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Honda charged another $363 million over Takata airbags

The Takata airbag recall is growing increasingly expensive for Honda. In the latest hit to the automaker's bottom line, the company is revising the expected costs of its global safety campaigns by an additional 44.8 billion yen ($363 million) after the massive expansion in May. Months ago, Honda announced that it had set aside 50 billion yen ($425 million at the time) to meet the predicted expenses. According to Automotive News, due to the rather arcane laws of accounting, these new costs will actually be applied to the fiscal year that ended on March 31, rather than the current one. Honda's revised earnings will be announced in late June. The company previously reported an operating profit of 651.7 billion yen ($5.3 billion), which was down 13 percent from the previous year. There has been no change to planned dividends for investors. In the US, Honda and Acura have a total of about 6.28 million vehicles in need of a replacement airbag inflator, and the automaker says about two million of those are already repaired. In addition to the Takata campaign, the company has faced other financial setbacks during this calendar year. For example, in early January, it received a $70 million fine from the National Highway Traffic Safety Administration for failing to report 1,729 cases of injuries or deaths over 11 years. As part of a strategy to improve quality globally, Honda cut back its global sales forecasts for the coming year, and it also decided not to make any volume predictions through 2017. To: Shareholders of Honda Motor Co., Ltd. From: Honda Motor Co., Ltd. 1-1, Minami-Aoyama 2-chome, Minato-ku, 107-8556 Tokyo Takanobu Ito President and Representative Director Notice of Events after the Reporting Period Regarding Product Warranty Expenses Honda Motor Co., Ltd. (the "Company") and its consolidated subsidiaries have been conducting market-based measures in relation to airbag inflators, such as product recalls and a Safety Improvement Campaign. Due to factors arising since May 2015 such as an expansion of the scope of these market-based measures based on an agreement between our supplier and the U.S. National Highway Traffic Safety Administration, a change has arisen in the estimate relating to product warranty expenses. The amount of product warranty expenses now expected to be incurred is 44,800 million yen.

Honda's electric 0 Series: 5 things we learned at CES 2024

LAS VEGAS — After Honda announced its new all-electric 0 Series at CES this week, suffice it to say we had questions. Fortunately for us, Honda CEO Toshihiro Mibe was there to share the news in person. Along with other selected media, we had the opportunity to ask anything we liked about the forthcoming platform and Honda's plans for its rollout here in the United States starting in 2026. Here are five key things we learned about this new platform and the cars it will underpin.  We may see one before the Saloon arrives in 2026 While Honda has promised it will launch a production model based on the 'Saloon' concept in North America in 2026, another 0 Series vehicle may actually arrive at the same time — or even sooner. What form that may take is anybody's guess, as Mibe remained shy about the details. For now, treat 2026 as the hard deadline and rule nothing out. It will expand to new segments At launch, 0 Series will be a "mid-large" platform, which we can take to mean midsize for practical purposes. This would support cars of equivalent size to Honda's existing Accord and Passport along with the Odyssey minivan (take a close look at that Space Hub concept below). Honda plans to offer 0 Series models with different footprints later. A small-car platform suitable for subcompact, midcompact and compact offerings (think Honda City, HR-V, Civic, CR-V, etc.) will follow later, as will an even larger platform, which we would expect to be utilized for a Pilot equivalent. Though the existing ICE-powered Pilot and its other sibling, the Ridgeline are midsizers riding on the same platform as the aforementioned Passport, these are as big as Honda's trucks and crossovers get. If the mid-large platform could accommodate such offerings, it stands to reason that a larger one wouldn't be necessary.  It has not damaged Honda's relationship with GM Mibe dismissed any perceived rift between Honda and General Motors resulting from the dissolution of their agreement to build a line of small cars on GM's Ultium EV platform. The companies parted ways over a desire to approach their long-term electrification strategies differently, not over any technological limitations or constraints provided by the Ultium platform itself, Mibe said, and the two companies are still working together to develop autonomous technology utilizing elements of GM's Cruise division.

First production HondaJet nearly completed

We may mention Honda around here mostly for its cars, but the Japanese industrial giant makes a whole lot more than that. The company builds motorcycles, ATVs, marine engines, power equipment and - soon enough - jet airplanes.
Honda has been working on its first private jet since before 2006, and after a good eight years or so of prototype testing, began building its first production version a bit over a year ago. And now it's almost ready for delivery.
The first production HondaJet is nearing completion and has had its GE Honda HF120 jet engines installed, after which it will conduct initial ground tests before taking its first flight this summer. The jet is painted in a new shade of pearl green with a gold stripe, added to the color catalog alongside the silver, red, yellow and blue options.