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Honda Motor Co., Ltd. Reports Conso...

OKYO, July 29, 2014 /PRNewswire/ -- Honda Motor Co., Ltd. (HMC; NYSE) today announced its consolidated financial results for the fiscal first quarter ...

2014-Honda-Civic-SI

2014 Honda Civic Si is Fun!

Honda is known for building reliable, dependable, and high-value vehicles. The word fun generally isn't one that comes to the forefront when describi...

Honda Joins EPRI, Utilities and Aut...

Project seeks to develop a streamlined platform for vehicle-grid functionality that can help create value for drivers, improve grid reliability and...

honda speed patrol

More Honda Speed Patrol Citations

Honda is still spreading the word about an opportunity you have to share the fastest seat in sports with Mario Andretti. That's right, you could go fo...

Honda Motor Co., Ltd. Reports Consolidated Financial Results For The Fiscal First Quarter Ended June 30, 2014

OKYO, July 29, 2014 /PRNewswire/ — Honda Motor Co., Ltd. (HMC; NYSE) today announced its consolidated financial results for the fiscal first quarter ended June 30, 2014.

First Quarter Results

Honda’s consolidated net income attributable to Honda Motor Co., Ltd. for the fiscal first quarter ended June 30, 2014 totaled JPY 146.5 billion (USD 1,445 million), an increase of 19.6% from the same period last year. Basic net income attributable to Honda Motor Co., Ltd. per common share for the quarter amounted to JPY 81.29(USD 0.80), an increase of JPY 13.32(USD 0.13) from JPY 67.97 for the corresponding period last year. One Honda American Depository Share represents one common share.

Consolidated net sales and other operating revenue (herein referred to as “revenue”) for the quarter amounted to JPY 2,988.2 billion (USD 29,482 million), an increase of 5.4% from the same period last year, due primarily to increased revenue in automobile and motorcycle business operations, as well as favorable foreign currency translation effects.

Consolidated operating income for the quarter amounted to JPY 198.0 billion (USD 1,954 million), an increase of 7.1% from the same period last year, due primarily to continuing cost reduction efforts and an increase in sales volume and model mix, despite increased SG&A expenses as well as unfavorable foreign currency effects.

Consolidated income before income taxes and equity in income of affiliates for the quarter totaled JPY 198.8 billion (USD 1,961 million), an increase of 15.6% from the same period last year.

Equity in income of affiliates amounted to JPY 38.5 billion (USD 381 million) for the quarter, an increase of 21.5% from the corresponding period last year.

Business Segment

In motorcycle business operations, revenue increased 2.7%, to JPY 407.7 billion (USD 4,023 million) from the same period last year. Operating income totaled JPY 43.9 billion (USD 434 million), an increase of 3.3% from the same period last year.

In automobile business operations, revenue increased 5.6%, to JPY 2,319.5 billion (USD 22,885 million) from the same period last year. Operating income totaled JPY 99.8 billion (USD 985 million), an increase of 3.6% from the same period last year.

In financial services business operations, revenue increased 12.9%, to JPY 186.7 billion (USD 1,842 million) from the same period last year. Operating income increased 16.1% to JPY 51.8 billion (USD 511 million) from the same period last year.

In power product and other business operations, revenue decreased 1.3%, to JPY 74.2 billion (USD 732 million) from the same period last year. Operating income increased 75.5% to JPY 2.3 billion (USD 24 million) from the same period last year.

Explanatory note: United States dollar amounts have been translated from yen solely for the convenience of the reader at the rate of JPY 101.36=USD 1, the mean of the telegraphic transfer selling exchange rate and the telegraphic transfer buying exchange rate prevailing on the Tokyo foreign exchange market on June 30, 2014.

Forecasts for the Fiscal Year Ending March 31, 2015

In regard to the forecasts of the financial results for the fiscal year ending March 31, 2015, Honda projects consolidated results to be as shown below:

Fiscal year ending March 31, 2015

Yen (billions)
Net sales and other operating revenue 12,800.0 + 8.1%
Operating income 770.0 + 2.6%
Net income attributable to Honda Motor Co., Ltd. 600.0 + 4.5%
Basic net income attributable to Honda Motor Co., Ltd. per common share 332.91

Dividend per Share of Common Stock for fiscal year 2015

The Board of Directors of Honda Motor Co., Ltd., at its meeting held on July 29, 2014, resolved to make the quarterly dividend JPY 22 per share of common stock, the record date of which is June 30, 2014. The total expected annual dividend per share of common stock for the fiscal year ending March 31, 2015, is JPY 88 per share.

