vehicles are a core technology, and while many automakers talk about how both plug-in and hydrogen cars are electric at heart, Honda could just be the first to prove it in a big way. Now, all that Honda has officially confirmed is that it will introduce the new electrified vehicles by 2018. Ryan Harty, Honda's manager of environmental business development, told AutoblogGreen earlier this year that, "We want to bring these vehicles [EV and PHEV] to market in significant volume." One way to make that feasible would be repurpose the FCEV to use a battery or a PHEV powertrain. We've got no proof of any of this, of course, but we think the logic makes sense. In any case, we're plenty excited to see what Honda reveals at the show. There is still plenty of time for the company's future plans to shift – the hydrogen car might not arrive until June of 2017, after all, with the other two due in 2018 – but we could learn a lot of specifics in Tokyo next week.

Honda trademarks 'CDX' nameplate

Less than two weeks ago, we discussed the possibility of an Acura-badged version of the sure-to-be popular Honda HR-V. Now, Acura has gone ahead and registered a new trademark that fits in perfectly with its two other crossovers, the RDX and MDX. Our friends at Auto Guide report the company has reserved the name "CDX" with the US Patent and Trademark Office, with the trademark covering "automobiles and their structural parts." While it's true that these kinds of trademarks are filed regularly, the timing in this case is indicative of something more than simply covering bases. After all, it seems very, very unlikely that we'd have comments from Acura on a premium version of the HR-V on February 5 and a trademark filing for a name that fits the brand's CUV nomenclature less than two weeks later, only for it to not go ahead and build an actual vehicle. Adding to that logic is the simple fact that the compact CUV market, both on the premium and mainstream level, is arguably the hottest in the auto industry right now, and it seems like a virtual guarantee that we'll see an HR-V wearing the Acura CDX name in the not-so-distant future. Should that come to pass, look for the CDX to challenge the near-premium Buick Encore, as well as a potential compact CUV from Infiniti. Featured Gallery 2016 Honda HR-V View 25 Photos News Source: Auto GuideImage Credit: Honda Government/Legal Acura Honda Crossover Economy Cars Luxury trademark honda hr-v