Honda Motor Co.
) has launched the upgraded version of Civic at the ongoing Los
Angeles Auto Show. The 2013 Honda Civic is set to address the
growing demand for compact-vehicles. With the launch of the
upgraded Civic, the company seeks to strengthen its market
leadership and abide by its motto of providing speed,
affordability and low carbon dioxide emissions to its customers.
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The upgraded version of Civic features class-leading standard
features and upgraded design, but maintains the efficiency and
value attached with Civic automobiles. The vehicle is equipped
with Bluetooth Hands Free Link, Bluetooth Audio, rearview camera,
color i-MID display, USB/ iPod connection, Pandora Interface, an
SMS text feature, steering wheel audio controls, exterior
temperature gauge and sliding center-console armrest.
The vehicle is provided with new safety technologies including
Advanced Compatibility Engineering, SmartVent side airbags, side
curtain airbags with a rollover sensor and Forward Collision
Warning (FCW) and Lane Departure Warning (LDW) systems.
The vehicle will be available in LX, EX, EX-L and Si models
together with the Civic Hybrid, Civic Natural Gas and Civic HF
sedans. The starting price of the sedan has been set at $18,165.
Honda reported a 36.1% rise in its profit to ¥82.23 billion
($1.06 billion) or ¥45.63 (59 cents) per share in the second
quarter of fiscal 2013 from ¥60.43 billion or ¥33.53 per share in
the year-ago quarter. However, the earning per share lagged the
Zacks Consensus Estimate by 33 cents.
Consolidated net sales and other operating revenues climbed 20.4%
year over year to ¥2.27 trillion ($29.27 billion) due to higher
revenues from the company's Automobile segment with the recovery
from the impact of twin disaster in Japan in 2011, which was
partly offset by unfavorable foreign currency translation.
Honda Motor Company is a leading manufacturer of automobiles and
the largest manufacturer of motorcycles in the world. The
automaker is recognized internationally for its expertise and
leadership in developing and manufacturing a wide variety of
products that incorporate its efficient internal combustion
engine technologies ranging from small general-purpose engines to
specialty sports cars. It is the second largest automaker in
Japan, next to
Toyota Motor Corp.
Currently, Honda retains a Zacks #4 Rank, which translates into a
short-term Sell rating.