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BUSINESS
July 28, 2006
Honda Motor Co. exported its first Acura models from the United States to China as part of an expansion of its U.S.-based luxury brand to Asia.
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AUTOS
April 11, 2013 | By Jerry Hirsch
A faulty airbag part that can explode and send shrapnel into the passenger cabin is responsible for the global recall of more than 3 million cars manufactured by Honda, Nissan, Toyota and General Motors and will likely lead to more recalls. The problem was reported to Japanese safety regulators late Wednesday night, but since the part manufactured by Takata Corp. is used internationally, it probably affects more automakers. “Takata supplies a lot of U.S. manufacturers too,” said Michelle Krebs, an analyst with auto information company Edmunds.com.
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BUSINESS
April 22, 2009 | Times Wire Reports
Toyota Motor Corp. has cut the base price of its Prius hybrid by $1,000 to help beat back competition from Honda Motor Co.'s gasoline-electric Insight. Honda started selling the new Insight on March 24 with a sticker price starting at $19,800, less than the $22,000 for the current base-model Prius. Toyota will offer a 2010 Prius for $21,000 later this year.
BUSINESS
January 28, 2005 | John O'Dell, Times Staff Writer
Honda Motor Co.'s U.S. finance arm and three major U.S. banks have agreed to settle class-action lawsuits filed by black customers who accused them of racial bias in automobile lending practices. The suits alleged that the companies' policies allowed car dealers to charge thousands of black customers more interest on auto loans than was charged to whites with similar financial histories. The interest was in the form of a dealer-added "markup" to the basic interest rate.
BUSINESS
September 14, 2005 | From Bloomberg News
Honda Motor Co., the third-largest Japanese automaker, has decided not to build an eight-cylinder engine because high fuel prices are pushing buyers to more efficient motors. The company will focus instead on expanding diesel and gasoline-electric engine output. "It's not the time to make a V-8," Honda Chief Executive Takeo Fukui said at the Frankfurt International Motor Show in Germany. "We need to focus on diesels and hybrids first."
BUSINESS
March 5, 1992 | From Times Staff and Wire Reports
Honda to Recall Cars: Honda Motor Co. of Japan will recall 175,964 passenger cars because of a defective drive shaft in the engine. The defect may cause loosening of a belt and thus prevent the battery from recharging. The cars include 159,533 Accords and Ascots produced by Honda Motor Co. between Sept. 13, 1989, and Feb. 20, 1991. About 97,500 of the cars were exported to 117 nations.
BUSINESS
May 11, 1990
Honda Motor Co. announced a major reshuffling of top executive posts, naming senior managing director Nobuhiko Kawamoto, 54, to take over as president and chief executive on June 28. Kawamoto, senior managing and representative director of Honda, will succeed 58-year-old Tadashi Kume, who will assume the post of director and adviser. Honda also said Shoichiro Irimajiri and Yoshihide Munekuni, also both senior directors of Honda in Japan, were named executive vice presidents.
BUSINESS
April 23, 2003 | From Bloomberg News
More than 535,000 cars made by Honda Motor Co., General Motors Corp. and Kia Motors Corp. are being examined by the National Highway Traffic Safety Administration for defects. The reviews include 277,000 Honda Accord sedans from 1998 and 1999, and Honda CR-V sport utility vehicles from 2002, which may roll after being shifted into park. About 190,000 Saturn L series sedans from 2001 and 2002 are being examined for faulty headlights.
BUSINESS
February 3, 2009 | Associated Press
Honda Motor Co. said Monday that managers' salaries would be slashed 5% starting next month to cope with sliding sales. The cut comes on top of the 10% pay reduction for directors announced last month. The move affects about 4,800 managers at Honda group companies in Japan, but not those hired by Honda's overseas units, the company said. The reduction continues through May, and what happens after that is still undecided, it said. Japan's No.
BUSINESS
July 19, 2007 | Don Lee, Times Staff Writer
The action is revving up in the world's hottest car market. Honda Motor Co. said Wednesday that it planned to create a new brand by 2010 with its Chinese partner. It would be the first time that a foreign carmaker has launched an original brand for sale in China. Separately, Volkswagen and its auto venture in Shanghai said they would jointly develop a new car targeting the North American and Chinese market.
BUSINESS
May 19, 2007 | John O'Dell, Times Staff Writer
A lot of adjectives can be used to describe the cars and trucks that Honda Motor Co. sells in the U.S., but "sleek," "beautiful" and "head-turning" usually aren't on the list. The automaker's U.S. design shop -- whose own chief designer, Dave Marek, volunteers "conservative" as an acceptable modifier for Honda design -- wants to change things. So do Honda's top executives at U.S. headquarters in Torrance and the company's home base in Japan, Marek said.
BUSINESS
March 24, 2007 | From Bloomberg News
Honda Motor Co. will spend at least $8 million to boost capacity by two-thirds at a Mexican assembly plant and switch all of its production to CR-V sport utility vehicles to meet rising North American sales. Honda will build 50,000 CR-Vs a year at El Salto, near Guadalajara, where it now makes Accord sedans at a rate of 30,000 a year. About half the CR-Vs built at El Salto will be sold in Mexico, and the rest will be shipped to the U.S. and a variety of Latin American markets.
BUSINESS
February 10, 2007 | From Bloomberg News
Honda Motor Co., expanding into aviation from automobiles, motorcycles and engines, said Friday that it would spend $60 million for a North Carolina headquarters and factory for its new aircraft unit. Honda Aircraft Co. will begin producing small planes for delivery by 2010 and employ at least 300 people, spokesman Jeffrey Smith told reporters in Greensboro, N.C. Honda's entry into aircraft manufacturing sets up a competition with Textron Inc.'s Cessna Aircraft unit in Wichita, Kan.
BUSINESS
October 26, 2006 | From the Associated Press
Honda Motor Co. reported Wednesday that fiscal second-quarter profit slipped 4.3% but that sales were strong especially in North America and Asia, where demand for fuelefficient cars has been growing. Honda, Japan's No. 3 automaker, posted a group profit of 127.9 billion yen ($1.1 billion) for the July-to-September period, down from 133.7 billion yen a year earlier. Quarterly sales jumped 12.5% to 2.6 trillion yen ($21.
BUSINESS
February 22, 1997 | Times Staff and Wire Reports
Honda Motor Co. said its fiscal third-quarter profit climbed 237% to a record $503 million, more than it had expected. The Japanese auto maker cited a weak yen and strong sales of recreational vehicles, which account for about half of its sales in Japan, for the results in the October-December period. Revenue jumped 31% to $11.49 million.
BUSINESS
October 24, 2006 | From Bloomberg News
Honda Motor Co. will boost North American annual production capacity for Civic small cars by as many as 60,000 by rearranging assembly-plant operations, after running short of the model in the U.S. The increase will be achieved by building Civics at a second Alliston, Canada, plant starting in April, Honda said. The annual rate will rise about 16%. To free up the capacity, Honda plans in February to begin shifting output of Pilot sport utility vehicles from the Canadian factory to Lincoln, Ala.
BUSINESS
August 28, 2006 | John O'Dell, Times Staff Writer
John Mendel was chief operating officer at Mazda North America three years ago when he heard that American Honda was promising an industry-leading package of safety equipment on its mainstream models by 2006. Mendel vividly recalls going to his boss at the time and saying, "The oven just got hotter." Now it is Mendel stoking the safety fires as senior vice president of Honda Motor Co.'s Torrance-based U.S. automotive operations.
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