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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

Does the 2017 Honda Ridgeline have street cred?

From a sales standpoint, the gen-one Ridgeline was an utter failure. It had a very narrow appeal, that being the suburban Harry Homeowner crowd. Traditional truckers hated it; no, make that HATED it! They hated it as much for what it was as for what it represented. It was assumed to be soft, a mommy truck; and to their eyes, it was ugly as sin. "Real" truckers would not accept the independent rear suspension, yet seemed ignorant about the fact that our military has been using IRS on severe-duty trucks for years. If IRS is good enough for the combat conditions, using it on a light-duty civilian pickup truck should be a piece of cake, no? I think there's also another issue at play here: classism. I suspect that many truckers didn't like those who were buying these trucks. Ridgeline buyers tend to be college-educated, suburban, and earn enough to have a decent if not better-than-average lifestyle. Many were schoolteachers, accountants, doctors, and lawyers – professionals. In short they weren't blue-collar, hard working, struggling-to-make-a-living truck guys. That didn't sit well with many. It was like their "space" was being invaded, maybe even their lifestyle was being threatened. I can't tell you how many derogatory comments I've read from traditional truckers over the last decade directed against Ridgeline owners. Many centered around a lack of masculinity of Ridgeline owners, or that that they were bought by people who didn't "need" a truck, that a minivan would have been a better choice. Many were owners of big diesel pickups who felt compelled to compare their heavy-duty trucks to this smaller mid-size truck. You get the picture. So here we are with the gen-two Ridgeline. Has Honda rectified its image as a truck maker? Yes and no. Yes in that the truck has shed its polarizing looks. In fact I think it's quite handsome, and will have a vastly broader appeal as such. Yes in the fact that it's been brought up to date mechanically, and the technology is vastly superior to the old model. Yes in fact that it should prove to be more economical than the old truck. Yes in the fact that it's more powerful, and that the AWD is vastly superior to what was offered before. Yes in the fact that it should function better, both as a truck and as a family vehicle. No in the fact that it will still be viewed as a "girlie truck" by many. No in the fact that there is no "macho" trim level available.

Watch Evo pick its 2015 Car of the Year in this epic video

With just a few days left in 2015, it's the perfect time to check out Evo's annual Car of the Year test to determine the greatest performance vehicle of the last 12 months. The writers' picks for the 11 finalists spanned a breadth of engaging models and included: Peugeot 208 GTi by Peugeot Sport, Lamborghini Aventador SV, Seat Leon Cupra Sub8, McLaren 675LT, Porsche 991 GT3 RS, Porsche Cayman GT4, Honda Civic Type R, Ferrari 488 GTB, Chevrolet Camaro Z/28, Lotus Evora 400, and Mercedes-AMG GT S. For the venue to test the mettle of these performance machines, Evo stuck close to home this year and visited the twisting roads at the beautiful north coast of Scotland. Racing brothers Marino and Dario Franchitti also came along for the ride to provide two more voices in the competitive challenge to determine a winner. Evo's video explains why each model deserves to be among such rarified company but doesn't gloss over their faults either. There can be only one winner, though. We don't want to spoil it, so check out the clip for magnificent views of these performance machines through the Scottish countryside.