HMC - Honda Motor Co., Ltd.

NYSE - NYSE Delayed price. Currency in USD
25.95
+0.13 (+0.50%)
At close: 4:00PM EDT
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Previous close25.82
Open25.82
Bid0.00 x 1000
Ask0.00 x 900
Day's range25.62 - 25.99
52-week range19.38 - 29.44
Volume412,326
Avg. volume929,461
Market cap45.33B
Beta (5Y monthly)1.10
PE ratio (TTM)4.48
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield1.03 (3.99%)
Ex-dividend date27 Mar 2020
1y target estN/A
  • Honda Strengthens Its Battery Supply for Electric Vehicles, Inks Agreement With CATL
    Motley Fool

    Honda Strengthens Its Battery Supply for Electric Vehicles, Inks Agreement With CATL

    With a goal of electric vehicles (EVs) accounting for two-thirds of global sales in 2030, Honda Motor (NYSE: HMC) has just taken a step to shore up its battery supply. The automaker announced today that it has entered into an agreement with Contemporary Amperex Technology Ltd., otherwise known as CATL, to fortify their positions in the area of battery technology -- particularly for battery EVs. According to Honda, the "agreement will enable the two companies to begin discussions on a broad range of areas including joint development, stable supply, and the recycling and reuse of batteries."

  • Honda invests in China's CATL to jointly develop EV batteries
    Reuters

    Honda invests in China's CATL to jointly develop EV batteries

    Japan's Honda Motor Co Ltd will buy a 1% stake in Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) and the two will jointly develop EV batteries, the companies said on Friday. The move comes at a time when auto manufacturers and EV battery makers are joining forces in pursuit of an electric future. CATL, based in Ningde, said last year it would develop batteries with Honda and also supply batteries to Tesla, Toyota and Volkswagen AG.

  • Nissan Secures $7.8B Funding to Fight Coronavirus Woes
    Zacks

    Nissan Secures $7.8B Funding to Fight Coronavirus Woes

    The $7.8-billion funding from creditors is set to help finance Nissan's (NSANY) liquidity requirements for countering the rising uncertainties related to the coronavirus crisis.

