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Honda reports $1.9 billion profit in first quarter despite sales lag at home

Ford, General Motors and Chrysler have been living in a world of sunshine and buttercups after their April-through-June financials hit the newswire, and Toyota is doing pretty good as well. Honda? Not so much.
While Japan's third-largest manufacturer saw $1.9 billion in profits, the 5.1-percent jump was lower than expected thanks to a drop in its home-market sales. US sales also took a sting, as Honda hasn't been able to match the SUV and truck demand that are currently permeating the American market, despite an uptick in Accord sales.
Honda's initial forecasts targeted a take of 209.3 billion yen ($2.1 billion at today's rates), and while a $200 million shortfall is nothing to sniff at, we'd hardly take this as Honda being in trouble. And even with the dip, Honda hasn't adjusted its forecast for the fiscal year, which remains at 780 billion yen ($7.9 billion).

Takata airbag victim urges consumers to head to the dealership

A man who lost an eye in a low speed collision due to faulty Takata airbags is urging the owners of cars with recalled parts to take their vehicles into a dealership, before it's too late. The public service announcement comes from ConsumerWatch.com. In a video, the consumer rights website gives factual information about the recall, and adds a personal plea from Corey Burdick. The Florida man lost an eye due to shrapnel from an exploding Takata airbag. The Orlando Sentinel reported that Burdick was traveling just 15 mph in his Honda Civic when he collided with another car. There were no other injuries caused by the crash, except for the loss of Burdick's eye. He filed a lawsuit against Honda and Takata this year. "I lost my eye because of a defective airbag. Take your car in today so this doesn't happen to you," Burdick said. ConsumerWatch.com told Honda and Acura owners not to drive their vehicles until the faulty airbags were replaced. Good advice, as the National Highway Traffic Safety Administration also recently advised owners of 2001-03 Hondas and Acuras to get their airbags replaced immediately. NHTSA says airbag inflators in those vehicles have up to a 50 percent chance of exploding in an accident. But replacing the airbags isn't as easy as simply going into the dealership. Many owners who take their cars in for replacement are finding out that new parts are in short supply as manufacturers grapple with the largest automotive recall in US history. Takata may not have enough replacements until 2019, CNN reported earlier this year. The problem is so pervasive that some brand new cars were found to be sitting on dealer lots with faulty airbags still in place months after the initial recall. Some cars have received replacements that were also faulty and now will require a second trip to the dealer. However, waiting is not an option for many owners. At least 13 people have been killed and over 100 injuries have been blamed on the airbags. Related Video: News Source: consumerwatch.com, Orlando Sentinel, CNN Government/Legal Recalls Acura Honda Driving Ownership Safety consumer airbag Takata airbag recall

Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.