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Honda sketches boxy crossover concept for Shanghai

In America we may be gearing up for the New York Auto Show, but elsewhere in the world there are other shows on the horizon. Like the Shanghai Motor Show, which will kick off later in April. That's where Honda plans to unveil a new crossover concept. The Japanese automaker isn't saying much about what's new with this concept, except to say that it's been designed specifically for the Chinese market. From this teaser image we can already see that the concept looks decidedly more straight-edged and boxy than the Pilot and CR-V we get over here, striking a form that almost begins to resemble a Kia Soul, but not so much that we'd characterize it at this early stage as a potential successor to the Element. We'll just have to sit tight to find out more, but with the doors in Shanghai set to open to the press on April 20, it won't be too long now. Honda to Exhibit World Premiere of All-new Concept Model at the Auto Shanghai 2015 - Overview of Honda Exhibit - BEIJING, China, March 31, 2015 – Honda Motor (China) Investment Co., Ltd., a wholly-owned Honda subsidiary in China, today announced plans to exhibit the world premiere of an all-new concept model as well as other all-new Honda models at Auto Shanghai 2015 (The 16th International Automobile & Manufacturing Technology Exhibition, press days: April 20-21, 2015, public days: April 22-29, 2015). ?Overview of Honda exhibit Jointly with Guangqi Honda Automobile Co., Ltd. and Dongfeng Honda Automobile Co., Ltd., Honda will exhibit the world premiere of a concept model for a new SUV exclusively developed for the Chinese market. Other models on display will include the all-new City, which underwent a full model change, and the new CR-V equipped with a completely new powertrain. ?A new SUV concept model (world premiere) Design sketch Design sketch ?City (China premiere) ?CR-V (China premiere) ?F1 machine - McLaren-Honda MP4-30 ?GL1800C, NC750S ?Accord Hybrid (the U.S. model) ?Odyssey special-needs vehicle (equipped with side lift-up sheet)

Honda profit targets tumble in wake of Takata scandal

Takata's massive airbag inflator recall will likely do some damage to Honda's bottom line this year, according to the Japanese automaker's latest forecasts. The company will allocate 50 billion yen ($425 million) to fulfill costs related to the safety campaigns, Reuters indicates. The decision will reduce estimated operating profit by about 6.5 percent to 720 billion yen ($6.1 billion US) for the fiscal year ending March 31. In addition to lower profits, Honda also cut back its sales estimate for the year to 4.45 million vehicles from the previous 4.62 million, according to Reuters. This was largely due to lower-than-expected demand in Japan. "We are not seeing a big impact on sales in North America from the airbag issue," company vice president Tetsuo Iwamura (pictured above) told Reuters. The decreased forecasts come at the same time as the possibility of another death in a Honda vehicle from the Takata parts. According to Automotive News, a man in Florida died in a crash in his 2002 Accord, but investigators have not yet determined whether the inflator was the cause. However, the vehicle was included in a 2011 recall for the part and was not repaired. The family intends to file a lawsuit alleging the inflator ruptured, spraying metal shrapnel into the driver's neck. Reportedly, the owner was never notified of the recall. While the Takata inflator recall is affecting many companies with alleged links to at least five deaths and 139 injuries worldwide, Honda has it among the worst. Including vehicles covered under the previous regional repair campaign for the issue, the automaker needs to repair roughly 5.4 million vehicles just in the US. Honda has taken action by employing suppliers other than Takata to supply some of its replacement parts for the recall. The business is also reportedly switching airbag suppliers for the next-gen Accord and possibly the 2016 CR-V and Odyssey.

How new car shortages may impact your buying experience

If you want further proof that the auto industry is bouncing back, look no further than the empty lots and forecourts of your local dealership. According to a story by The Wall Street Journal, continued high demand for mainstream cars is overtaxing automakers' ability to produce enough models. Several dealers interviewed for the story are reporting two-week supplies as opposed to the typical two-month allocations.
With sales expected to hit 1.4 million units when August numbers arrive shortly and incentive spending down to its lowest amount since January, these limited supplies are pushing prices even higher. For example, according to the WSJ, the average price of a Ford Fusion is up past $26,000. Unfortunately, it's difficult for manufacturers to increase production quickly. If it invests in its facilities, as many manufacturers have done, it risks wasting cash if growth suddenly slows. At the same time, the momentum gained over the past several years could be short lived if vehicle supplies continue to dwindle. "Manufacturers are in a precarious situation," notes Karl Brauer, a senior director at Kelley Blue Book.
Low interest rates and a wealth of desirable features are also allowing customers to purchase more expensive vehicles while justifying their higher overall price tags, a situation that is compounding supply shortages. Even now, during the annual end-of-summer clearance season, deals on new vehicles are remarkably difficult to come by. According to the report, the Toyota Corolla is in a self-inflicted state of shortage, as Toyota clears out inventory in anticipation of the new 2014 generation arriving in dealers. Ford's supplies should rebound as Fusion production comes on line at its Flat Rock, Michigan factory. The Chevrolet Impala, Honda Odyssey, Civic, and Accord and Subaru Forester are also facing shortages.