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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.

One lucky customer got the first HondaJet for Christmas

The wait is finally over – for one fortunate customer, at least. After an extensive gestation period, the Honda Aircraft Company has delivered the first HondaJet to its eagerly awaiting new owner. And with it, the Japanese industrial giant has stepped into yet another territory of motorized transportation. Though Honda first started experimenting with aircraft as far back as the 1980s, the development of the HondaJet as we now know it dates back to the late 1990s when designer Michimasa Fujino – now chief executive of the Honda Aircraft Company – first penned its form. The company has been working on getting it into the air and into customer hands ever since, with that process culminating now on no less fitting a day than just this past Christmas Eve. Following the type certification received from the Federal Aviation Administration earlier this month, the handover of the first customer aircraft took place at the company's headquarters at Piedmont Triad International Airport in Greensboro, NC. That's where Honda will be producing all its aircraft, performing service and maintenance, and training its customer pilots, which has already begun on its on-site, full-motion flight simulator. A network of dealers handles sales across North America, South America, and Europe. The company did not disclose the identity of the first customer, but suffice it to say it was not Jenson Button – even though he is, once again, driving a Honda-powered F1 car. The HondaJet HA-420 is classified as a very light business jet, measuring 42 feet and 7 inches long with a 39'9" wingspan. Power comes from a pair of turbofan engines produced by Honda and General Electric, each good for over 2,000 pounds of thrust and together are capable of propelling the aircraft to a cruising speed of 435 miles per hour or a top speed of 483 mph. That makes the HA-420 far and away the fastest vehicle Honda makes across numerous modes of transportation. In addition to cars, trucks, and jets, the company produces motorcycles, ATVs, marine engines, and lawnmowers, making it one of the most diverse manufacturers in the industry. Related Video: Honda Aircraft Company Begins HondaJet Deliveries Dec 23, 2015 - GREENSBORO, N.C. Honda Aircraft Company today announced it has begun deliveries of the HondaJet, the world's most advanced light jet. The company delivered the first aircraft today at its world headquarters in Greensboro, North Carolina.

10 automakers sued over keyless ignitions

Keyless ignition has rapidly proliferated throughout the auto industry to become a fairly normal feature on new cars. It's supposed to offer the convenience of keeping the fob in your pocket and just pressing a button to drive away. However, ten major automakers are now being sued in US District Court over claims that the system is dangerous, Reuters reports. The suit alleges that people are forgetting to shut off the engine, and the lack of an idle timer is the cause for 13 deaths by carbon monoxide poisoning and multiple injuries. The suit currently includes 28 plaintiffs, according to Reuters, but the lawyers are asking for class-action status to potentially add many more. The case goes after a major swath of the industry, including BMW, Daimler, FCA, Ford, General Motors, Honda, Hyundai, Nissan, Toyota, and Volkswagen, plus their related brands like Acura, Infiniti, Mini, and Lexus. In all, over five million vehicles are affected. The assertion here is that people walk away from their vehicle without shutting it off because they believe the engine shuts off automatically. If parked in a garage, carbon monoxide can build up, leading to poisoning. The lawyers claim automakers know this is a problem and also cite 27 complaints to the National Highway Traffic Safety Administration about the issue, according to Reuters. The plaintiffs are asking for an automatic shut-off and damages from the companies. These concerns have come up before, though. Toyota previously faced a lawsuit over a carbon monoxide death after a woman accidentally left her Lexus running. Also earlier this year, GM recalled 64,186 examples of the 2011-2013 Chevrolet Volt because owners weren't shutting them off. The problem resulted in two injuries, and the company released a software update to limit the idling time.