This announcement contains “forward-looking statements” as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based on management’s assumptions and beliefs taking into account information currently available to it. Therefore, please be advised that Honda’s actual results could differ materially from those described in these forward-looking statements as a result of numerous factors, including general economic conditions in Honda’s principal markets and foreign exchange rates between the Japanese yen and the U.S. dollar, the Euro and other major currencies, as well as other factors detailed from time to time.

2014 Honda Civic Si is Fun!

Honda is known for building reliable, dependable, and high-value vehicles. The word fun generally isn’t one that comes to the forefront when describing Honda vehicles.

The 2014 Honda Civic Si is on a mission to change all that.

“The 2014 Honda Civic Si is just plain fun to drive,” said Tony Carter, general manager at Northwest Honda dealership in Bellingham. “It’s quick, it’s nimble, and it’s the only model in it’s class available with a manual transmission. And that can mean some real fun for people who know what they’re doing. The 2014 model has more horsepower and more torque; it goes zero to 60 in just over six seconds.”

The 2014 Honda Civic Si comes in either coupe or sedan style. Like the writers of this article, we really like the sedan because it means more people (like small families) can enjoy the Civic Si, but certainly the coupe is just right for many people.

And the sedan style doesn’t sacrifice performance, at all. “Outfitted with one of the slickest shifting six-speed manuals in the business—the only transmission available on the Si—the new sedan proved a delight…”

Not only is it fun to drive, but unlike other “fun” vehicles, the 2014 Honda Civic Si get excellent gas mileage;  47 on the highway and 44 in the city. Saving money on gasoline is fun, right? In fact, the Civic Si is so fun, that the writers of the article picked it as their favorite Civic model. The bottom line for them: “While the Civic offers something for a wide range of buyers, our vote goes to the delightful Si that offers the combination of a fun-to-drive sports sedan and the practicality of a family hauler.”

Stop by Northwest Honda, Apple Valley Honda, or Sims Honda dealership today to take the 2014 Honda Civic Si for a fun test ride!

 

Honda Joins EPRI, Utilities and Automakers to Help Create an Open Grid Integration Platform for Plug-in Electric Vehicles

  • Project seeks to develop a streamlined platform for vehicle-grid functionality that can help create value for drivers, improve grid reliability and reduce GHG emissions
  • Honda pioneered a similar demonstration effort with IBM and PG&E (V1G)
  • Honda is participating in a vehicle-to-grid (V2G) demonstration with the University of Delaware and NRG Energy

Honda has joined a group of eight major automakers and 15 utilities organized by the Electric Power Research Institute (EPRI) to demonstrate a standards-based, open grid integration platform for plug-in electric vehicles (PEVs). The open platform will simplify and streamline V2G communications, enabling PEVs to provide grid services and increasing the overall value proposition of plug-in vehicles.

There are more than 3,300 utilities in North America and various global automakers providing plug-in vehicles. Collaboration of this nature is necessary to maximize the potential of vehicle-grid integration.

“This project is an important step in enabling plug-in vehicles to reach their potential as a valuable distributed resource that can increase grid stability, improve power quality and reduce demand peaks,” said Steven Center, vice president of the Environmental Business Development Office at American Honda. “Honda is participating in several projects aimed at accelerating vehicle-to-grid integration, which has the potential to reduce the total cost of owning a plug-in vehicle while enabling higher concentrations of renewable energy.”

Honda has steadily advanced and expanded its knowledge of V2G systems through its participation in several projects. Leveraging IBM’s cloud-based PEV Enablement platform, Honda demonstrated a PEV’s ability to receive and respond to charge instructions based on grid conditions and the vehicle’s battery state. Phase II of the project expanded the use of this network to schedule charge times based on the needs of the driver and preferred rate structures, including the use of renewable energy sources for charging.

In addition, in December 2013, Honda supplied an Accord Plug-In Hybrid with a bi-directional on-board charger to the University of Delaware’s Science, Technology and Advanced Research (STAR) Campus. In conjunction with the university and NRG Energy, Honda will investigate the potential of V2G technology to benefit the grid, vehicle owners and society.

In March 2014, Honda launched Honda Smart Home US at the University of California, Davis, which seeks to investigate the integration of the home with distributed renewable energy, the smart grid and the electric vehicle.

Honda Environmental Leadership
Honda is committed to further advancements in environmental technologies and the effort to improve fuel efficiency and reduce CO2 emissions from its products, including the 2014 Honda Accord Hybrid and Plug-In, the Fit EV, Civic Natural Gas and the FCX Clarity fuel-cell electric vehicle (FCEV). Honda has been recognized as among the top automakers in the Union of Concerned Scientists’ (UCS) rankings of overall vehicle environmental performance since 2000, and a Honda vehicle has been included on the list of America’s greenest vehicles from the American Council for an Energy-Efficient Economy (ACEEE) for the past 16 years.

