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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 shows off 2015 Euro-market Jazz

The 2015 Honda Jazz is here, wearing much the same look we caught on the Jazz "concept" at the Paris Motor Show last year. No, make that exactly the same look as the "concept," save for the fog lights on the pictured model. A move to the same global B-segment platform as the Honda HR-V makes the new Jazz lighter and stiffer than before, and pays all kinds of benefits for the subcompact. Prime among them is interior space - Honda says it's class-leading - the new hatch being 95 millimeters longer. The fuel tank is underneath the front seats, leaving the rear bench free for the installation of Honda's Magic Seat system. Three potential cargo bay arrangements are called "Utility," "Tall," and "Long," achieved by rearranging the positions of the rear seatbacks and bolsters. The Honda Connect infotainment system uses a seven-inch touchscreen, hooks up to the Internet, and transmits real-time news and Internet radio. Following a trend of buyer-installable navigation working through the factory screen, integrated Garmin Nav is an option, and other apps can be downloaded from the Honda App Center. Ride quality and interior comfort get a boost thanks to the 30-mm longer wheelbase and suspension re-engineered with better, lighter parts and new dampers, as well as geometry more inclined to the dynamic. The lighter platform bones let Honda load up on soundproofing, creating a quieter cabin. A 1.3-liter VTEC gasoline engine sits underhoood, offering 101 horsepower, with a new six-speed transmission for a semi-automatic CVT for shifting. Driver safety systems make an appearance here, too, include Lane Departure Warning, Traffic Sign Recognition, Intelligent Speed Assist, and High-beam Support. Some of those features will only be available in Europe, naturally, but we'll obviously get a lot of goodies on our Fit, too. The press release below has the particulars. ALL-NEW HONDA JAZZ REDEFINES B-SEGMENT WITH ADDED SPACE, VERSATILITY, REFINEMENT AND TECHNOLOGY - Third generation Jazz based on Honda's global B-segment platform - New 1.3 litre i-VTEC petrol engine from Earth Dreams Technology series - Extra interior space, made versatile with Magic Seats® system - Bold, fresh exterior and refined cabin - New Honda Connect infotainment system - Advanced Driver Assist Systems enhance safety 24.02.2015 -- Arriving in Europe in summer 2015, the third-generation Jazz features bold yet sophisticated exterior and interior design, with unrivalled interior space and versatility.

Japanese spark plug giant NGK pleads guilty to price fixing, to pay $52M fine

The ongoing investigation by the Department of Justice into price fixing in the automotive industry has nabbed one more company breaking the law. Japanese parts giant NGK Spark Plug Company agreed to plead guilty to a felony count of pricing fixing and bid rigging in the in the US District Court in Detroit. Its punishment is a $52.1 million criminal fine and to continue to cooperate with the DOJ's sleuthing into the problem.
According to the DOJ, NGK conspired to fix prices on spark plugs, standard oxygen sensors, and air fuel ratio sensors on vehicles from major automakers in the US, including the former DaimlerChrysler, Honda and Toyota, in a scheme that ran from at least January 2000 to July 2011. The charge claimed that the company and its co-conspirators held meetings where they agreed on bids and price quotes that were submitted to the automakers.
With the latest plea, the DOJ has caught 28 companies and 26 executives for price-fixing and bid rigging in the auto parts industry, and they have collected $2.4 billion in criminal fines. In 2013, the feds brought nine Japanese suppliers down at once, to collect $740 million. Scroll down to read the DOJ's complete announcement of the case.