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Profit at Honda doubles on strong global sales of cars and motorcycles

TOKYO — Honda reported Wednesday that its April-June profit more than doubled on healthy sales of its motorcycles and cars, as the Japanese company also received a perk from favorable exchange rates. Honda Motor Co. said its fiscal first quarter profit totaled 363 billion yen ($2.5 billion), up from 149 billion yen. Quarterly sales jumped 21% to 4.6 trillion yen ($32 billion). HondaÂ’s financial service division also reported growing sales. Honda said its profitability improved, especially in North America, where production recovered. Automakers around the world were slammed by supply shortages because of production delays related to social restrictions caused by the COVID-19 pandemic. But such restrictions have eased, allowing production to pick up again. Auto sales were about the same in Japan in the latest quarter as in the previous year, while dropping significantly in China because of intense competition from makers of battery electric vehicles, Honda said. Honda is banking on growth in EVs in the U.S. market, where it recently announced it is joining six other companies in the creation of a high-powered charging network across North America. Worries about climate change have helped set off a dramatic shift in the auto industry toward battery electric vehicles, allowing for relative newcomers like Tesla and BYD to prosper, while catching some Japanese makers off guard with their hybrids and regular gasoline-powered models. Honda said a computer chip shortage crimped its motorcycle sales in India, while sales rebounded in Indonesia as production recovered. Honda said it sold 901,000 vehicles in the latest quarter, up from 815,000 a year earlier. It also sold more motorcycles worldwide at nearly 4.5 million, up from 4.2 million. Honda added 23 billion yen ($160 million) to its quarterly operating profit because of the impact of currency exchange rates. A weaker yen, trading lately at about 143 yen to the U.S. dollar, is a boon for Japanese exporters by boosting the amount of its overseas earnings when converted into yen. Honda stuck to its full year projection of an 800 billion yen ($5.6 billion) profit, up from 651 billion yen a year earlier. Honda shares slipped 0.9% on the Tokyo Stock Exchange. Related video: Earnings/Financials Acura Honda

Check out these cool displays from Honda's new Ohio museum

Honda undoubtedly has its roots in Japan, but when it comes to its US operations, the automaker holds some very deep ties to the Buckeye State too. The company has been building cars at its Marysville, OH, campus since 1982 and over 10 million Accords have left there since then. The latest addition there is something that might actually bring brand fans to the site, though. The newly opened Honda Heritage Center museum is part of the recently constructed 160,000-square-foot Technical Development Center. The place offers a chance to take a tour of the company's history. While it's not the lavish, multi-story affair from Japan, the site still shows off some quite cool vintage products. The exhibits include an area dedicated to Honda's racing efforts, examples of its many motorcycles and several of its early models, including a '70s Civic. A HondaJet and displays of some of the company's engines are there, as well. The Heritage Center will open to the public in January, and other portions of the Technical Development Center will be responsible for training Honda employees. The Marysville campus will keep growing in the near future too with production of the upcoming Acura NSX taking place at a new facility nearby there. Check out the gallery for a glimpse of just some of what Honda has on display at its new museum. Honda Heritage Center: A tribute to the past, a focus on the future New Museum in Ohio Showcases Honda History in North America Dec 18, 2014 - MARYSVILLE, Ohio The Honda Heritage Center in Marysville officially opened its doors today, offering the world a glimpse of the innovative history and growth the company has achieved in Ohio and North America during the past 55 years. "The new Honda Heritage Center is a collection of Honda dreams in the form of products that are responsible for millions of customer relationships," said Takuji Yamada, chief operating officer of Honda's North American regional operations. "The great variety of products on display – including powersports, power equipment and automobiles, as well as aviation and robotics – together with the major milestones highlighted, tell the stories of Honda associates in Ohio and from throughout North America." Ohio Gov. John Kasich joined Honda officials and state and local community leaders to celebrate the opening of the new $35 million, 160,000-square-foot facility, which includes a museum, Technical Development Center and office space for Honda North America.

Honda HR-V gets early reveal

If the Honda HR-V feels awfully familiar to you by now, you're not alone. We've seen it debut in Japanese form (dubbed "Vezel"), caught a prototype in Paris, and Honda first showed us the US-spec version in press-photo form all the way back at the New York Auto Show in April. We're finally going to get all the details on Honda's new subcompact crossover this week as part of the Los Angeles Auto Show, but first, we're getting an early look at the CUV today.
We met the Honda HR-V for a cup of coffee this morning at Randy's Donuts just outside of Los Angeles, and got our first look at the new CUV in the metal. It's a handsome little thing, offering a higher-riding, more butch alternative to the Fit hatchback on which it's based. We particularly like how the rear door handles are integrated into the pillars, for an almost three-door look from some angles.
Technical details are still scarce as of this writing, though we expect those to be revealed during Honda's press conference on Wednesday. For now, we just know that the HR-V should be an incredibly practical little thing, using the Magic Seat system that has made the Fit such a versatile and capacious subcompact. Stay tuned for more, and see the HR-V from all angles in our live gallery, above.