  • Facebook Under Fire as Companies Pause Social Media Ads: List
    Bloomberg

    Facebook Under Fire as Companies Pause Social Media Ads: List

    (Bloomberg) -- Here’s a list of companies that are planning to halt spending on social media. Some have joined a boycott of Facebook Inc. after critics accused the social network of inadequately policing hateful and misleading content on its platform:Harley Davidson Inc. -- The motorcycle maker said in an email it was pausing Facebook ads in July “to stand in support of efforts to stop the spread of hateful content.”Pernod Ricard SA -- The French distiller of Jameson whiskey and Absolut Vodka, which spends more than 1.5 billion euros ($1.69 billion) on advertising annually, is boycotting Facebook and some other U.S. sites through July 31 and working with partners on an app to help victims of online abuse.Daimler AG -- The Mercedes-Benz maker is pausing its paid advertising on Facebook platforms in July, while adding that it expects to the relationship to resume because it’s confident the social-media company will take “necessary steps.”Molson Coors Beverage Co. -- The brewer is choosing to pause advertising on Facebook, Instagram and Twitter while it reviews its own standards and ways to protect the brands and guard against hate speech, Chief Marketing Officer Michelle St. Jacques said in an internal email.Constellation Brands -- The maker of Corona beer and Kim Crawford wines is pausing Facebook ads for the month of July.Dunkin’ Brands Group -- The donut chain is temporarily pausing its paid media on Facebook and Instagram, a spokesperson says, adding that it’s in discussions with Facebook about efforts to stop hate speech and thwart “the spread of “racist rhetoric and false information.”Lego A/S -- Stopping all advertising on social media for at least 30 days to review its standards and will “invest in other channels” during that time.The Body Shop -- The beauty chain says it’s halting paid activity on all Facebook channels and asking the social-media company to enhance and enforce its content-moderation policies.Starbucks Corp. -- Pausing advertising on all social media platforms. Will post on social media without paid promotion.Microsoft Corp. -- Paused global advertising spending on Facebook and Instagram because of concerns about ads appearing next to inappropriate content, according to a person familiar with the matter.Unilever Plc -- Halting advertising on Facebook, Instagram and Twitter in the U.S. through Dec. 31.Volkswagen AG -- The ad stop on Facebook affects the direct ad accounts of the German manufacturer’s brands, including Porsche, Audi and Lamborghini. VW, its ad agencies and the Anti Defamation League will enter talks with Facebook over how to deal with hate speech, discrimination and false information, according to an emailed statement.Mars -- Starting in July, a pause on paid advertising globally across social-media platforms, including Facebook, Instagram, Twitter and Snapchat.Target Corp. -- Pausing ads on Facebook in July.Coca-Cola Co. -- Pausing advertising on all social media platforms.Clorox Co. -- Will stop advertising spending with Facebook through December.Conagra Brands Inc. -- Will stop advertising in U.S. on Facebook and Instagram through the rest of the year.Ford Motor Co. -- Halting U.S. social media for 30 days, won’t purchase social media ads for Bronco unveiling.Honda Motor Co. -- “For the month of July, Honda will withhold its advertising on Facebook and Instagram, choosing to stand with people united against hate and racism.” Acura, a Honda brand, said in a tweet that it was “choosing to stand with people united against hate and racism.”Hershey Co. -- Will halt spending on Facebook in July and cut its spend on the platform by a third for the remainder of the year, according to Business Insider.Diageo Plc -- Pausing paid advertising globally on major social media platforms beginning in July.PepsiCo Inc. -- Pulling ads on Facebook from July through August.Verizon Communications Inc. -- “We’re pausing our advertising until Facebook can create an acceptable solution that makes us comfortable and is consistent with we’ve done with YouTube and other partners,” said John Nitti, chief media officer for Verizon.SAP SE -- “We will suspend all paid advertisements across Facebook and Instagram until the company signals a significant, action-driven commitment to combatting the spread of hate speech and racism on its platforms.”Levi Strauss & Co. -- Pausing all paid Facebook and Instagram advertising globally and across all brands through July.Diamond Foundry Inc. -- Pulling all of advertising from Facebook, including Instagram, for the month of July.Patagonia Inc. -- Will pull all ads on Facebook and Instagram, effective immediately, through at least the end of July, pending meaningful action from Facebook.Viber Media Inc. -- The messaging service, owned by Japanese conglomerate Rakuten, plans to cut ties with the social network entirely, according to the Guardian.VF Corp. -- The North Face will pause ads on Facebook for the month of July. Vans, another VF brand, will also pull ad dollars from Facebook and Instagram next month, and said it will use the money to support Black communities through empowerment and education programs.REI -- “For 82 years, we have put people over profits. We’re pulling all Facebook/Instagram advertising for the month of July.”Upwork Inc. -- No Facebook advertising in July.Eileen Fisher Inc. -- Pulling ads from Facebook through July.Adidas AG -- Will stop ads on Facebook and Instagram internationally through July, according to Adweek.Puma SE -- Will stop all advertisements on Facebook and Instagram throughout July.Madewell Inc. -- Will pause ads on Facebook and Instagram through July.Pfizer Inc. -- Removing all advertising from Facebook and Instagram in July, calls on Facebook to heed the concerns of the StopHateForProfit boycott campaign “and take action.”Chipotle Mexican Grill Inc. -- To pause Facebook advertising beginning July 1, according to an email.Chobani -- The Greek-yogurt company paused all paid social-media advertising.Peet’s Coffee -- Paused advertising on Facebook.Sony Interactive Entertainment Inc. -- ”In support of the StopHateForProfit campaign, we have globally suspended our Facebook and Instagram activity, including advertising and non-paid content, until the end of July.”(Updates with Sony Interactive Entertainment)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • U.S. Auto Sales Fail to Recover in Q2: More Pain Ahead?
    Zacks

    U.S. Auto Sales Fail to Recover in Q2: More Pain Ahead?

