Honda Motor Co. exceeded market expectations and in fact, it has lifted its annual guidance after cost cuts pushed quarterly profit to the strongest in the past year and a half. Honda said it predicts further growth in the next fiscal year.

Honda, Japan’s No. 2 carmaker, has endured the financial crisis better than many of its competitors. Honda’s profitable and dominant motorcycle business cushioned the blow to global car demand from the financial crisis. Also, due to the government incentives, Honda’s lineup, which boasts fuel-efficient models such as the Civic and Jazz, has also turned up over the past three quarters. A top Honda executive said that with car sales on track to reach 3.6 million vehicles next business year, Honda is expected to make an operating profit of about $1.1 billion per quarter. In a news conference, Executive Vice President Koichi Kondo said that with these conditions, he sees “a fundamental ability to make 100 billion yen in operating profit every quarter.” Kondo added that this indicates a full-year operating profit of 400 billion yen ($4.39 billion) for the year to March 2011 — up 25% from Honda’s revised guidance of 320 billion yen for this year.

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Tags:car news, Honda, honda market expectations, honda sales
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Unlike its major competitors, Honda has decided not to exploit Toyota’s customers who are in a quandary right now in light of the massive recall. Recently, General Motors and Ford have announced that they were offering incentives for Toyota owners to trade in their vehicles.

Honda chose to abstain from these sales tactics because it “will not react in a predatory way towards either Toyota or Toyota customers,” according to a letter issued to Honda and Acura dealers last week. John Mendel, executive vice president of American Honda, also asked its dealers to avoid commenting on the matter. Continued after the jump!

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Tags:car news, Honda, honda toyota recall, toyota recall
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You’re not alone in your intense curiosity about the next-generation Honda Odyssey. Just head on down to the 2010 Chicago Auto Show where we’re sure to attend as well. One of the most anticipated is Honda’s conceptual form of its next minivan that will be unveiled February 10 during press days.

The Odyssey, currently in its third generation, has been a mainstay on American roads since it debuted in 1995. Of course, only the concept will be displayed at the Chicago show but it’s possible that it will be a close version to the production van that could reach dealers as early as 2011. It’s likely that the next Odyssey will be similar to what happened with the third-generation van and that it will be completely different from the model sold in the Japan. It is believed that unlike the Japanese Odyssey (a low-slung, four-door tall-wagon), the North American version will resemble a conventional minivan. Further details about the new Odyssey have yet to be revealed.

Tags:2010 chicago auto show, car news, chicago motor show, Honda, honda odyssey chicago auto show, honda odyssey concept
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Terukazu Torikai, Honda CR-Z’s chief chassis engineer, talked about the basic concept of the CR-Z in a short video recently released on You Tube. According to him, the new hybrid sports car has been inspired by the Lotus Elise.

He also said that the CR-Z is intended to create a fun-to-drive sports car that has some of the characteristics of the Elise, the Mini and Volkswagen Scirocco. Torikai also said that Honda is confident that it succeeded in giving the car the agile handling of the Mini and easy-to-drive performance for daily use. Continued after the jump!

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Tags:car news, cr-z design, Honda, honda cr-z lotus elise design
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Honda Motor Co.’s R&D staff is being challenged by CEO Takanobu Ito to develop a hybrid that exceeds the fuel economy of the Toyota Prius. The result won’t necessarily be the next-generation version of Honda’s Insight hybrid but perhaps be used in another vehicle in the Honda lineup.

In an interview at the Detroit Auto Show, Ito said that he wants to “develop and expand” its hybrids and that “major sacrifices” were made on shifting people and resources to do so. Honda is prepared to expand its small-vehicle hybrid system to other platforms, but Ito said Honda’s large-vehicle hybrid platform is not ready. As Honda pressures its staff, Toyota is definitely not idle. It unveiled the FT-CH concept, a hybrid hatchback 6 inches shorter than the Prius. It is unconfirmed if the vehicle will reach production. Honda executives were dissatisfied with sales of the Insight since it was launched in the US last March. Although the Insight is cheaper than the Prius by $2,500, the Prius outsold the Insight 139,682 to 20,572 in 2009.

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Tags:car news, Honda, honda better prius, honda prius
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Honda has finally released the spec details of its new racing car dubbed HSV 010 GT(HSV= Honda Sports Velocity).

Based on the axed NSX, the new car carries a 90-degree 3.4-liter V8 engine capable to deliver over 600 hp and rev-limited to 10,300 rpm (the Super GT version the engine will be reworked for a more endurance spec and will deliver “only” 500 hp). The HSV-010 GT is 4675mm long and 2000mm wide, while its wheelbase is 2700mm. The minimum weight of the car will be 1100 kg. More photos and full specs after the jump!

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Tags:car news, Honda, honda hsv-010 gt specs, hsv-010 gt specs
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Honda Access Corporation a.k.a. the manufacturer of genuine Honda aftermarket parts and accessories, announced today the Modulo Concept vehicles which will be unveiled at the Tokyo Auto Salon 2010.

Based on the Honda Insight, the Sports Modulo Concept comes with a new front grille as well as a completely new front bumper, side sills, strange rear roof spoiler and a new rear bumper. The kit is completed by the weird multi-spoke wheels. Also, the Japanese manufacturer will bring to the same Tokyo Auto Salon highly customized Freed and Life styling study models (see them in the photo gallery). Photo gallery after the jump!

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Tags:2010 tokyo auto salon, car news, Honda, honda concepts tokyo auto salon, honda insight sports modulo concept, insight sports modulo concept, Tokyo Auto Salon
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Before hitting US stores this summer, the 2011 Honda CR-Z Sport Hybrid Coupe made an appearance at the 2010 North American International Auto Show.

Powering the hybrid is a 1.5-liter i-VTEC engine with Honda’s compact and lightweight Integrated Motor Assist (IMA) hybrid-electric system.

This engine has a maximum power of 122 horsepower at 6,000 rpm and 128 lb-ft of torque between 1,000 and 1,500 rpm. If the car comes equipped with a CVT, these figures are slightly lower with 123 lb-ft of torque. Continued after the jump!

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Tags:2010 naias, 2011 cr-z, 2011 honda cr-z, car news, Detroit Auto Show, detroit auto show 2010, Honda
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This is the production version of the Honda CR-Z Coupe Concept, a brand new hybrid coupe unveiled today at the Detroit Auto Show by the Japanese manufacturer. According to the manufacturer the CR-Z is the world’s first hybrid sports car, powered by the Integrated Motor Assist (IMA) system, borrowed from the Insight. Under the hood we find a 1.5-litre engine delivering 102 hp and an electric motor capable to deliver 20 hp. This means that the car has a total output of 122 hp and 128 lb-ft. of torque at 1,000 to 1,500 rpm (123 lb-ft on CVT-equipped models). Also, we the car emits just 117g/km of CO2, and returns 56.4mpg. the CR-Z uses a shortened version of the Insight’s platform, but the track has been widened and its wheelbase has shrunk by 115mm. Press release and photo gallery after the jump!

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Tags:2010 detroit auto show, 2010 naias, 2011 honda cr-z, 2011 honda cr-z sports hybrid coupe, car news, Detroit Auto Show, Honda
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December monthly sales of the North American division of Honda amounted to 107,143 units, an increase of 15.6% on a daily selling rate basis. Meanwhile, American Honda’s 2009 annual vehicle sales totaled 1,150,784 units, a decline of 19.5% compared to the 2008 results.

John Mendel, executive vice president of American Honda, said that things appear to be looking up as the market is apparently stabilizing. Mendel said that there are more reasons for optimism in 2010. Compared to the previous year, Honda Division’s December monthly sales increased by 18.9%, with 96,568 units sold. Meanwhile, Honda Division’s 2009 annual sales of 1,045,061 dropped by 18.6% compared to 2008. The best selling three Honda models for 2009 were the Accord, with 290,056 units, the Civic with 259,722 units and the CRV with 191,214 units.

Tags:car news, Honda, honda sales, honda us sales
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