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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

2016 Honda Civic Reveal | Autoblog Minute

Honda reveals the 2016 Civic in Detroit and Autoblog was on hand for a first look. Honda Autoblog Minute Videos Original Video Sedan Detroit reveal civic

The accidentally green episode | Autoblog Podcast #486

This week, consumer editor Jeremy Korzeniewski and Autoblog Green editor-in-chief Sebastian Blanco join Mike Austin and things go in a "green" direction – it just happened that way. We hit the week's news (including some green-related items), talk about the green things we've been driving, hear part of an interview with the filmmakers behind a new movie about the 2008 bailout, and then answer a listener question. The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want questionable buying advice, send a message or a voice memo to podcast at autoblog dot com. Autoblog Podcast #486 Topics and stories we mention Almost half of VW TDI owners have already agreed to settle The Chevy Colorado has a military-spec, fuel cell-powered cousin 2017 Honda Accord Hybrid 2017 Hyundai Elantra Eco Jeremy's 1975 VW camper van A preview of Live Another Day, a film about the 2008 auto bailout Rundown Intro - 00:00 The news - 05:26 What we've been driving - 18:43 An excerpt from our interview with the Live Another Day filmmakers - 37:20 Listener questions - 40:00 Total Duration: 47:52 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Green Podcasts Honda Hyundai vw diesel scandal