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Honda profit targets tumble in wake of Takata scandal

Takata's massive airbag inflator recall will likely do some damage to Honda's bottom line this year, according to the Japanese automaker's latest forecasts. The company will allocate 50 billion yen ($425 million) to fulfill costs related to the safety campaigns, Reuters indicates. The decision will reduce estimated operating profit by about 6.5 percent to 720 billion yen ($6.1 billion US) for the fiscal year ending March 31. In addition to lower profits, Honda also cut back its sales estimate for the year to 4.45 million vehicles from the previous 4.62 million, according to Reuters. This was largely due to lower-than-expected demand in Japan. "We are not seeing a big impact on sales in North America from the airbag issue," company vice president Tetsuo Iwamura (pictured above) told Reuters. The decreased forecasts come at the same time as the possibility of another death in a Honda vehicle from the Takata parts. According to Automotive News, a man in Florida died in a crash in his 2002 Accord, but investigators have not yet determined whether the inflator was the cause. However, the vehicle was included in a 2011 recall for the part and was not repaired. The family intends to file a lawsuit alleging the inflator ruptured, spraying metal shrapnel into the driver's neck. Reportedly, the owner was never notified of the recall. While the Takata inflator recall is affecting many companies with alleged links to at least five deaths and 139 injuries worldwide, Honda has it among the worst. Including vehicles covered under the previous regional repair campaign for the issue, the automaker needs to repair roughly 5.4 million vehicles just in the US. Honda has taken action by employing suppliers other than Takata to supply some of its replacement parts for the recall. The business is also reportedly switching airbag suppliers for the next-gen Accord and possibly the 2016 CR-V and Odyssey.

NACTOY announces top nine finalists for Car, Truck and Utility of the Year

Finalists for the 2024 North American Car, Truck and Utility Vehicle of the Year (NACTOY) Awards were announced at this year’s L.A. Auto Show. This whittles the field down to nine vehicles in total, with the winners scheduled to be announced on January 4, 2024. The finalists in their respective categories: Car category: Honda Accord, Hyundai Ioniq 6, Toyota Prius Truck category: Chevrolet Colorado, Chevrolet Silverado EV, Ford Super Duty Utility category: Genesis Electrified GV70, Kia EV9, Volvo EX30 These nine cars were chosen from a list of 25, which was previously narrowed down from a list of 52 eligible vehicles. Notable misses include the Chevrolet Corvette E-Ray, Toyota GR Corolla, GMC Canyon, Ford Ranger, Chevrolet Blazer EV, Chevrolet Equinox EV, Mazda CX-90 and Toyota Grand Highlander, among others. Jurors will now evaluate the final nine through the end of the year to determine the four winners. Autoblog Editor-in-Chief Greg Migliore is among the jurors. Green LA Auto Show Chevrolet Ford Genesis GM Honda Hyundai Kia Toyota Volvo Truck Crossover Hatchback SUV Electric Hybrid Luxury Off-Road Vehicles Performance Sedan

1997 Acura Integra Type R sells for $82,000 on Bring a Trailer

Acura Integra Type R prices are getting ridiculous. The car is absolutely superb, but the latest one to sell on Bring a Trailer went for a cool $82,000. You could likely pick up two old Acura NSXs in average condition for a similar price as the single Integra Type R. But hey, nobody ever said the value of cars made sense. Why did this particular Type R reach unrivaled heights then? A few factors are obvious. It’s a one-owner, 6,000-mile, completely original 1997 ITR (what the cool kids call the Integra Type R for short). WeÂ’re still rather flabbergasted and slightly upset the original buyer only managed 6,000 miles over the approximately 22 years of ownership, but the new owner could fix that quickly. Then again, this could be a purely speculative buy, aiding heavily in the final gavel price. Wait a few months to a year, and the value of this unmolested Type R could increase another $10,000, or more if you donÂ’t add miles. It was only a year ago to date that we wrote in near-shock about a Type R with even fewer miles (1,200) going for $63,800 at Barrett-Jackson. This car blows that previous record straight out of the water. As of now, thereÂ’s no end in sight to the increasing prices of these now-slightly-old hot Hondas. Another clean Acura Integra Type R is listed on Bring a Trailer right now, and the bid is already up to $34,567 with four days left. That car has 19,000 miles on it, and is reportedly being offered by the carÂ’s second owner, who bought it two years ago. A Honda CRX Si recently went for $33,600 on the same website. The NSXÂ’s value jump hit hard a few years ago, but now its successors are following in its footsteps again. Will there come a day when an Integra Type R hits the six-digit mark? At this rate it doesnÂ’t look far away. If you want a whole lot of what the Type R offers, without the eye-watering markup, take a long, hard look at the Integra GS-R. That trim is a great step up in performance over a base Integra, and a few easy mods gets it close to the Type R from a performance standpoint. You wonÂ’t have the cache and bragging rights that come with the R, but you also wonÂ’t be afraid to put miles on it for fear of entirely ruining the carÂ’s value. Happy Honda hunting.