honda motor co ltd-spons adr (HMC) Key Developments
Bahrain Mumtalakat Open To McLaren Stake Sale
Jul 9 14
Bahrain Mumtalakat Holding Company is not in discussion to regarding McLaren Group Limited. Chief Executive of Mumtalakat, Mahmood Al Kooheji confirmed that there were no talks with Honda Motor Co., Ltd. (TSE:7267) about selling its stake in McLaren, but it is still an option. Mahmood Al Kooheji said, “Our stake in McLaren, you know, we are happy to have it there. If there is a business opportunity for somebody to buy from us we look at it commercially, but there is no talk at the moment directly with them (Honda) no.” Bahrain Mumtalakat’s investment arm owns 42% of the McLaren and half of McLaren Automotive Limited. Reports stated in early 2014 that Honda was interested in picking up the stake as part of its agreement to supply engines to McLaren's Formula 1 racing team starting in 2015. McLaren has said Honda was not interested in a possible purchase. The official mentioned, “I think the growth that you're looking at as well as the business opportunities will give us an ROI of 15 plus percent. So if I do the math, we expect the fund to grow, to be twice the size in five years.” He added, “We are looking at a few opportunities in Europe and we're quite bullish. In America we have goal of acquiring investments".
Honda Motor Launches its CD 110 Dream in India
Jul 8 14
Honda Motor Company has launched its CD 110 Dream in India. The vehicle is priced at INR 41,100. The Indian Express has reported that the model was launched as part of the company's move for a stronger position in rural areas and mass segment. The bike is available in three options of black, Blue Stripe, Grey Stripe and Red Stripe.
Honda Expands Airbag Recalls to Include US State of California
Jul 7 14
Honda has recalled more vehicles equipped with faulty airbags made by Takata in California (United States) following an accident in which a driver was injured. The recall, which was earlier prevalent in the humid regions of the United States, has been extended to California after the company was alerted on 25 June about an accident in which a driver of a Honda Accord (model year/MY2005) was injured. According to a complaint filed with the National Highway Traffic Safety Administration (NHTSA), the airbag in the car shot out hot metal and plastic shrapnel after a collision, leaving the driver with severe burns, bruises, and abrasions on her arms and legs. The vehicle was running at low speed. Honda will recall certain vehicles including MY2001-07 Accords, MY2001-05 Civics and MY2002-06 CR-Vs; no estimate on the number of vehicles to be recalled was provided.
Honda Announces China Sales Results for the Month of June 2014
Jul 3 14
Honda announced China sales results for the month of June 2014. For the month, the company’s sales rose 15.8% year-on-year to 70,739 vehicles. Honda's gains were led by its new Fit subcompact released in late May, with sales more than tripling year-on-year to 8,199 units.
Honda Motor Co., Ltd. Announces US Sales for the Month and Year to Date Ended June 2014
Jul 1 14
Honda Motor Co., Ltd. announced US sales for the month and year to date ended June 2014. HMC's combined sales in June were of 129,023 units compared to 136,915 units in the same period last year.
Year-to-date, HMC's total sales in the U.S. were of 739,436 units compared to 745,578 units sold in the same period last year.