2005 Ex-l Used 3.5l V6 24v Automatic 4wd Suv Moonroof on 2040-cars

Auto blog

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.

Renderings have us excited for reinvigorated Honda Civic Si

Realistically, we know there's no way the new Honda Civic Si will look exactly like the stunning, green, two-door coupe that debuted at the 2015 New York Auto Show. But, as these renderings show, there is a future where the production Si will look very nearly as good as that concept car. Now, it's very important to note that these are not official renderings. Instead, they've been assembled by CivicX.com, and are based on everything from the production Civic sedan, to spy shots of the upcoming coupe, to the flashy concept that foreshadowed the new compact earlier this year. Inspiration was also drawn from previous Si models. As always, take these shots with a grain of salt. That warning has never been so hard to follow, though. These renderings show off a coupe that is very nearly as cool as the concept, while still remaining firmly planted in the real world. In our mind, the front end is the most accurate part of these renderings, taking the production Civic Sedan's and applying a suitable layer of aggression. Other aspects look good, but are probably a bit too fanciful, like the huge wheels and ultra-low-profile tires – seriously, those look like 35-series rubber. That's madness. We aren't crazy about the back, either. With that pedestal spoiler, huge taillight element, and busy rear bumper, there's just too much going on at the tail of these Civic Si renderings. We wouldn't mind seeing a smaller spoiler, perhaps one that doesn't so heavily obscure the handsome fastback tail. A wider diffuser would help, too. It seems underdeveloped here, almost like it was tacked on at the last minute. Check out the full range of renderings, which give us a look at a potential version of the new Si in a variety of traditional colors, including what looks like Taffeta White and Rallye Red. Related Video:

Japanese automakers ramping production for renewed American sales

The 2011 earthquake and tsunami that struck Japan took quite the toll on the automotive industry in that nation. Not content to lean on that tragedy as excuse for slagging sales, the Japanese automakers are planning on a major production expansion in North America. The aim is to reclaim the market share lost from the Tsunami-based dip, and overcome a dollar/yen exchange rate that makes exporting to America unprofitable.
Following the Tsunami, Japanese automakers ramped up production in their North American facilities to compensate, but according to Automotive News, Nissan, Honda and others have all reported plans for still-further increased production in the year ahead. As part of this ramp-up, Mazda will open a facility in Salamnca, Mexico before March of 2014. Part of that increase in output is 50,000 units of a Toyota-badged compact car, which Mazda will produce.
Other Mexican production facilities opening include a Honda plant, which will open in Spring 2014 in Celaya, and a Nissan plant, set to open later this year in Aguascalientes. Nissan also said that it will need another plant in North America within the next five years. According to Nissan Boss Carlos Ghosn, the company aims to raise its stake in the US market from 8 percent to 10, and adding production will help achieve that goal. Even Mitsubishi is aiming to boost production at its Normal, Illinois plant. Production of the Outlander Sport is currently at 50,000, which Mitsubishi wants to raise to 70,000.