    Moody's forecasts global auto sales decline of at least 20% year over year in 2020, with major impacts to be felt in North America and EMEA.

  • Facebook Ad Boycott Sinks Stock, Raises Pressure on Zuckerberg
    Bloomberg

    Facebook Ad Boycott Sinks Stock, Raises Pressure on Zuckerberg

    (Bloomberg) -- Critics of Facebook Inc. who have assailed the social network as failing to adequately police hateful and misleading content on its service found a powerful ally Friday: Unilever, one of the world’s largest advertisers, said it would stop spending money with Facebook’s properties this year.The decision by the maker of major consumer goods like Dove soap and Hellmann’s mayonnaise to follow other brands in an advertising boycott, prompted a rare reaction from Facebook’s investors. Shares plunged 8.3% on the news, eliminating $56 billion in market value. Unilever’s pledge applies immediate pressure on other big companies and presents a risk to Facebook’s dominant business. Later Friday, Coca-Cola Co. said it would pause ads on all social media platforms for at least 30 days, while Honda Motor Co.’s U.S. unit, Hershey Co. and several smaller brands said they would join the boycott.Facebook Chief Executive Officer Mark Zuckerberg attempted to address advertiser concerns in a live question-and-answer session with employees Friday, announcing a handful of minor changes to the company’s ad and content policies. But his remarks didn’t go far enough for critics.The Anti-Defamation League, among the collection of civil rights groups that organized the July ad boycott, called the changes announced by Zuckerberg “small.”“We have been down this road before with Facebook,” the group said in a statement. “They have made apologies in the past. They have taken meager steps after each catastrophe where their platform played a part. But this has to end now.”The social network has been less aggressive than competitors Twitter Inc. and Snap Inc. in responding to what employees and advertisers say are harmful posts from U.S. President Donald Trump, as well as incendiary content that goes viral. Facebook, of these companies, is also the most susceptible to regulatory risk, and is already facing antitrust investigations from the Justice Department and the Federal Trade Commission.“You can continuously see the challenge of them trying to have these kinds of broad principles around free expression and stopping harm, and then that mixing with the realpolitik of trying to keep the executive branch happy, which happens to have a half dozen investigations open of Silicon Valley companies for a variety of reasons,” Alex Stamos, a former Facebook security executive, said this week at the virtual Collision Conference.The regulatory threats have historically seemed to loom larger for Facebook than advertiser concerns. The company accounts for about 23% of the entire U.S. digital advertising market, according to EMarketer. And it dominates social media with more than 3 billion users of all its properties.For years, Facebook has weathered scandals with its business intact and growing rapidly. The company’s advertising revenue gained 27% in 2019 to more than $69.7 billion despite threats of regulation, previous calls for advertising boycotts and a user movement encouraging people around the world to delete their accounts. But just four months before the U.S. election, and amid nationwide protests about race and policing in society, Facebook finds itself at the cultural center of a divided country, balancing regulatory pressures with societal ones.Facebook already warned that advertisers are spending less as a result of the coronavirus pandemic. Now, businesses are under pressure to cut costs and respond to the public’s concerns about racial injustice in society. When the civil rights groups organized the ad boycott to push Facebook to better combat hate speech, companies saw a way to make a political statement at an economically convenient time.“It is clear that Facebook and its CEO, Mark Zuckerberg, are no longer simply negligent, but in fact, complacent in the spread of misinformation, despite the irreversible damage to our democracy,” Derrick Johnson, president and CEO of the NAACP said in a statement last week.Facebook has tried to quell the boycott behind the scenes, and has reached out to advertisers to push back on the narrative that it doesn’t care about fighting hate and misinformation. In an email to advertising partners, the company highlighted the software it uses to detect hate speech, which has improved over the years, and its efforts to circulate verified information around the elections with a new informational hub and a goal to register 4 million new voters.During the Q&A with employees, Zuckerberg went a step further. He said the company will put a link to the voting hub on all posts related to voting, and will also start marking posts that violate Facebook’s rules, although the posts will remain up if they’re newsworthy.Those rules give Facebook cover to take an action without making a decision on the nature of the content. For instance, several weeks ago when Trump tweeted that mail-in voting would lead to fraud, Twitter labeled the post to fact-check it. Zuckerberg left the same post alone on Facebook. But now, if all voting-related posts have a context link on them, the CEO won’t have to make controversial decisions about their accuracy.Facebook, which already prohibits advertising that discriminates, also sharpened those policies Friday with a clause saying no ads will be allowed if they label another demographic as dangerous, or if they portray immigrants, migrant groups or refugees as inferior and worthy of disgust. “There are no exceptions for politicians in any of the policies I’m announcing here today,” Zuckerberg said.In a follow-up email to advertisers late Friday, Carolyn Everson, vice president of global marketing solutions, summarized the announcements Zuckerberg made and outlined many of the steps the company already takes to find and remove hate speech. Everson added that Facebook will seek an audit for its quarterly report outlining how it enforces its community standards.“Hate is an insidious feature of every society, and that is reflected across all platforms,” she wrote. “But we also believe in our responsibility to help change the trajectory of hate speech -- and while we know we can’t eradicate it, we will continue to do everything in our power to shatter its presence on our platform.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Facebook, Twitter Tumble on Unilever’s Social-Media Pullback
    Bloomberg