More Honda Speed Patrol Citations

Honda is still spreading the word about an opportunity you have to share the fastest seat in sports with Mario Andretti. That’s right, you could go for a ride with Mr. Andretti and all you have to do is go to ShopHonda.com.

In an effort to show people how much they need this speed, Honda has stepped up its Speed Patrol efforts, giving people citations for being slow due to “concerned amazement” and “indecisiveness” when choosing a pastry at a coffee shop (and, seriously, who doesn’t get annoyed by that?).

Check out these PSAs and then enter to win the fastest seat in sports!

Honda Honored as National “Highway Safety Hero”

At Honda, we don’t just build some of the most reliable and long-lasting vehicles on the road; we build some of the safest. And that safety doesn’t just mean safety for our drivers and passengers but also pedestrians who walk along side our vehicles. All the innovation has paid off as the Advocates for Highway and Auto Safety presented Honda with its prestigious “Highway Safety Hero” award!

According to this article, “The award recognizes Honda’s commitment to introduce advanced vehicle designs that aim to reduce pedestrian injuries and enhance driver visibility.  Honda was the only automaker, as well as the only corporation, recognized at this event.”

“We are proud to be a part of a company that not only looks after the safety of drivers and passengers, but goes even a step further and tries to protect pedestrians and cyclists from serious injury in the event of a collision,” said Tod McLaughlin, general manager at Apple Valley Honda dealership in Wenatchee. “No one wants to think about colliding with a pedestrian or cyclist, but the fact is is that it does happen. Honda wants to keep everyone on the roads safe, inside their cars and outside.”

We think it’s pretty cool that the AdvoCates for Highway and Auto Safety recognized Honda for it’s advances and dedication to “safety and driver assistive technologies as standard equipment, including features that aim to reduce pedestrian injuries in a collision. Technology such as collapsible hood hinges and breakaway windshield wiper pivots is focused on reducing severe head injuries, which account for 60 percent of pedestrian fatalities.”

Go Honda!

2014 Honda Accord Plug-in Makes it Hard to Empty the Gas Tank

The 2014 Honda Accord comes in several  models, including the 2014 Honda Accord Plug-in which wows owners because of its advanced technology that means you’re stopping for gas far less than any of your neighbors.

In fact, one estimate based on common driving habits has owners only stopping for gas nine times per year!

“If you are a heavy commuter or even someone who just needs a car to get around town, the 2014 Honda Accord Plug-in will save you big time in gasoline costs and the time spent at the pump,” said Keith Hofkamp, general manager at Sims Honda dealership in Burlington. “Everyone wants to save money and time. The 2014 Honda Accord Plug-in lets you do both like no other vehicle on the market.”

Depending on your range and/or performance needs, there are three ways to drive the 2014 Honda Accord Plug-in: electric only, hybrid and fuel-only modes.

According to this article, “For example, even with some long trips added, the test car averaged 54.1 miles per gallon with a mix of all-electric driving plus city/highway on the gasoline engine. In fact, the federal government’s www.fueleconomy.gov website estimated the tester would only need to stop at the gas station about nine times in a year if driven at its current pattern.”

“If your highest priority is the amount of gasoline your vehicle consumes, then you need to come check out the 2014 Honda Accord Plug-in,” said Hofkamp.

Stop by Sims Honda, Northwest Honda or Apple Valley Honda dealership today to take the 2014 Honda Accord Plug-in for a test drive!

Honda CR-V Picked Most Reliable SUV in United Kingdom

We know that the United Kingdom is across the pond (and over the river and through the woods), but we love to brag on our Hondas no matter where they are.

The annual “Which?” survey in the UK named the Honda CR-V 2.2 i-VTech as the most reliable 4×4/SUV for up to three years “with zero reported breakdowns, average annual repair costs of just £10 and an overall reliability score of 98.5% over a twelve month period. Furthermore the CR-V shone through with 0.14 faults reported, compared to 0.88 for the worst performing in its category; and 0.11 days off the road, with the worst performing recording an average 1.09 days.”

Those are pretty impressive results and certainly wouldn’t be much different from a Honda CR-V you can buy from Apple Valley Honda, Northwest Honda, or Sims Honda dealerships.

