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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

The new Honda Ridgeline will debut in Detroit

Hey, remember the Ridgeline? Honda's unibody midsize truck is coming back, and you'll see it at the Detroit Auto Show next month. I actually already saw it at a private event, but I can't tell you anything about it. Let's just say that this is one debut you won't want to miss at NAIAS in January. There's not much to go on with regard to the accompanying teaser image and press release (below). All I can say is that it's a truck, it's a Honda, and it's called Ridgeline. Expect it to offer all the usual Honda interior packaging magic, as well as a ton of onboard tech and safety equipment. The midsize truck segment is booming right now. General Motors launched the new Colorado and Canyon twins, Toyota is now selling the updated Tacoma, and now Honda's getting back into the game with a similarly sized truck. But given its unibody construction, I'm interested to see how the Ridgeline will stack up against its literally tough competition. Stay tuned for more, next month. Honda Accelerates Sweeping Light Truck Makeover with New Ridgeline Pickup Set for Global Debut at the 2016 North American International Auto Show Honda will challenge conventional thinking in the midsize pickup segment with the return of the Honda Ridgeline truck, set to make its world debut at the 2016 North American International Auto Show in Detroit on Monday, January 11 at 1:15 p.m. EST. Designed, developed and manufactured in America, the all-new Ridgeline is the fourth new or significantly refreshed light truck model introduced by Honda in the past 18 months and will hit roads nationwide in the first half of next year. "We developed this new Honda Ridgeline to offer something new and fundamentally better suited to the way many buyers use their truck," said Jeff Conrad, senior vice president and general manager of the Honda Division. "Ridgeline will deliver everything you'd expect in a Honda from incredible packaging and fuel-efficiency to top safety technologies and innovative, segment-first features. We're honored to once again debut the Ridgeline in Detroit at the North American International Auto Show." Honda began the complete remake of its light-truck lineup in the fall of 2014 with the freshened 2015 Honda CR-V, America's best selling SUV. Earlier this year, Honda launched the all-new HR-V crossover, gateway to the Honda truck lineup, and the third generation of its popular Pilot three-row SUV.

Ward's reveals annual 10 Best Engines list for 2013

Ward's Auto has released its annual 10 Best Engines award winners. The 2013 list covers the full width and breadth of the internal combustion spectrum, from a spate of efficient four-cylinders to the most powerful production V8 on the planet. As always, the entries must be available in a production vehicle in the first quarter of 2013 with an MSRP of less than $55,000. The supercharged 3.0-liter V6 from the Audi S5 held on for the fourth consecutive year, and BMW earned two spots on the list with its turbo 2.0-liter four-cylinder and turbo 3.0-liter inline-six.
Ford pulled in two awards for its 2.0-liter EcoBoost four-cylinder and and the supercharged 5.8-liter V8 from the Shelby GT500. Honda matched BMW and Ford with two wins of its own. Wards awarded the 2.4-liter four-cylinder from the Honda Accord Sport as well as the 3.5-liter V6 from the Honda Accord. Chrysler, General Motors and Subaru each garnered a spot on the list as well for the 3.6-liter V6 in the Ram 1500, the turbo 2.0-liter four-cylinder in the Cadillac ATS and the 2.0-liter four-cylinder the Subaru BRZ, respectively. You can read the full press release below for more information.