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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.

Latest Honda promo film is a Never Ending Race against emissions

A new Honda promotional video shows clips of a hazy, smog-choked Los Angeles in the 1960s and 1970s, and then gives the company credit for its lead role in cutting vehicle-emissions by a factor of one thousand since 1970. Self-serving? Sure. Then again, this LA-native reporter born in 1970 can't help but be somewhat appreciative. The nearly five-minute video takes a tour through Honda history, showing the Japanese automaker using its experience designing race cars to help develop smaller engines such as its four-cylinder CVCC. An early proponent of California's Clean Air Act, Honda recounts its low-emissions history with the first production low-emission vehicle (the 1996 Civic) and the first production ultra-low-emission vehicle (the 1998 Accord), and says it's approaching "near zero emissions" for its new cars. For anyone keeping track, the US Environmental Protection Agency (EPA) said late last year that Honda's 2013 model-year vehicles averaged an even 27 miles per gallon, and that's with a fairly limited number of hybrids and plug-ins sold. That number was up from its 26.6 mpg in 2012 and second only to Mazda's 27.5 mpg among the major automakers. The overall 2013 average was 24.0 mpg. Read Honda's press release here and check out the Honda video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Honda's "Never Ending Race" Documents its Four-Decade Battle Against Air Pollution Third film in award-winning Environmental Short Film Series explores Honda's voluntary efforts to reduce vehicle emissions over forty-year period Honda's successful demonstration of low-emissions vehicle technology led state of California to adopt new, more stringent emissions regulations New-vehicle emissions are 1/1000th of 1970 levels Next environmental "race" is against global climate change TORRANCE, Calif., Feb. 13, 2014 /PRNewswire/ -- As unprecedented levels of pollution choked the nation's largest cities in the early 1970's, a group of automobile engineers secretly toiled to develop an engine technology that would significantly reduce pollution from automobiles.

Honda expands Takata airbag recall to 5.4M units in the US

While Honda already announced plans to take its front driver's side Takata airbag inflator recall nationwide, the automaker has now officially reported on the number of affected vehicles and the specific models in need of repair. The expanded campaign covers an estimated 5.4 million units across the US, including those already being fixed under the previous regional actions. That number is an expansion of the five million units initially reported by NHTSA. The affected models under the nationwide recall are the 2001-2007 Accord with a four-cylinder engine, 2001-2002 Accord V6, 2001-2005 Civic, 2002-2006 CR-V, 2003-2011 Element, 2002-2004 Odyssey, 2003-2007 Pilot, 2006 Ridegline, 2003-2006 Acura MDX, 2002-2003 TL and 2002 CL. For customers who expressed concern about their vehicle's safety, Honda had already been replacing the inflators nationwide. It's possible for the inflators in these vehicles to rupture when inflating the airbag, spraying metal fragments at occupants. This problem has been blamed for at least five deaths worldwide and at least 139 reported injuries. In its statement, Honda said that it worked with Takata to test the recalled inflators in the original high-humidity recall regions, and there were no abnormal deployments in these evaluations. Honda will begin notifying owners by "over time," according to its statement. Priority will be put on the geographic areas with the highest risk of ruptures. Those in the original recall region were contacted in September. Earlier in December, Honda partnered with Autoliv to supply the automaker with replacement inflators for this campaign. Autoliv predicted it would take six months for deliveries to start. Takata also increased its production of substitute components. Scroll down to read the company's announcement of this nationwide expansion. Statement by American Honda Regarding National Safety Improvement Campaign: Driver's Front Airbag Inflator Supplied by Takata Dec 8, 2014 - TORRANCE, Calif. Honda will voluntarily expand a regional Safety Improvement Campaign initiated in June 2014 (NHTSA No. 14V-351) into a national Safety Improvement Campaign affecting certain 2001 through 2011 Honda and Acura vehicles in the United States to replace the driver frontal airbag inflator, free of charge. Honda is expanding this Safety Improvement Campaign to address concerns raised by its customers whose vehicles were not included in the regional campaign.