“Hondas have a reputation for reliability, dependability, and longevity,” said Tony Carter, general manager at Northwest Honda in Bellingham. “This proving especially true with the Honda CR-V. Which is really great because it’s a very popular vehicle with families and no one wants to broken down on the side of the road with their kids in the back seat.”

According to the article, “Adding his comments on the survey, Leon Brannan, Head of Cars for Honda (UK) said, “It’s fantastic to see Honda’s excellent reputation for reliability recognised yet again, particularly from a name as respected and trusted as Which?. It’s also really useful to get feedback from customers living with their Hondas day in, day out, as this gives us insight which we can use to continually maintain our high levels of service.”

Stop by Northwest Honda, Apple Valley Honda, or Sims Honda dealership to take the reliable Honda CR-V for a test drive today!

Honda Honors Suppliers of Indirect Products and Services; Annual Purchases Exceed $1.4 Billion in Ohio and Indiana

Honda has honored 25 suppliers that provide indirect products and services to five Honda automotive plants in Ohio and Indiana. Driven by record auto production in North America in 2013, Honda also announced that its purchasing for Maintenance, Repair and Operational (MRO) services in this region set a record of more than $1.4 billion for the fiscal year ending March 2014.

The MRO purchasing milestone came on the heels of record Honda auto production and parts purchasing in Ohio and Indiana in 2013 with the production of 976,361 automobiles at it three auto plants in Marysville and East Liberty, Ohio, and Greensburg, Ind. MRO purchasing also supports operations of Honda’s engine plant in Anna, Ohio and transmission plant in Russells Point, Ohio.

Different from suppliers that provide parts and materials for the mass production of Honda products, the more than 5,000 MRO suppliers support Honda plants by providing a wide variety of equipment, products and services that support the manufacturing of automobiles, as well as their engines and transmissions. These companies include local businesses as well as national companies, and many have grown along with the expansion of Honda’s automobile manufacturing in North America since Honda began U.S. auto production at the Marysville Auto Plant in 1982.

“With a host of pinnacle products coming to market next year, and with record production and sales targeted in the coming years, Honda will continue to transform its business by advancing technology in our products and manufacturing operations to maximize joy for the customer,” said Tom Lake, vice president for Purchasing and Cost Planning at Honda North America, Inc. “We thank our suppliers for the important role they continue to play in our success by bringing new ideas and value to our business.”

In 2013, Honda manufactured a record 1.78 million automobiles in North America, which led to the purchase of more than $25.5 billion in parts and materials in the region from 650 parts suppliers, also an all-time annual record. Parts purchasing for Honda plants in Indiana and Ohio last year totaled $12.2 billion from suppliers in North America, including more than 200 in Ohio and Indiana.

More than 260 MRO suppliers for Honda plants in Ohio and Indiana attended the annual conference in Columbus for the awards ceremony, networking and professional breakout sessions. Developed to recognize world-class business characteristics, the 25 suppliers were honored for achievements in the categories of Special Recognition, Outstanding Value, Performance Excellence and Supplier of the year.

“The purpose of the awards is to recognize suppliers that are bringing us value and helping Honda to advance our capabilities and deliver a better vehicle to our customers,” said Monica Oliverio, department manager of North American Indirect Procurement at Honda North America, Inc. “We want our suppliers to truly grow with us as we continue to expand and advance our operations in North America.”

Bill Easdale, vice president of Honda of America Mfg., Inc. added that the involvement of both indirect and parts suppliers is important as Honda’s North American operations take on new responsibilities to engineer and manufacture products for customers in this region and globally.

“In order to meet the responsibility of the lead role we have been asked to play in North America and to prepare for the next phase in our growth and evolution, we continue to invest in our business and our people,” Easdale said. “We have a long-term commitment to Ohio and to all of our operations in North America, and this should give our suppliers the confidence to grow with us and to innovate with us, by bringing their best new ideas to Honda.”

About Honda in Ohio and Indiana

Honda of America Mfg., Inc. employs 10,000 Ohioans at the Marysville Auto Plant, East Liberty Auto Plant and Anna Engine Plant, along with operations that support its manufacturing.

With capacity to produce 440,000 automobiles per year, the Marysville plant currently is producing the Accord Sedan, Coupe and Hybrid models, and the all-new Acura TLX Sedan. The East Liberty plant produces the Honda CR-V and Crosstour, and the Acura RDX, with capacity to manufacture 240,000 automobiles per year.

Honda’s engine plant in Anna, Ohio has capacity to produce more than 1 million V-6 and four-cylinder engines per year, primarily for Honda’s auto plants in Ohio, Indiana and Canada. In addition to production of these engines along with high-precision steel engine components, the Anna plant also manufactures sophisticated pulley components for Honda’s continuously variable transmissions (CVTs).

