The Insurance Institute for Highway Safety (IIHS) has rendered the top rating - ‘Good’ - on Honda Motor Co.’s (HMC - Free Report) Civic (both two- and four-door versions from 2013 model year) in the new crash test.
The crash test assessed the performance of the vehicle under the new and tougher environment, examining the consequence of a collision between the front corner of a vehicle with another vehicle or object like a tree or utility pole.
Recently, Honda upgraded and redesigned the 2012 Civic, providing it with a sleek look and better interior quality and steering. Honda undertook this decision to resolve the issues regarding the 2012 model and make it suitable for consumers.
The new IIHS crash test was conducted on five vehicles including Honda Civic. AB Volvo’s XC60 mid-sized SUV also received ‘Good’ rating, while Ford Motor Co.’s (F - Free Report) Lincoln MKZ luxury sedan and Mazda Motor Corp's 6 sedans received ‘acceptable’ rating.
Recently, Toyota Motor Corp.’s (TM - Free Report) best-selling 2013 Camry passenger car received a poor crash-test rating from the IIHS. However, its predecessor, 2012 Camry was acclaimed as a Top Safety Pick by IIHS and received a 5-star safety rating from the National Highway Traffic Safety Administration.
Honda 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 to specialty sports cars. Currently, Honda retains a Zacks Rank #3 (Hold) on its stock.
Honda reported a 62.5% increase in profits to ¥77.4 billion ($894.0 million) in the third quarter of fiscal 2013 ended Dec 31, 2012 from ¥47.7 billion in the same quarter of prior fiscal year. Earnings per share rose 62.5% to ¥42.97 ($0.57) from ¥26.45 in the fiscal-2012 quarter
Revenues in the quarter escalated 24.9% to ¥2.4 trillion ($28.1 billion), driven by increased revenues from the company’s automobile business with the recovery of production from the impact of the flooding in Thailand.