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Honda charged another $363 million over Takata airbags

The Takata airbag recall is growing increasingly expensive for Honda. In the latest hit to the automaker's bottom line, the company is revising the expected costs of its global safety campaigns by an additional 44.8 billion yen ($363 million) after the massive expansion in May. Months ago, Honda announced that it had set aside 50 billion yen ($425 million at the time) to meet the predicted expenses. According to Automotive News, due to the rather arcane laws of accounting, these new costs will actually be applied to the fiscal year that ended on March 31, rather than the current one. Honda's revised earnings will be announced in late June. The company previously reported an operating profit of 651.7 billion yen ($5.3 billion), which was down 13 percent from the previous year. There has been no change to planned dividends for investors. In the US, Honda and Acura have a total of about 6.28 million vehicles in need of a replacement airbag inflator, and the automaker says about two million of those are already repaired. In addition to the Takata campaign, the company has faced other financial setbacks during this calendar year. For example, in early January, it received a $70 million fine from the National Highway Traffic Safety Administration for failing to report 1,729 cases of injuries or deaths over 11 years. As part of a strategy to improve quality globally, Honda cut back its global sales forecasts for the coming year, and it also decided not to make any volume predictions through 2017. To: Shareholders of Honda Motor Co., Ltd. From: Honda Motor Co., Ltd. 1-1, Minami-Aoyama 2-chome, Minato-ku, 107-8556 Tokyo Takanobu Ito President and Representative Director Notice of Events after the Reporting Period Regarding Product Warranty Expenses Honda Motor Co., Ltd. (the "Company") and its consolidated subsidiaries have been conducting market-based measures in relation to airbag inflators, such as product recalls and a Safety Improvement Campaign. Due to factors arising since May 2015 such as an expansion of the scope of these market-based measures based on an agreement between our supplier and the U.S. National Highway Traffic Safety Administration, a change has arisen in the estimate relating to product warranty expenses. The amount of product warranty expenses now expected to be incurred is 44,800 million yen.

Honda to dub Fit-based as HR-V for North America

You may remember it as the Urban SUV (pictured above) from when it debuted in concept form at the Detroit Auto Show last year, or know it as the Vezel as the production version was unveiled for the Japanese Domestic Market at the 2014 Tokyo Motor Show. But when Honda starts exporting its new Fit-based crossover - or better yet, building it in Mexico for North American consumption - it will be called the HR-V.
This news comes courtesy of Honda enthusiast forum Temple of VTEC. When contacted by Autoblog, Honda spokesmen declined to comment on the veracity of the report, saying only that it would "announce the name in the near future," but the handle fits with what we know about Honda's history with compact crossovers. The previous HR-V (which was not available in the States) was a high-riding, squared-off crossover built between 1999 and 2006 and based on the Fit's predecessor, the Honda Logo.
While the HR-V moniker might not have name recognition in North America, it would in Europe where Honda also hopes its new crossover will find eager customers. It will also fit in nicely below the CR-V that will continue on as the HR-V's larger stablemate.

See the evolution of McLaren F1 cars in one GIF

If you dig racecars and history, you'll enjoy the .gif file on display below. It comes to us from the folks at automotive parts website PartCatalog.com, and it shows how McLaren's Formula 1 cars have changed from the very first one to this season's black and orange Honda-powered machine. And they have certainly changed. That very first car had scarcely an aerodynamic aid to the radically winged racer of today.It's also interesting to see how driver positioning has changed over the years. Through the '70s and '80s, the driver was pushed farther and farther to the front. Then in the '90s and '00s, the driver started to be pushed back to the middle, and longer noses became common. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This .gif file isn't just interesting for seeing how the cars have changed, though. It also features some of the most famous F1 cars of all time. Fans of vintage F1 racing and of the film Rush may recognize the McLaren M23 James Hunt piloted to a championship victory over rival Nicki Lauda in 1976. There's also the 1985 McLaren MP4/2B that was the last McLaren Nicki Lauda would drive, and the car that would take Alain Prost to a championship. Prost's rival Ayrton Senna also has a car in this .gif, and that's the 1988 Honda-powered car he drove to his first ever championship. There are many other cars in this .gif we don't have time to cover though, but you can learn more about them and the cars we mentioned by checking out McLaren's great history page. Each car there has a brief profile covering the stats, and lengthier articles with more background. It's a great way to spend a morning. Related Video: