2014 Honda Accord Ex-l on 2040-cars

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Weekly Recap: Ferrari looks to reclaim old success with new manager

Clearly, Ferrari doesn't race for fourth place, and this week, major changes continued at the Scuderia. It was a rough year for Ferrari, and the Scuderia conducted its season-ending tests in Abu Dhabi this week with a view toward a fresh start in 2015 with new leaders and a new ace driver. Though plenty of other Formula One teams were disappointed with their finishes in 2014, Ferrari was perhaps the most eager to put this season in its rear-view mirror. The Scuderia finished a distant fourth in the Constructors standings with 216 points, well behind No. 1 Mercedes (701 points), and Ferrari failed to win a single race as the Silver Arrows dominated the grid. It was an especially bitter pill for a team that claims 16 Constructors championships and 15 Drivers titles – the most in history – and is the only surviving team from F1's first season, 1950. Clearly, Ferrari doesn't race for fourth place, and this week, major changes continued at the Scuderia. Ferrari named Philip Morris executive Maurizio Arrivabene as team principal. He replaced Marco Mattiacci, who held the job for only seven months after taking over for Stefano Domenicali, who resigned in April amid the Scuderia's early-season struggles. Phillip Morris (through its Marlboro brand) is a key Ferrari sponsor, and that played a role in Arrivabene's ascension. Still, he's no stranger to F1, and has been intimately involved in the Ferrari-Marlboro partnership. He also has served as the sponsors' representative on the FIA's F1 Commission since 2010. In a statement, new Ferrari chairman Sergio Marchionne said: "We decided to appoint Maurizio Arrivabene because, at this historic moment in time for the Scuderia and for Formula One, we need a person with a thorough understanding not just of Ferrari, but also of the governance mechanisms and requirements of the sport." Arrivabene's background is primarily in marketing and communication, and most recently he held the title of vice president of consumer channel strategy and event marketing for Philip Morris. He has been with the company since 1997. Arrivabene now leads a team that's rife with change. Marchionne took over in October when longtime boss Luca di Montezemolo quit in a disagreement about Ferrari's future, and the company itself will be spun off from parent Fiat Chrysler Automobiles in 2015.

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.

Average new-car fuel economy figures continue record pace

Manufacturers are making more efficient cars and trucks; we've known that to be true for some time. Nearly every new car has some sort of trick to eke a few extra miles out of every gallon of fuel. Whether that be turbocharging, active aerodynamics or hybrid technology/electrified powertrains, the fact is that our vehicles are more efficient than ever before.
Thanks to a recent study by TrueCar, we've got fresh quantitative data to support the above statements. For the fourth month in a row, we've seen an improvement in national fleet fuel economy. We Americans are 0.7 miles per gallon more efficient than we were last month, and our cars are 1.6-mpg better than at this time last year. That said, we're still down on 2013's high, which was set back in January at 24.5 mpg.
Not only does this reflect the improved technologies in our vehicles, but it demonstrates a changing mindset among consumers, who are purchasing more efficient vehicles despite the relative stabilization of fuel prices. Every fuel-efficient model sold drives its manufacturers fleet average up.