Showing posts with label Tourer. Show all posts
Showing posts with label Tourer. Show all posts
Monday, August 24, 2015
Honda sees profits tumble by a third amongst a barrage of recalls in the last year.
Tepid sales and a barrage of recall costs hammered profits at Honda Motor Co. in the latest quarter, forcing the carmaker to miss its main targets for full-year earnings and unit sales.
Operating profit tumbled 32 percent to 111.94 billion yen ($935.7 million) in the January-March fiscal fourth quarter, from 165.29 billion yen ($1.38 billion) a year earlier.
Net income also fell, dropping 43 percent to 97.84 billion yen ($817.9 million), from 170.51 billion yen ($1.43 billion) the year before. Revenue advanced 8.3 percent to 3.35 trillion yen ($28.00 billion) in the quarter, while global sales inched ahead just 0.8 percent to 1.204 million vehicles, driven by North America and mainland Asia.
Earnings were hit by the lackluster sales volume and hefty costs for recalls as well as the ramp up of the HR-V crossover at Honda’s new factory in Mexico, Executive Vice President Tetsuo Iwamura said today while announcing the results at Honda’s global headquarters.
Iwamura did not break out the recall amount. But the costs, which cover Honda’s global call back of faulty airbags, were included as quality-related costs in 49.6 billion yen ($414.6 million) of selling, general and administrative expenses.
The potentially explosive airbags have been linked to five deaths in the U.S. and one in Malaysia. Worldwide, Honda has recalled some 14.4 million vehicles equipped with suspect airbag inflators made by Japanese supplier Takata Corp., more than any other automaker.
About 9.87 million of those recalls came in the United States.
Global sales were also dented last year when Honda delayed the launches of several new vehicles to double check quality, after its redesigned Fit Hybrid small car was recalled five times in one year to fix various drivetrain and computer control glitches.
In the Japanese home market, Honda’s sales plunged 22 percent to 221,000 vehicles in the quarter, as consumers stayed home after an increase in the nationwide sales tax. Sales in Europe slid 5.9 percent to 48,000 units. Volume in Asia rose 15 percent to 464,000 vehicles. That eclipsed the 397,000 sold in North America, which notched a 2.8 percent sales gain over the previous year.
North America, long Honda’s cash cow, slid to be being Honda’s third biggest profit engine in the fourth quarter, behind Asia and Japan. Regional operating income declined 72 percent to 11.6 billion yen ($97.0 million), hurt mainly by the Takata airbag recall costs.
Asia’s regional operating profit, meanwhile, surged 31 percent to 70.7 billion yen ($591.0 million) in the quarter.
Honda's European operations swung to an operating loss of 5.7 billion yen ($47.6 million) in the quarter, from an operating profit of 14.9 billion yen ($124.6 million) a year earlier. Honda said Europe was hit by falling sales and unfavorable foreign exchange rates, as well as a weakening model mix toward lower-margin vehicles.
Full-year retreat
For the full fiscal year ended March 31, overall operating profit slid 13 percent to 651.68 billion yen ($5.45 billion), from 750.28 billion yen ($6.27 billion) a year earlier.
Honda had predicted operating profit of 720.0 billion yen ($6.02 billion) as recently as January.
Annual net income declined 8.9 percent to 522.76 billion yen ($4.37 billion). That result was also lower than Honda’s earlier forecast for net income of 545.0 billion yen ($4.56 billion), an outlook that was twice revised downward last year as Honda’s sales sputtered and recall costs mounted.
Meanwhile, worldwide revenue rose 6.8 percent to 12.65 trillion yen ($105.74 billion), on a 0.9 percent increase in global sales to 4.364 million vehicles. Honda twice cut its sales initial forecast of 4.83 million vehicles. It lowered it to 4.62 million in October and bumped it down to 4.45 million in January. Its final full-year tally missed that target as well.
For the fiscal year, operating profit in North America fell 31 percent to 200.2 billion yen ($1.67 billion), making it the No. 2 profit center behind Asia. Regional operating profit in Asia, which includes China, India and Thailand, rose 28 percent to 277.9 billion yen ($2.32 billion). Europe's operating loss widened to 18.8 billion yen ($157.2 million), from 17.1 billion yen ($142.9 million) the year before.
Of the three big Japanese carmakers reporting so far this earnings season, Honda was alone in not achieving record profits. Mazda Motor Corp. and Mitsubishi Motors Corp., which reported last week, each notched record net and operating profits, on rising sales and foreign exchange gains.
But Mazda and Mitsubishi both expect profits to retreat in the current fiscal year ending March 31, 2016. In contrast, Honda predicts an increase sales and profits, but just barely.
Looking ahead, the carmaker expects sales to increase 6.7 percent to 4.655 million vehicles worldwide in the year to March 31, 2016. That is up from the 4.364 million it sold last fiscal year.
While delivering its earnings results, Honda announced it is switching to international financial reporting standards, or IFRS, from U.S. GAAP accounting standards.