    Facebook, Twitter Tumble on Unilever’s Social-Media Pullback

    (Bloomberg) -- Facebook Inc. and Twitter Inc. shares tumbled Friday after Unilever, one of the world’s largest advertisers, said it will halt all U.S. advertising on both platforms, fueling concerns that other major consumer brands may follow suit.Unilever, which owns names like Hellmann’s mayonnaise and Axe shower gel and has an annual advertising budget of almost $8 billion, said it won’t advertise on Facebook, Twitter and Facebook-owned Instagram for the rest of the year because of the hate speech and polarized politics that users often post.“Continuing to advertise on these platforms at this time would not add value to people and society,” Unilever said in an emailed statement. “We will be monitoring ongoing and will revisit our current position if necessary.”Facebook shares extended a decline after the news. The stock had dropped 4.6% earlier Friday, then fell 8.3% to $216.08 at the close. Twitter shares dropped 7.4% to $29.05.Facebook Chief Executive Officer Mark Zuckerberg responded Friday to the growing criticism about misinformation on the site, announcing the company would label all voting-related posts with a link encouraging users to look at its new voter information hub, and expanded its definition of prohibited hate speech for in advertising.Unilever’s decision follows similar moves by a growing list of high-profile consumer companies, including outdoor gear company Patagonia and Verizon Communications Inc., which claim that technology platforms -- particularly Facebook -- profit off user posts that promote hate and spread misinformation.A consortium of civil rights and other advocacy groups, including Color of Change and the Anti-Defamation League, have called on advertisers to stop spending on Facebook-owned platforms for the month of July to protest the company’s policies. Honda Motor Co.’s U.S. unit said Friday that it would join the boycott and halt advertising on Facebook and Instagram in July. Unilever’s commitment extends that pledge through 2020, and adds rival social network Twitter to the mix, which has also struggled to deal with offensive posts but has recently taken a more active stance than Facebook in some cases related to U.S. President Donald Trump.More brands joined the fray as the day wore on. Coca-Cola Co. said it will pause paid advertising on all social media for at least 30 days. Hershey Co. intends to halt Facebook spending in July, according to Business Insider.So far, the boycott organizers say that more than 100 companies are participating.“We invest billions of dollars each year to keep our community safe and continuously work with outside experts to review and update our policies,” a Facebook spokeswoman said in a statement, adding that the company has banned 250 White supremacist organizations from its platforms. “We know we have more work to do, and we’ll continue to work with civil rights groups, GARM, and other experts to develop even more tools, technology and policies to continue this fight.”Facebook has had a rocky relationship with civil rights groups for years, which have fought to diversify Facebook’s board of directors, accused the company of enabling voter suppression tactics, and took issue with Facebook’s decision to name the Daily Caller, a right-wing news outlet with ties to white nationalism, as one of its formal fact-checking partners in 2019.Frustrations were renewed after Zuckerberg said that a series of posts from Trump about race-related protests were not a violation of the company’s rules. In one last month, Trump said that “when the looting starts, the shooting starts,” a post that was flagged on Twitter as a violation but not on Facebook. A number of unhappy Facebook employees staged a walkout to protest the decision.As the boycott has grown over the past week, Facebook has been reaching out to advertisers to share details about the company’s existing policies, and its efforts to automate the flagging and removal of hate speech on its service. It’s also been highlighting its work to increase voter registration, and on Friday Zuckerberg said the company would now prohibit ads that target certain races or ethnic groups as dangerous. In an email to marketers this week, the company said that it bases its policies on principles, not business interests.Twitter, which has not been the target of the formal ad boycott but has faced similar criticisms as Facebook over the years, says that Unilever reached out to alert the company of its decision before making the announcement publicly.“Our mission is to serve the public conversation and ensure Twitter is a place where people can make human connections, seek and receive authentic and credible information, and express themselves freely and safely,” said Sarah Personette, Twitter’s vice president of global client solutions, in a statement. “We are respectful of our partners’ decisions and will continue to work and communicate closely with them during this time.”(Updates with Coca-Cola and Hershey in eighth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Honda, General Motor to Jointly Manufacture Hand Sanitizers
    Zacks

    Honda, General Motor to Jointly Manufacture Hand Sanitizers

    Honda (HMC) and General Motors (GM) are jointly producing nearly 12,000 gallons of hand sanitizers for employees and health-care facilities.

  • Auto Stock Roundup: Ford-Volkswagen EV Deal, Toyota Fuel Cell JV in China & More
    Zacks

    Auto Stock Roundup: Ford-Volkswagen EV Deal, Toyota Fuel Cell JV in China & More

    While Ford (F) and Volkswagen (VWAGY) finalize their partnership to build EVs, vans and pickups, Toyota (TM) joins forces with five China-based firms to develop fuel cell vehicles.

  • Reuters

    Explosion hits Honda's plant in central Japan, two workers hospitalized

    An explosion was reported at Honda Motor Co Ltd's plant in central Japan, police said on Sunday, with two workers sent to the hospital with burns. The explosion at a switchboard occurred at around 9:15 am local time (0015 GMT) in Honda's plant in Suzuka city, Mie prefecture, an officer with the prefectural police said. Two workers in their 20s, who were checking the switchboard, were injured and sent to be treated, the officer said.

  • Honda resumes production at plants hit by suspected cyber attack
    Reuters

    Honda resumes production at plants hit by suspected cyber attack

    Japan's Honda Motor Co has resumed production at automobile and motorcycle plants in the United States and other countries after they were hit by a suspected cyber attack this week, a spokesman said on Friday. The suspected attack comes less than a month after Honda reopened its North American vehicle assembly plants, following closure of factories in late March to comply with coronavirus-related, shelter-at-home rules in the United States and Canada. Another vehicle plant in Turkey and motorcycle plants in India and Brazil were back up and running by Wednesday, he said, while some North American call centres and online financial services continued to experience disruptions.

  • The Zacks Analyst Blog Highlights: Volkswagen, Toyota, Nissan and Honda
    Zacks

    The Zacks Analyst Blog Highlights: Volkswagen, Toyota, Nissan and Honda

    The Zacks Analyst Blog Highlights: Volkswagen, Toyota, Nissan and Honda

  • Honda's (HMC) Global Operations Disrupted by Cyber-Attack
    Zacks

    Honda's (HMC) Global Operations Disrupted by Cyber-Attack

    Honda (HMC) is working to restore full functionality of production, sales and development activities to reduce the impact of the recent cyber-attack.