Located in Russells Point, Ohio, Honda Transmission Mfg. of America, Inc. employs 1,125 associates and has capacity to produce more than 1 million automatic transmissions and CVTs per year. The plant also manufactures gear sets, four-wheel-drive systems and four-wheel-drive transfer components.

Honda Manufacturing of Indiana LLC employs 2,300 associates and has capacity to produce 250,000 vehicles per year. This plant currently manufactures the Civic Sedan, Civic Natural Gas and Civic Hybrid, along with the Acura ILX Sedan and Hybrid models.

About Honda in North America

Honda established operations in America in 1959, and now employs more than 39,000 associates in its North American sales, R&D and manufacturing operations with a capital investment of more than $16.3 billion.

Based on its longstanding commitment to “build products close to the customer” Honda operates 16 major manufacturing facilities in North America, producing a wide range of Honda and Acura automobiles, automobile engines and transmissions, Honda all-terrain vehicles, power equipment products such as lawn mowers, mini-tillers and general purpose engines, and the HondaJet light jet, using domestic and globally sourced parts.

Eight Honda auto plants in the region, including four in the U.S., have the capacity to produce 1.92 million automobiles each year.  In 2013, 94 percent of the Honda and Acura automobiles sold in the U.S. were produced in North America. Those plants today manufacture 11 different models, including four passenger cars and seven light trucks.

A fifth U.S. auto plant, the Performance Manufacturing Center, is under construction in Marysville, Ohio, and next year will become the exclusive global production location for the next generation Acura NSX.

Honda operates major research and development centers in the U.S. that fully design, develop and engineer many of the products Honda produces in North America.

Newest Version of ASIMO to Join the HondaJet at EAA AirVenture

Coming off its highly successful North American debut in April, the newest version of Honda’s humanoid robot, ASIMO, will make its second U.S. appearance with daily demonstrations at EAA AirVenture Oshkosh 2014, July 28-August 3.

Honda will showcase two examples of its innovative technology and engineering prowess at AirVenture, as ASIMO joins the first production HondaJet at the seven-day aircraft festival held in Oshkosh, Wisconsin.

ASIMO will entertain crowds in the HondaJet display area, making three appearances during each day of the event. Demonstrations will take place in the Honda Aircraft Company tent at 10 a.m., 11:30 a.m. and 1:30 p.m.

ASIMO, which stands for Advanced Step in Innovative Mobility, was first introduced 14 years ago. Since then, Honda engineers have continued making significant advances, including physical improvements in the lower body to enhance stability and balance control, allowing the robot to climb more smoothly, run faster and change directions in a more-controlled fashion.

Enhancements in the upper body include major increases in the degrees of freedom available in the robot’s hands. Each hand now contains 13 degrees of freedom, which allows ASIMO to perform many more intricate and precise tasks.

“This is an exciting project for Honda,” said Satoshi Shigemi, senior chief engineer of Honda R&D Co., Ltd., and the leader of Honda’s humanoid robotics program. “Our engineers are working tirelessly to develop new technologies aimed at helping ASIMO work in a real world environment.”

The innovative HondaJet will again make an appearance at the Experimental Aircraft Association’s biggest event. Honda Aircraft Company is holding a special event on Monday, July 28 at 9:30 a.m. to commemorate the first production aircraft’s public debut. EAA AirVenture Oshkosh attracts more than 10,000 aircraft and 300,000 visitors each year.

Follow ASIMO on Twitter at www.twitter.com/ASIMO and at www.facebook.com/asimo

Will Honda Fit Outsell the Civic?

The people at Torque.com believe that the 2015 Honda Fit will play a big roll in the Fit eventually outselling America’s sweetheart, the Honda Civic.

Apparently, the writers got some major blowback from Honda Civic fans who wouldn’t dream of the Civic falling to any vehicle, including the Honda Fit. But Torque.com has published a response HERE about why it believes the Honda Fit is the vehicle for Generation Y-ers…and we kind of agree.

Basically, they argue that the once really inexpensive, young Civic has now matured into a more expensive, bigger, family ride whereas the Honda Fit is a cool, young design specifically for this young generation.

We think it makes sense. Vehicles, even after many redesigns, eventually age or are seen as “older” person vehicles. The Honda Civic has been an American favorite for a long time…a long time. Perhaps is time for Honda to a new vehicle for young buyers that isn’t the Honda Civic.

What do you think? Will the Honda Fit become the car of choice for young Honda buyers?

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