Based on GAAP, Honda forecasts operating income to increase 1.3 percent to 660.0 billion yen ($5.52 billion) in the current fiscal year. Under IFRS, net is expected to advance 5.1 percent to 685.0 billion yen ($5.73 billion). Net income is expected to increase just 0.4 percent to 525.0 billion yen ($4.39 billion) under GAAP, the same level it would achieve when calculated according to IFRS.
Hans Greimel
The New Hyundai i40 Saloon and Tourer, Pricing and specification announced.
- Prices range from £19,600 to £28,850 OTR
- Available in four trim levels: S, SE Nav, SE Nav Business and Premium
- Fresh and dynamic styling enhancements combine with improved efficiency
- New 7-speed DCT replaces previous automatic transmission
Hyundai Motor UK today announced the official pricing and specification for the New Hyundai i40. Prices start at £19,600 for the entry level S trim on the i40 Saloon, which includes standard features such as:
16” alloy wheels, Bluetooth® connectivity, air conditioning, leather wrapped steering wheel, automatic headlights with dusk sensor and steering wheel audio with telephone controls.
A new introduction, the SE Nav trim level, boasts standard fitment of Hyundai’s capable touchscreen satellite navigation with rear view parking camera and parking guidance system.
Priced from £21,600, the SE Nav adds to the S-model’s specification with DAB radio, auto dimming rear view mirror, climate control with auto defog, heated front seats, LED front fog lights and a seven speaker sounds system.
This trim level can be enhanced further in the SE Nav Business model, from £23,100, with keyless smart entry with start/stop button and driver’s seat memory function.
The range topping Premium models, start at £25,600, feature 18” alloy wheels, panoramic sunroof with electric tilt and slide, luggage net, super vision instrument cluster with LCD colour display and lane departure warning.
Tony Whitehorn, President and CEO of Hyundai Motor UK, commented: “The introduction of New i40 Tourer and Saloon means that the Hyundai range now has a fresher and more dynamic look, with changes aimed to appeal particularly to the requirements of our fleet customers.
The addition of the SE Nav as a new trim level provides a clear differentiator from the traditional SE models and identifies the standardisation of our highly capable navigation system.”
The New i40 benefits from Hyundai’s efficient Blue Drive technologies across a choice of three engines; a 1.7-litre diesel with an output of 115PS with six speed manual transmission, a 1.7-litre diesel with an output of 141PS and six speed transmission and a 1.7-litre diesel engine delivering up to 141PS with seven speed DCT.
Designed and engineered at Hyundai’s European R&D headquarters New i40 benefits from refreshed styling, upgraded engines, a new transmission, improved ride and handling, and a range of new safety and convenience features.
Hyundai’s European design team made a number of changes to the styling of New i40, notably the front grille and front bumper have been redesigned, along with reshaped front and rear lights.
New i40 is available to order at Hyundai showrooms across the UK now.
New i40 full technical details and specifications
i40 Tourer OTR Price (£) | i40 Saloon OTR Price (£) | |
S 1.7CRDi 115PS Blue Drive Manual | 20,850.00 | 19,600.00 |
S 1.7CRDi 141PS Blue Drive Manual | 21,650.00 | 20,400.00 |
SE Nav 1.7CRDi 115PS Blue Drive Manual | 22,850.00 | 21,600.00 |
SE Nav 1.7CRDi 141PS Blue Drive Manual | 23,650.00 | 22,400.00 |
SE Nav 1.7CRDi 141PS Blue Drive DCT | 25,550.00 | 24,300.00 |
SE Nav Business 1.7CRDi 115PS Blue Drive Manual | 24,350.00 | 23,100.00 |
SE Nav Business 1.7CRDi 141PS Blue Drive Manual | 25,150.00 | 23,900.00 |
SE Nav Business 1.7CRDi 141PS Blue Drive DCT | 27,050.00 | 25,800.00 |
Premium 1.7CRDi 141PS Blue Drive Manual | 26,950.00 | 25,600.00 |
Premium 1.7CRDi 141PS Blue Drive DCT | 28,850.00 | 27,500.00 |
| Model | CO2 emissions (g/km) | VED Band |
| S 1.7CRDi 115PS Blue Drive Manual | 110 | B |
| S 1.7CRDi 141PS Blue Drive Manual | 114 | C |
| SE Nav 1.7CRDi 115PS Blue Drive Manual | 110 | B |
| SE Nav 1.7CRDi 141PS Blue Drive Manual | 114 | C |
| SE Nav 1.7CRDi 141PS Blue Drive DCT | 129 | D |
| SE Nav Business 1.7CRDi 115PS Blue Drive Manual | 110 | B |
| SE Nav Business 1.7CRDi 141PS Blue Drive Manual | 114 | C |
| SE Nav Business 1.7CRDi 141PS Blue Drive DCT | 129 | D |
| Premium 1.7CRDi 115PS Blue Drive Manual | 118 | C |
| Premium 1.7CRDi 141PS Blue Drive Manual | 123 | D |
| Premium 1.7CRDi 141PS Blue Drive DCT | 129 | D |
New i40 - S
| 16” alloy wheels |
| Body coloured door mirrors with integrated LED indicators |
