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Honda replaces CEO Takanobu Ito with Takahiro Hachigo

At its upcoming shareholders' meeting in June, Honda is set to make a raft of changes to its senior personnel, including new board members, directors, auditors and operating officers. But the most pivotal of the new appointments will see the replacement of its president and chief executive. That job currently belongs to Takanobu Ito, who will step down in June and hand the reins over to Takahiro Hachigo, subject to ratification by the shareholders. Hachigo-san has been with Honda since 1982, rising up the ranks and holding a series of key executive and R&D posts with the Japanese automaker in locations around the world – including here in the United States, where he spearheaded development of the original Odyssey minivan and directed the company's American R&D center. He subsequently headed Honda's European operations and currently serves as its most senior officer in China. He's 55 years old. He takes over from Ito-san after a tumultuous period for Honda. Ito, 62, joined Honda in 1978 and similarly rose through the R&D ranks, holding some of the same positions along the way that Hachigo would later, albeit more focused on the company's operations at home in Japan. Ito took over as president and CEO in 2009, steering Honda through a difficult period marked by fluctuating currencies, the tsunami disaster of 2011 and flagging quality issues that have forced Honda to issue unprecedented recalls, focusing much criticism on Ito's leadership. Honda recently recalled millions of vehicles that were fitted with Takata's faulty airbag inflators, which had the unpleasant tendency to spew shrapnel at consumers. Ito will remain on board as a director and advisor, but what we'll be most interested to see is the direction in which Hachigo will take the company. Under Ito's leadership, Honda has brought back performance icons like the NSX and Civic Type R, launched innovative environmental technologies, delved into aerospace with the HondaJet and re-entered Formula One. One of Hachigo's first priorities will undoubtedly be to restore the company's reputation for quality, but we'll have to wait and see what (if any) sort of new and exciting developments he'll spearhead once he takes office. Honda Motor Co., Ltd. Announces New President & CEO Tokyo, February 23, 2015 --- Honda Motor Co., Ltd.

Honda Fit, Vezel Hybrids recalled in Japan; US vehicles not affected

Honda has announced a good-sized recall of two popular Japanese-market hybrids: the Fit Hybrid and the Vezel Hybrid are both headed back into the garage. The problem this time around lies in the software program that controls the 7-speed dual clutch transmission (DCT) that could "cause a delay in the ability to begin driving or the inability to move at all." In total, 81,353 units are affected (70,929 Fit Hybrids and 10,424 Vezel Hybrids) and all were made in Japan between July 2013 and February 2014. There were two previous recalls for the new Fit Hybrid's DCT, and you can find the details of them below. Jessica Fini, assistant manager of PR for Honda North America, told AutoblogGreen that this recall will not have any impact on US Honda vehicles. For one thing, the US Fit has a continuously variable transmission (CVT) instead of a DCT, so the upcoming launch of the new Fit here (the US doesn't get the Fit Hybrid) will not be delayed. Honda's upcoming small SUV in the US (based on the Vezel, but will arrive with a different name) isn't going to launch here until the end of the year, so there is time to fix any problems before launch. She also said that the Acura RLX, despite being a DCT, does not use the same transmission as the Fit Hybrid does, since the Fit transmission is specific to the one-motor hybrid system and the RLX uses three electric motors. Recall of All-New Fit Hybrid and Vezel Hybrid ref. # C14-009 TOKYO -- February 10, 2014 – Honda Motor Co., Ltd. today announced a voluntary recall of the all-new Fit Hybrid and Vezel Hybrid produced in Japan from July 2013 through February 2014 due to a problem with the software program controlling the 7-speed dual clutch transmission (DCT) which could cause a delay in the ability to begin driving or the inability to move at all. Honda today notified the Ministry of Land, Infrastructure, Transport and Tourism of the recall with a total recall population of 81,353 units. Honda conducted two recalls in October and December 2013 due to a defect with the software program controlling the 7-speed DCT which could have caused a delay in the ability to drive the vehicle or the inability to drive. This will be the third recall related to the defect of the 7-speed DCT.

Average transaction prices climb to a record $36,270 in January

The automotive sector made a hash of the numbers last month, a mess of pluses and minuses clogging the transaction-price charts according to Kelley Blue Book. The overall industry rose one percent, even though buyers bought fewer cars and light vehicles in January 2018 vs 2017 using the selling-day adjusted rate. Due to January transaction prices rising to $36,270, a record for January, the value of new vehicles sold climbed more than $1 billion compared to January 2017. KBB's transaction prices don't include customer incentives, which changes the complexion slightly; average incentive spending rose to just over ten percent. The average transaction price in December 2017 was $36,756, so January dropped a bit - nothing unexpected, with the month annually blamed for "January doldrums." More revealing is the fact that the average transaction price in January 2017 was $34,910. This year's plumped-up figure came courtesy of the continued shift to crossovers, SUVs, and light trucks, which shouldn't surprise anyone who's read an automotive blog in the past 20 years. That category comprised nearly 70 percent of new vehicle sales for the month. Some manufacturers profited more than others, though. Fiat Chrysler managed 12.8 percent fewer sales in January compared year-on-year, but the company's vehicles sold for $1,300 more. The Ford brand suffered a 6.3-percent dip in sales, but brand transaction prices increased $2,000, while a Lincoln sold for $8,700 more on average. General Motors sold more cars and sold them for more money; overall GM transaction prices rose four percent, or $1,270, while a GMC traded hands for seven-percent more than in January 2017 and a Cadillac got $2,300 more on average. Of KBB's listed automakers, the Volkswagen Group got the most of out its customers, transaction prices rising at the German automaker by 5.6 percent to $42,243 in January 2018 compared to a year earlier. American Honda followed with a 4.3-percent increase to $28,991, GM in third at 4.1 percent to $40,313. Find your next car at Autoblog using our new and used car listings or the Car Finder tool. Broken out by segment, minivans rocked the table, transaction prices leaping by 7.9 percent to $35,380 compared to January a year earlier. Luxury cars boasted the next-highest rise, at 3.6 percent to $58,533.