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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 renders three-row MPV for Jakarta reveal

In preparation for the Indonesia International Motor Show coming up in September, Honda has released a teaser sketch (click to enlarge) of a new three-row MPV - specifically designed for this region - set to debut at the show. Honda says this yet-to-be-named people mover will be positioned in the entry-level MPV segment, which it says is a crucial part of the Indonesian auto market.
While there is no way to tell the size of the vehicle based off this rendering, it does appear to be far more stylish than the Honda CR-V, although the stepped-down beltline and the pinched shape of the rear quarter window have us thinking that Honda designers have been staring at the BMW i3 a little bit too much. The New Honda MPV will be powered by a 1.5-liter gas engine, and it goes on sale (and production) in Indonesia early next year. Honda has released a short press release for the new model, which is posted below.

Honda worker dies in forklift accident at Ohio R&D complex

Ghouse Gulam, a contract worker at the Honda R&D Americas complex in Raymond, OH, died January 4 after being hit by a forklift and suffering a skull fracture. Union County Sheriff's Office Lieutenant Michael Justice tells Autoblog that this is still an open investigation, but there are no pending charges. He said it could be about three months for the authorities to make a final determination until the coroner's report is complete. According to Automotive News, the accident happened between two buildings on the site's campus, and the forklift was carrying an empty trash bin when it struck Gulam. A media release (as a PDF) from the Union County Sheriff's Office showed that police responded at 6:01 AM. Justice would not reveal the name of the driver, but said that the person had retained legal council. The US Occupational Safety and Health Administration also opened an investigation, according to AN. In a statement (in full below), Honda expressed sympathy to Gulam's family. "Associates of Honda R&D Americas are deeply saddened and extend heartfelt sympathy and condolences to family members, friends and colleagues." On Monday, January 4, 2016, at approximately 6:00 a.m. Ghouse Gulam, a contract worker at Honda R&D Americas, Inc. in Raymond, Ohio, was injured in an accident involving a forklift driven by another contract worker. On-site emergency personnel responded immediately to the incident, followed by emergency responders from the Raymond, Ohio based Liberty Township Fire Department. Mr. Gulam was transported by Liberty Township Fire to Memorial Hospital of Union County where he later passed away. Mr. Gulam, 61, was a resident of Livonia, Michigan. Local law enforcement officials were notified of the incident. With respect for the privacy of Mr. Gulam and his family, no additional details will be provided. Associates of Honda R&D Americas are deeply saddened and extend heartfelt sympathy and condolences to family members, friends and colleagues.