| Body coloured exterior door handles |
| Intelligent Stop and Go (ISG) |
| High Mounted LED Brake Light |
| Black Matt Finish Radiator Grille |
| Rear Spoiler (Tourer only) |
| Leather wrapped gear knob |
| Leather wrapped steering wheel |
| Silver Coloured Roof Rails (Tourer only) |
| Solid Paint |
| Chrome Effect Window Surrounds |
| Black Gloss Dash Trim |
| Front, Rear and Luggage Compartment Interior Light |
| Cloth Seat Trim |
| Driver’s Seat with manual Height Adjustment and Electric Lumbar Support |
| Front head restraints – vertical and horizontal adjustment |
| Split folding rear seats (60/40) |
| Adjustable intermittent front windscreen wiper with aero wiper blade |
| Air conditioning |
| Automatic headlights with dusk sensor |
| Front fog lights |
| Heated rear windscreen (Saloon only) |
| Heated rear windscreen with washer and wiper (Tourer only) |
| LED brake lights |
| Projection headlights with LED daytime running lights |
| Rear air vents in centre console |
| Tinted glass with sunshine band |
| Welcome and Follow-me-home headlight function |
| 12V power outlet in front and rear console |
| Front armrest with storage |
| Rear armrest with cup holder |
| Bottle holders in front centre console and front and rear doors |
| Front door courtesy light |
| Heated and electrically adjustable door mirrors |
| Front and rear electric windows with anti-trap mechanism and one touch controls on all windows |
| Variable height boot floor |
| Driver and front passenger seat back pockets |
| Glove compartment with illumination and lock |
| One-touch indicators |
| Power assisted steering |
| Retractable load cover (Tourer only) |
| Spare emergency space saver wheel |
| Height and reach adjustable steering column |
| Sun visors with vanity mirrors and illumination |
| Six speakers – two tweeters, two front door and two rear door |
| Bluetooth connectivity with voice recognition |
| Gear shift indicator on manual transmission |
| Flex steer |
| Steering wheel audio and phone controls |
| Stereo RDS Radio/CD Player with MP3/WMA Compatibility |
| Trip computer |
| USB and AUX connections |
| Seven airbags – Front, front side, driver’s knee and full length curtain |
| Active front head restraints |
| Anti-lock Brake System (ABS) and Electronic Brake force Distribution (EBD) |
| Brake Assist System (BAS) |
| Childproof rear door locks |
| Deadlocks |
| Electric parking brake with automatic hold function |
| Electronic Stability Programme (ESP) |
| Emergency Stop Signal (ESS) |
| Front seatbelt pre-tensioners |
| Height adjustable front seatbelts |
| Hill-start assist control (HAC) |
| Immobiliser |
| ISOfix Child Seat Anchorage Points - Rear (outer seats only) |
| Locking wheel nuts |
| Passenger airbag deactivation switch |
| Remote central locking with alarm |
| Seatbelt reminder |
| Speed sensitive automatic door locking |
| Tyre pressure monitoring system (TPMS) with individual tyre pressure display |
| Vehicle Stability Management (VSM) |
New i40 SE Nav (in addition to S)
| Body coloured exterior door handles with chrome inserts |
| Brush chrome effect dash trim |
| Stainless steel door sill |
| Heated steering wheel |
| Chrome effect interior door handles |
| Front passenger seat with manual height adjustment |
| Heated front seats |
| Automatic dimming rear view mirror |
| Automatic windscreen wipers with rain sensor |
| Dual zone climate control with auto front screen de-fog system |
| LED front fog lights |
| Privacy glass |
| Solar glass with sunshine band |
| Cruise control with speed limiter |
| Electrically adjustable and heated door mirrors with power folding |
| DAB radio |
| Front and rear parking sensors |
| Touchscreen satellite navigation system with rear view parking camera, parking guidance and seven speakers including AMP and subwoofer |
New i40 SE Nav Business (in addition to SE Nav)
| Driver’s seat with memory function |
| Front passenger seat with electric adjustment and lumbar support |
| Leather seat trim (seat facings only) |
| Ventilated front seats |
| Keyless smart entry with engine start/stop button |
New i40 Premium (in addition to SE Nav Business)
| 18” alloy wheels |
| Black with chrome inserts radiator grille |
| Satin chrome effect door frame and beltline moulding |
| Heated outer rear seats |
| Panoramic sunroof with electric tilt and slide |
| Luggage net |
| Smart electric tailgait (Tourer only) |
| Supervision instrument cluster with LCD colour display |
| Nine airbags – front, front side, rear side, driver’s knee and full length curtain |
| Lane departure warning system |
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