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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 invests $470 million for new transmission plant in Mexico

Honda has announced that it has made an initial investment of $470 million to build a brand new transmission plant in Ceyala, Mexico. For those keeping track, this is the same city that will also house Honda's new automobile manufacturing facility, which will begin production of the Fit compact beginning in the spring of 2014.
This new transmission plant is expected to come online in the second half of 2015, with an annual production capacity of 350,000 units, though that number is expected to double in the years following the plant's opening. With a 700,000-unit production capacity, Honda says a full 1,500 new associates will be hired at the Mexican plant.
Honda will specifically use this new transmission plant for the production of CVTs for automobiles built in Mexico, as well as for cars produced in facilities around the world. It stands to reason, then, that since the next-generation Honda Fit will be built right around the corner from these new CVTs, the small hatchback - which is expected to grow into a full family of vehicles - could be fitted with continuously variable units in the future.

Honda previews S660 roadster ahead of Tokyo debut

Honda isn't known for making convertibles. In fact, legend has it that old man Soichiro banned them from his lineup - but then he also didn't approve of six-cylinder engines, either. There have been exceptions, like the Civic del Sol and S2000, and today Honda has revealed another.
Set to debut at the forthcoming Tokyo Motor Show in late November is the Honda S660 concept, a compact little roadster about which Honda is saying even less. It looks about the size of a Kei car, with a nameplate that suggests a 660cc engine, making it more of a revival for the 1990's Beat than the high-end S2000. And while there are some clear similarities with the EV-STER concept that debuted two years ago in Tokyo, the S660 looks closer to production-ready, with key features like an actual steering wheel.
Of course, whether the S660 makes production, and beyond that makes it off of the Japanese islands and across the Pacific to US showrooms, is another matter, but we could see something like this taking the fight to the Mazda MX-5 and even the Scion FR-S and Subaru BRZ if it did.