2005 Honda Odyssey Ex-l Mini Passenger Van 5-door 3.5l on 2040-cars

Auto blog

Mixed sales results, but automaker stocks rise on need for cars in Houston

DETROIT — The Big Three Detroit automakers on Friday reported better-than-expected August sales and issued optimistic outlooks for demand as residents of the Houston area replace flood-damaged cars and trucks after Hurricane Harvey, sending their stocks higher. General Motors, Ford and Fiat Chrysler posted mixed August U.S. sales, with GM up 7.5 percent and Ford and Fiat Chrysler down. Japanese automaker Toyota improved sales by nearly 7 percent, while Honda fell 2.4 percent. Still, analysts focused on the potential for Detroit automakers to cut inventories and stabilize used vehicle prices as residents of Houston, the fourth largest city in the United States, are forced to replace tens of thousands, perhaps hundreds of thousands, of vehicles after the devastation from Hurricane Harvey. Mark LaNeve, Ford's U.S. sales chief, told analysts on Friday that following Hurricane Katrina in 2005 "we saw a very dramatic snapback" in demand. That said, Ford sales fell 2.1 percent in August. It sold 209,897 vehicles in the United States, compared with 214,482 a year earlier. Sales were down 1.9 percent in the Ford division and off 5.8 percent at Lincoln. Demand was down for cars, crossovers and SUVs. It was not clear how many vehicles in the Houston area will be scrapped, LaNeve said, saying he had seen estimates ranging from 200,000 to 400,000 to 1 million. Ford's Houston dealers may have lost fewer than 5,000 vehicles in inventory, he said. Ford is the No. 1 automaker in the Houston market, with 18 percent share, according to IHS Markit. The company plans to ship used vehicles to Houston dealers and has "every indication we would have to add some production" of new vehicles to meet demand, LaNeve said. Investor concerns about inventories of unsold vehicles and falling used car prices have weighed on Detroit automakers' shares most of this year. Now, automakers can anticipate a jolt of demand from a big market that is a stronghold for Detroit brand trucks and SUVs. "It's got to be a positive for the industry," LaNeve said. Investors appeared to agree. GM shares rose as much as 3.3 percent to their highest since early March. Ford increased 2.8 percent at $11.34, and Fiat Chrysler's U.S.-traded shares were up 5.2 percent $15.91, hitting their highest in more than five years. GM reported a 7.5 percent increase in U.S. auto sales in August, helped by robust sales of crossovers across its four brands.

Honda replaces CEO Takanobu Ito with Takahiro Hachigo

At its upcoming shareholders' meeting in June, Honda is set to make a raft of changes to its senior personnel, including new board members, directors, auditors and operating officers. But the most pivotal of the new appointments will see the replacement of its president and chief executive. That job currently belongs to Takanobu Ito, who will step down in June and hand the reins over to Takahiro Hachigo, subject to ratification by the shareholders. Hachigo-san has been with Honda since 1982, rising up the ranks and holding a series of key executive and R&D posts with the Japanese automaker in locations around the world – including here in the United States, where he spearheaded development of the original Odyssey minivan and directed the company's American R&D center. He subsequently headed Honda's European operations and currently serves as its most senior officer in China. He's 55 years old. He takes over from Ito-san after a tumultuous period for Honda. Ito, 62, joined Honda in 1978 and similarly rose through the R&D ranks, holding some of the same positions along the way that Hachigo would later, albeit more focused on the company's operations at home in Japan. Ito took over as president and CEO in 2009, steering Honda through a difficult period marked by fluctuating currencies, the tsunami disaster of 2011 and flagging quality issues that have forced Honda to issue unprecedented recalls, focusing much criticism on Ito's leadership. Honda recently recalled millions of vehicles that were fitted with Takata's faulty airbag inflators, which had the unpleasant tendency to spew shrapnel at consumers. Ito will remain on board as a director and advisor, but what we'll be most interested to see is the direction in which Hachigo will take the company. Under Ito's leadership, Honda has brought back performance icons like the NSX and Civic Type R, launched innovative environmental technologies, delved into aerospace with the HondaJet and re-entered Formula One. One of Hachigo's first priorities will undoubtedly be to restore the company's reputation for quality, but we'll have to wait and see what (if any) sort of new and exciting developments he'll spearhead once he takes office. Honda Motor Co., Ltd. Announces New President & CEO Tokyo, February 23, 2015 --- Honda Motor Co., Ltd.

Pair of perfect Honda NSX Type Rs go up for auction in Tokyo

While the original Acura NSX is a brilliant supercar in any of its iterations, we never got the best version of it here in America: the Type R. Those came with Honda badges and are right-hand drive only. Unless you're in Japan or are lucky enough to come see an imported example elsewhere, you're not going to come across one of these. To see two practically perfect examples go up for auction at the same time is an even rarer sight. Some first-generation NSX Type R models (1992-1995 model years) can be imported to the U.S. now that they have surpassed the 25-year mark. However, this 1995 model is still a hair too new. Should that stop you from buying it and waiting a few months to take U.S. delivery? Certainly not. This car being offered at Tokyo's BH Auction with a grand total of 534 miles on its odometer. The seller claims it's 100% original and in pristine condition. Honda did a lot to transform the NSX into the first Type R of many to come. To start, engineers cut 308 pounds out of the car by using aluminum in even more places than before, deleting sound deadening, eliminating the A/C and stereo and using carbon-kevlar Recaro bucket seats. The 3.0-liter V6 was balanced and blueprinted. Then the suspension was given a full makeover with stiffer dampers, springs, bushings and a larger front sway bar. There were plenty of other little things throughout, but we'll spare you the long list. The number you need to know most is the estimated auction price. BH Auction thinks this NSX Type R will go for $227,000 - $272,000. 2005 Honda NSX-R View 21 Photos Next up is the ultra-rare 2005 Honda NSX-R. This R was based-off the NA2 NSX, so it has a 3.2-liter V6 and six-speed manual transmission with the new bodystyle that ditches the pop-up headlights. The 2005 model year was the last for the first-gen NSX, meaning this R is just about as new as they come. Many of the modifications that Honda did for the first Type R were repeated here. This model used carbon fiber more judiciously, though, replacing the hood, deck lid and spoiler with the lightweight material. The auction house claims just 140 NA2 NSX-Rs were made, so this is an incredibly rare car. Sadly, nobody here will be able to import it and drive it on American roads for quite some time yet. The price is estimated to come in at $345,000 - $436,000. That's pricey but this NSX has an even lower odometer reading than the other at just 348 miles.