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Honda pulling plug on slow-selling Insight hybrid

Insight hasn't amounted to even a tenth of Prius sales, and well over half of those sold were JDM.
It's been a rough ride for the Honda Insight, and now its journey appears to be at an end - word is that the five-door hybrid hatchback is going out of production.

NHTSA expands new Takata probe to 4 more automakers

DETROIT — The U.S. government's highway safety agency has launched an investigation into four additional automakers that have a potentially deadly type of Takata air bag inflator in their vehicles but have yet to recall them. The National Highway Traffic Safety Administration said in documents posted Thursday that it is investigating Audi, Toyota, Honda and Mitsubishi in connection with a Takata recall involving 1.4 million inflators. This brings the total number of manufacturers potentially impacted to five, as BMW was connected to the issue when it was brought to light earlier in December. The inflators made by the now-bankrupt Takata have a distinct and separate problem that can cause them to blow apart a metal canister and spew shrapnel into people's faces and bodies. The problem killed a driver in Australia who was in an older 3-Series BMW, which has already recalled more than 116,000 vehicles. The problem is so dangerous that in some cases BMW has told drivers to park their vehicles until repairs can be made. The safety agency says in documents that Takata didn't provide details on the affected makes, models or model years of vehicles with the defective inflators. So it is telling the companies to recall them promptly. The agency says that based on when the faulty inflators were produced, it's likely that the vehicles to be recalled came from the 1995 through 2000 model years. In letters to all four automakers, NHTSA says they have five business days to notify the agency after finding out about a safety defect. “If your company has not yet gathered enough evidence to make a determination that the subject air bag inflators present an unreasonable risk to motor vehicle safety, reply with a detailed work plan including the benchmark dates required to make the determination,” the agency wrote in letters to all four automakers dated Wednesday. A Honda spokesman said Thursday it hasn't determined yet whether its vehicles are affected, but a decision should be made soon. Audi, Mitsubishi and Toyota said they are still investigating. NHTSA has told the companies to respond by Jan. 17. On Dec. 4, NHTSA posted documents from Takata and BMW detailing the problems. The documents said the Australian driver was killed, while another Australian driver and a driver in Cyprus were injured. Unlike previous recalls, the Takata non-azide inflators do not use volatile ammonium nitrate to fill the air bags in a crash.

Honda sees sales up but profit sliding 16 percent in 2017-18

TOKYO - Honda forecasts a 16 percent fall in operating profit for the current financial year as the Japanese automaker sees higher auto sales being offset by a stronger yen and research-and-development costs. Japan's No. 3 automaker said it expects an operating profit of 705 billion yen ($6.34 billion) in the current FY2018, down from 840.7 billion yen posted in the fiscal year just ended, and lower than an average estimate of 850.8 billion yen from 23 analysts polled by Thomson Reuters I/B/E/S. It sees a 14 percent slide in net profit to 530.0 billion yen this year, down from 616.5. Honda's projections are based on a forecast that the yen will average 105 yen to the U.S. dollar through next March, stronger than the 108 yen rate in the year just ended.BUT CAR SALES ARE UP At the same time, there's good news as Honda expects its global vehicle sales to edge up 1 percent to 5.08 million this year, bolstered by growth in Asian sales to 2.06 million units, beating out North America to become Honda's top market as more Chinese drivers flock to its cars. The company expects to sell 1.92 million vehicles in North America, 2.5 percent less than the year just ended as it struggles to sell sedans including the Accord, which have fallen out of fashion in the past few years. Honda has been ramping up production of SUVs to keep up with strong demand for larger models in the United States, although overall vehicle sales show signs of slowing following a boom cycle after the global financial crisis. Mazda is taking a similar strategy, announcing on Friday it would expand production of SUV crossover models at home, while equipping overseas plants to enable more flexible production of models according to market needs. Japan's No. 5 automaker forecast a 19 percent jump in operating profit for the current financial year as it expects higher sales volumes, particularly in North America, to help it recover from last year's profit slump.A CONSERVATIVE OUTLOOK Executive Vice President Seiji Kuraishi acknowledged that Honda's expected currency hit of 95 billion yen was based on a "conservative" yen forecast, adding that growing costs to create next-generation cars would also impact earnings. "Our costs are rising to develop new technologies which will be needed in the future, like automated driving functions and electric cars," he told reporters at a results briefing.