  • Electric Pickup Race is on: Is Nikola The Tesla of Trucking?
    Zacks

    Electric Pickup Race is on: Is Nikola The Tesla of Trucking?

    The year 2021 is going to be the year for electric pickups and is likely to witness EV market revolution.

  • Honda global operations halted by ransomware attack
    TechCrunch

    Honda global operations halted by ransomware attack

    Honda has confirmed a cyberattack that brought parts of its global operations to a standstill. At this time Honda Customer Service and Honda Financial Services are experiencing technical difficulties and are unavailable. Honda is one of the largest vehicle manufacturers in the world, employing more than 200,000 staff, with factories in the U.K., North America, and Europe.

  • Japan Auto Sales in Free Fall: No Quick Recovery in Sight
    Zacks

    Japan Auto Sales in Free Fall: No Quick Recovery in Sight

    Outlook for new vehicle sales in Japan appears gloomy amid weak consumer sentiment and slowdown in economy.

  • Honda hit by cyber attack, some production disrupted
    Reuters

    Honda hit by cyber attack, some production disrupted

    Honda Motor Co <7267.T> suspended some of its auto and motorcycle production globally as the Japanese car giant grappled with a suspected cyber attack, a spokesman said on Tuesday. The suspected attack affected Honda's production globally on Monday, forcing some plants to stop operations as the company needed to ensure that its quality control systems were not compromised. Honda suspects the ransomware hit the company's internal servers, the spokesman said.

  • Economic Data Deluge
    Zacks

    Economic Data Deluge

    Economic Data Deluge

  • May Auto Sales Reports Today; Toyota (TM) -25.7%
    Zacks

    May Auto Sales Reports Today; Toyota (TM) -25.7%

    The S&P 500 is now above the 200-day trading average, suggesting another possible breakout to the upside.

