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Honda says will cut UK jobs on weak European car demand

Honda will axe 340 jobs by cutting shifts at its factory in western England in response to weak European demand for its cars, the Japanese automaker said on Tuesday. The firm will cut the production rate at its Swindon factory from three shifts to two. This would mean that the number of production workers would fall by about 10 percent. Most cars built at the plant are exported but sales in other countries have not been so strong as in Britain, Honda Motor Europe said in a statement

Clean Diesel shares jump on new catalyst deal with Honda

(Reuters) - Clean Diesel Technologies Inc <CDTI.O>, a maker of emission control systems for vehicles, said it had started production of catalysts for Honda Motor Co's <7267.T> 2015 Acura TLX model, sending its shares up as much as 160 percent in early trading. Clean Diesel said shipments of the catalysts featuring its mixed-phase technology are expected to begin in the first half of 2014.

Formula One: Honda touts 'steady progress' in comeback

Japanese automaker Honda said Friday it is making "steady progress" toward its return to Formula One racing in 2015. Honda said last year it would rejoin the European-dominated sport as an engine supplier to British team McLaren in a bid to revive their championship-winning partnership. "The company is making steady progress in developing the power unit," Honda said in a statement outlining its motorsports strategy for 2014.

Formula One: Honda touts 'steady progress' in comeback

Japanese automaker Honda said Friday it is making "steady progress" toward its return to Formula One racing in 2015. Honda said last year it would rejoin the European-dominated sport as an engine supplier to British team McLaren in a bid to revive their championship-winning partnership. "The company is making steady progress in developing the power unit," Honda said in a statement outlining its motorsports strategy for 2014.

Honda net profit doubles to $1.56 bn in Q3

Honda said Friday its net profit doubled to $1.56 billion in the three months to December, thanks to brisk global sales and a weaker yen. Net profit for October-December rose to 160.7 billion yen ($1.56 billion), while revenue rose 24.5 percent to 3.02 trillion yen in the quarter. The results were "mainly due to a rise in automobile and motorcycle net sales as well as the positive impact of foreign exchange effects," the company said.

Honda net profit doubles to $1.56 bn in Q3

Honda said Friday net profit doubled to $1.56 billion in the three months to December, thanks to brisk global sales and a weaker yen. Net profit for October-December rose to 160.7 billion yen ($1.56 billion), while revenue rose 24.5 percent to 3.02 trillion yen in the quarter. The results were "mainly due to a rise in automobile and motorcycle net sales as well as the positive impact of foreign exchange effects", the company said.

Canadian auto sales revved to record 1.74M in 2013; Ford leads the pack

Canadian auto sales surged to a record 1.74 million vehicles in 2013 as the industry continued its astounding rebound from the Great Recession, according to figures supplied by DesRosiers Automotive Consultants. DesRosiers said Friday that last year's sales, which topped the previous record of just over 1.7 million in 2002, were up four per cent from 1.67 million in 2012. That was when the industry completed its comeback from the recession, which drove sales down to 1.46 million vehicles in 2009.

October auto sales up 7.4 per cent from a year ago, DesRosiers says

TORONTO - Canadian auto and truck sales last month were up 7.4 per cent from a year ago, according to data Friday compiled from DesRosiers Automotive Consultants. Light vehicle sales totalled 145,460 for the month, up from 135,476 in October 2012 as Ford led the way with a gain of more than 10 per cent. The U.S. automaker sold 22,635 vehicles for the month, up from 20,561 a year ago. "We are proud to have achieved the best month of sales on record in more than 15 years," Ford Canada president and chief executive Dianne Craig said in a statement.

Honda says profits rise on weak yen, N. America sales

Honda said Wednesday that profits jumped in the six months to September as Japan's number-three automaker benefited from a weak yen and strong sales in North America. The company also reported brisk global demand for its name brand motorbikes, led by fast-growing markets in Asia. A sharp decline in the yen this year has boosted profitability at major Japanese exporters including Honda rivals Toyota and Nissan, which report their earnings next week.

Honda says first-half profit up 13.5% to $2.47 bn

Honda said Wednesday its net profit rose 13.5 percent to $2.47 billion in the first six months to September, as the Japanese automaker benefited from the weaker yen and strong overseas sales. Revenue grew 21.6 percent to 5.72 trillion yen ($58.3 billion) in its fiscal first half, as sales jumped 6.1 percent in the key North American market and 17.8 percent in Asia, it said. Profitability was even better in the quarter to September with net earnings up 46.4 percent from a year earlier, it said.
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