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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).

Honda, GM fuel-cell partnership wants to reduce hydrogen refueling costs

To paraphrase the old political adage, it's the cost, stupid. Dollar signs are what's prompting Honda and General Motors to partner up to accelerate development of a hydrogen fuel cell system. With about half the cost of a fuel-cell system tied up in its fuel-cell stack, GM and Honda are looking to help each other drive costs down, according to a presentation by GM fuel cell research and development director Mark Mathias said in a presentation at the SAE 2014 Hybrid & Electric Vehicle Technologies Symposium. According to Green Car Congress, Honda and GM are looking to reap the fruits of their collective labor by 2020. As with other automakers, the high cost of producing fuel-cell vehicles is the fly in the ointment of a powertrain technology that combines the same range as gas-powered vehicles but with zero emissions. In the meantime, Honda, which makes the very limited production FCX Clarity fuel-cell vehicle, is slated to start selling its own mass-market fuel-cell vehicle in 2015. The two automakers made their partnership announcement last summer and said they contribute to expanding hydrogen fuel infrastructure in California during the next few years. Earlier, Ford, Mercedes-Benz parent Daimler and Nissan also said they would work together to speed up fuel-cell technology development.

Autoblog Podcast #406

Episode #406 of the Autoblog Podcast is here, and this week, Dan Roth, Brandon Turkus, and Chris Bruce talk about the Mustang Shelby GT 350, the Los Angeles Auto Show, and the Volkswagen Golf winning Motor Trend Car of the Year honors. We start with what's in the Autoblog Garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #406: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: Ford Shelby GT350 LA Auto Show Volkswagen Golf wins Motor Trend COTY In The Autoblog Garage: 2015 Ford Fiesta SFE 2015 Honda CR-V 2015 Audi Q3 Hosts: Dan Roth, Brandon Turkus, Chris Bruce Runtime: 01:26:07 Rundown: Intro and Garage - 00:00 Ford Mustang Shelby GT350 - 29:21 LA Auto Show - 40:36 Golf is Motor Trend COTY - 53:50 Q&A - 01:00:42 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes