Honda Plans $500 Million Car Plant in Mexico, Financiero Says

Honda Motor Co., Japan’s third- largest automaker, plans to invest at least $500 million to build a car factory in Mexico, El Financiero newspaper reported.

The plant will likely be located in Salamanca, a city in the central state of Guanajuato, and construction would begin next year, El Financiero reported, citing Mexican Economy Ministry officials it didn’t identify by name.

Honda’s press office in Mexico City declined to comment on the report by El Financiero. Nikkei newspaper in Japan said earlier this week that Honda will build an auto plant in Mexico that produces the Fit compact car and will begin operation in 2014.

Honda has a plant in Mexico’s southwestern state of Jalisco, according to its website.

Source;
http://www.bloomberg.com/news/2011-08-02/honda-plans-500-million-car-plant-in-mexico-financiero-says.html

Ten Honda Manufacturing Facilities in North America Achieve Zero Waste Sent to Landfill

Honda Motor Co. said 10 of its North American plants now send no waste to landfills and four others in the region cut scrap and trash to “virtually” nothing as the carmaker seeks to curb manufacturing-related pollution.

Honda, which claimed in 2001 that its Alabama auto-assembly plant was first in the U.S. to send no trash to landfills, aims to lead the industry in waste reduction, Ed Miller, a spokesman for the Tokyo-based carmaker, said in a telephone interview. The company isn’t aware of a competitor that’s achieved a higher level, he said.

“We now have 10 of 14 facilities that are absolute zero, and for the four that still have some there are extenuating circumstances,” said Miller, who is based in Detroit.

Those include a lack of recycling options for cafeteria waste at Honda’s Mexican motorcycle and auto plant, and a byproduct material from painting aluminum hoods at its Ohio auto plants that can’t be recycled under U.S. rules, Miller said.

Honda, Japan’s third-largest automaker, in 2010 built more than 80 percent of cars and light trucks it sold in the U.S. at North American plants, the highest proportion among Asian and European-based companies. Honda’s U.S. headquarters are in Torrance, California.

Source;
http://www.bloomberg.com/news/2011-07-14/honda-cuts-waste-at-10-north-american-plants-to-absolute-zero.html

WSJ: Honda To Resume Full North American Auto Production In August

By Mike Ramsey
Of THE WALL STREET JOURNAL

DAYTON, Ohio (Dow Jones)--Honda Motor Co. (HMC, 7267.TO) will return its North American auto production to normal levels for all but one vehicle in August, faster than the company expected, the company said in a statement Thursday.

Honda has been running its plants at around 50% of their normal volume since April because of limited supplies of critical parts. Honda, Toyota Motor Corp. (TM, 7203.TO) and Nissan Motor Co. (NSANY, 7201.TO) have all limited their production this year because of the massive March 11 earthquake that damaged dozens of parts suppliers, particularly electronics makers.

Unfortunately for Honda, the lone car built in North America that won't return to full production in August is the redesigned Civic. Production of the vehicle will remain at 50% of projected volume because of limited supplies of parts and return to normal sometime in the fall, the company said. The Civic is one of Honda's best-selling models and the redesigned model was expected to help drive sales this year, reversing a market-share decline.

"The light at the end of the tunnel is glowing brighter for us, represented by this significant improvement in our production situation," said John Mendel, executive vice president of American Honda Motor Co., in the statement.

Honda, with more production in North America than Toyota or Nissan, has been the slowest to return its plants to higher volume. Nissan's U.S. production missed only a few days and Toyota is ramping back up most of its plants in North America next month.

Low inventories of key vehicles, combined with few incentives from Honda and maybe the perception that cars aren't available, are expected to drag down Honda's sales results in May. TrueCar.com, a consumer research and vehicle pricing website, predicts Honda's May sales will decline 26%, the most of any major manufacturer.

Honda's Mendel last week sent a letter to dealers to encourage then to push for sales harder and to say that supplies wouldn't run out because sales results were disappointing at that point in the month.

Source;
http://online.wsj.com/article/BT-CO-20110526-707691.html

Honda Gives Assurances to U.S. Dealers

By MIKE RAMSEY
DETROIT—Honda Motor Co. told its U.S. dealers Friday that July vehicle deliveries would increase by 11% from June levels and accelerate in August as the auto maker ramps up production after the March 11 earthquake in Japan.

American Honda Executive Vice President John Mendel said in a memo that its sales continued to "run at a relatively soft pace" despite what the company considers decent inventory levels, albeit lower than year-earlier levels.

"Many of you have indicated that it is due in large part to concerns for inventory going forward," Mr. Mendel said.

Honda follows Nissan Motor Co. in efforts to encourage its dealers to continue driving deals to gain customers despite a murky outlook for vehicle inventories this summer. Both auto makers and Toyota Motor Corp. had to stop production in Japan for several weeks following the earthquake, and all continue to face shortages of electronic components, LCD screens and rubber.

U.S. sales for Honda rose 10% last month compared to 18% for the overall industry.

"It's interesting to note that although our total inventory is down versus May 2010, we have more CR-Vs, Pilots and Fits in dealer inventory now than we did a year ago," Mr. Mendel said.

"With this level of inventory, coupled with competitive incentives focused on vehicles with sufficient availability, you all need to continue to push hard on the sales front."

Last week, Nissan asked dealers to be more aggressive and go after Toyota and Honda, which it deemed vulnerable.

Source;
http://online.wsj.com/article/SB10001424052748704816604576335061787279604.html?mod=googlenews_wsj

Honda says parts supply recovery picking up speed

May 17 (Reuters) - Honda Motor is seeing a speeding up in the recovery of parts supplies, which will be key to bringing forward its timing for a return to normal production after a March earthquake and tsunami in northeastern Japan disrupted supply chains, the automaker's chief financial officer said on Tuesday.

Honda Chief Financial Officer Fumihiko Ike also told a small group of reporters that the company plans to announce its earnings forecast for the current fiscal year before its shareholders' meeting, which is scheduled for June 23. (Reporting by Kentaro Sugiyama; Writing by Junko Fujita; Editing by Edmund Klamann)

Source;
http://www.reuters.com/article/2011/05/17/honda-production-idUST9E7GA01I20110517

Honda Says It Isn’t Planning U.S. Asset-Backed Security Sale

March 6 (Bloomberg) -- Honda Motor Co. said it doesn’t plan to issue new securities backed by auto loans after a Japanese news agency reported that the carmaker’s U.S. credit arm seeks to raise about $1 billion every few months from such sales.

Japan’s Nikkei English News said today that Honda’s American Honda Finance Corp. would regularly issue 100 billion yen ($1.02 billion) of asset-backed bonds, citing no sources. Nissan Motor Co.’s U.S. finance arm plans to raise a similar amount with ABS issues, Nikkei said.

“We aren’t currently issuing asset-backed securities,” said Marcos Frommer, a spokesman for Honda’s U.S. unit in Torrance, California. Economic conditions don’t favor such sales, he said.
Fred Standish, a spokesman for Nissan’s U.S. unit, said the company doesn’t discuss future financing options such as ABS sales. Nissan raised $475 million from an ABS sale in December, he said.

Honda and Nissan are both based in Tokyo.

Source;
http://www.bloomberg.com/apps/news?pid=20601101&sid=ap5LWT7nHhZE&refer=japan#

Honda robot spices up Insight launch in Europe

By Chang-Ran Kim, Asia autos correspondent

GENEVA (Reuters Life!) - Don't tell the boss, but Honda Motor Co may have managed to successfully replace its chief executive with a humanoid robot.

At least, that is, to show off the latest addition to Honda's car line-up at the Geneva auto show on Tuesday.

Like virtually all other carmakers, Honda is looking to save cash anywhere it can as plummeting vehicle sales hammer profits.

So instead of calling a press conference with the top brass attending, which is common practice at international motor shows, Japan's No.2 automaker employed its four-feet-tall robot Asimo to introduce the Insight hybrid, which will go on sale in Europe this month.

"I'm really interested in hybrid technology," the bubble-headed robot said in a boyish voice after being introduced by a Honda spokesman at the company's booth at the show.

Asimo, who normally resides in a studio in Brussels, is scheduled to do several shows a day when the Geneva auto show opens to the public later this week.

"It was cheaper than flying the CEO over from Tokyo for the show," said Shigeki Endo, a spokesman for Honda.

Another spokesman said both the Insight hybrid car and Asimo were "the result of the dream and hard work" of engineers at Honda, which is looking to make a business out of selling humanoid robots one day to assist the elderly or do simple work around the office, such as distributing mail.

During a 20-minute presentation for journalists Asimo fetched two green teas and stood diligently by the Insight on the stage as the spokesman chatted with an engineer about the merits of Honda's first low-cost hybrid car.

After some specifications were rattled off including the car's top speed of 189 km (117 miles) per hour, Asimo waved both hands in a plea for attention.

"I also run on batteries, and my top speed is impressive too," he said.

When Asimo was invited to perform, the robot walked to the front of the stage, loosened up his knees and ankles and dashed across the stage at 6 km/hour -- a record for his kind.

Source;
http://www.reuters.com/article/GCA-autos/idUSTRE5227QH20090303

Rescued Honda team to be called 'Brackley F1'

With a blank livery and Jenson Button at the wheel, the team currently known as Honda will return to action at a Silverstone shakedown of its 2009 car next Thursday, sources from inside the Brackley factory are reporting. With the Ross Brawn-led management buyout now approved - but not officially announced - by Honda Motor Co.'s Tokyo board, information is leaking from the outfit that had until recently looked likely to be wound up ahead of the 2009 season. Now, however, suggestions of at least one - and possibly two - full tests at Spanish circuits in March are gaining credence, and one source told us that these will be preceded by a run-out with Mercedes power at Silverstone late next week. With the Honda board also insisting upon a name change, the frontrunner at present is 'Brackley F1', but a final decision on this has not been taken.

Also likely - but not confirmed - is the identity of Button's team-mate. Bruno Senna has all winter been named as the frontrunner, but given the nature of the challenge faced for 2009, it is believed the veteran Rubens Barrichello is now favourite to retain his seat. Under Brawn's leadership, the funds for the team this year will come from increased and advanced FOM income, commercial sponsors, and Honda itself, who have concluded that it is cheaper to offload the squad as a going concern rather than fund the closure and compensate contracted staff, including the very highly paid Button. The Swiss newspaper Blick said of rookie hopeful Senna: "The young Brazilian will drive in the DTM championship (in 2009)."

Source;
http://en.f1-live.com/f1/en/headlines/news/detail/090227084040.shtml

Other News via Autoblog;
Some reports claim that the team will be called Brawn Sport, while others say it will be called Brackley F1 – Brackley being the site of the team's UK headquarters. Whatever it's called, the team has been funded by an advance on its Formula 1 television rights money, and Honda. The carmaker decided it would be better and cheaper to give the new team money than to close up shop and pay several hundred severance packages.

Source;
http://www.autoblog.com/2009/03/02/report-honda-f1-team-to-be-taken-over-by-brawn-sport/