  • First Manned Flight Is Just One Step for SpaceX
    Bloomberg

    First Manned Flight Is Just One Step for SpaceX

    (Bloomberg Opinion) -- The SpaceX Crew Dragon capsule that’s orbiting the Earth with two U.S. astronauts is the picture of New Space Age glamour. It’s a sleek, stylish commercially made capsule that’s destined to be featured beside Italian sports cars in future design textbooks. Just don’t tell that to Elon Musk, SpaceX’s chief executive and chief designer. “Is a Ferrari more reliable than a Toyota Corolla or a Honda Civic?” he once asked a space journalist. The answer, of course, is that the simpler sedans are far more reliable than the well-crafted sports car. So SpaceX, Musk made clear, was going to make Corollas.It’s a practically minded outlook for a company founded on the galactically large ambition to transform humanity into a multiplanetary species. But Musk and SpaceX implicitly understand something that national space programs haven’t really accepted: Success in space exploration isn’t, ultimately, about achieving “firsts” like the moon landing. Rather, it’s repeat business that will establish moon colonies and Musk’s Martian city. To get that business, SpaceX has to show that national space programs, with their expensive, Ferrari-like rockets, capsules and contractors, won’t get there. On Saturday, it succeeded.The 20th century space race wasn’t about the money, it was about the record books. The respective financial strengths of the U.S. and Soviet systems certainly played a role, but when national pride is at stake, performance matters more than costs. For decades, NASA, in particular, internalized that priority by adopting cost-plus contracts with its contractors. Under these arrangements, NASA agrees to pay the value of a project’s development costs, plus an associated fee (often about 10%). It’s an excellent system for encouraging contractors to invest in difficult, long-term projects with hazy costs.But if the goal is to create something that works repeatedly, and on-budget, cost-plus is a problem. After all, if a contractor’s fees increase during project delays, then that contractor lacks an incentive to control costs and finish on deadline. Making matters more difficult, expensive government programs must meet political requirements that no profit-seeking business would ever consider. The development of the 1970s-era space shuttle was spread out over states and produced an outrageously expensive “reusable” rocket that took thousands of hours to prepare for reuse. In 2012, Musk correctly called the shuttle “a Ferrari to the nth power.”By that point, Musk, too, was working with the U.S. government. But unlike traditional NASA contractors such as the Boeing Co, he was doing it on a fixed-fee basis. So, rather than get paid along the way, SpaceX accepted a fixed fee to build a technology, and whatever wasn’t used in development could be kept as profit.That doesn’t mean cutting corners. NASA requires that SpaceX’s technology meet its high safety standards (often to Musk’s chagrin). But it does mean that SpaceX has a strong incentive to find ways to control costs while building cutting-edge technology. For example, rather than try to perfect a single rocket for a flawless first launch, SpaceX opted for iterative design, whereby it launched — and failed — early prototypes repeatedly, as a means to learn from its mistakes and speed up rocket design. It’s an approach that differs substantially from traditional aerospace companies, which spend years and money perfecting a design before flying it (the Ferrari approach). Likewise, SpaceX, freed from political constraints, concentrated its design and testing in single locations, rather than spread it out geographically. It’s what any rational for-profit manufacturer would do.This approach has been fruitful. The rocket that carried the Crew Dragon capsule into orbit is a Falcon 9, from a family of rockets developed for $390 million with assistance from NASA under fixed-price contracts. According to a 2011 NASA report, the cost would’ve been $1.7 billion to $4 billion if the same rocket had been developed using traditional means. More dramatically, the development of the Falcon 9 has reduced the cost of a space launch by a factor of 20, at least. A kilogram launched on the space shuttle, which last flew in 2011, cost about $54,500. A kilogram on the Falcon 9 runs about $2,700.Of course, launching humans into space is more difficult and expensive than launching cargo. Even so, SpaceX managed to lap more traditional contractors. In 2011, NASA announced plans to build the Space Launch System, a massive new rocket to send Americans back to the moon. To save on costs and time, the rocket was to be built using engines and other components from the space shuttle program. Ominously, it was also to be built by the Boeing Co under a cost-plus contract. In 2014, NASA committed to a November 2018 launch date at a cost of $9.7 billion. Then the launch dates started slipping, all to the benefit of Boeing. By March, the launch date had moved to the second half of 2021, with costs escalating to $18.3 billion. If and when it flies, each rocket will exceed $1 billion — more than three times what it cost to develop the Falcon 9.For now, SpaceX’s approach is the clear winner, but its challenges are far from over. Above all, the company must demonstrate that its relatively inexpensive human-capable flights have a commercial market — an idea that’s far from certain. Similarly, the company will need to prove the business case for its longer-term, and substantially more expensive, ambitious exploration program. But today, at least, the Musk’s Corolla is beating the Ferrari by millions of miles.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Adam Minter is a Bloomberg Opinion columnist. He is the author of “Junkyard Planet: Travels in the Billion-Dollar Trash Trade” and "Secondhand: Travels in the New Global Garage Sale."For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Nissan (NSANY) Incurs Loss in FY19, Issues EV Ariya Update
    Zacks

    Nissan (NSANY) Incurs Loss in FY19, Issues EV Ariya Update

    Nissan (NSANY) reports net loss of 671.2 billion yen in fiscal 2019, mainly due to the COVID-19 pandemic, which hurt the company's production, sales and other business activities in all regions.

  • Renault & Nissan Revamp Alliance to Combat Coronavirus Crisis
    Zacks

    Renault & Nissan Revamp Alliance to Combat Coronavirus Crisis

    The fortified alliance among Renault (RNLSY), Nissan (NSANY) and Mitsubishi focuses more on efficiency and competitiveness than on volumes.

  • Why Ford, General Motors, and Honda Stocks Are Up Today
    Motley Fool

    Why Ford, General Motors, and Honda Stocks Are Up Today

    What happened Shares of several global automakers were rising on Tuesday, as auto factories around the world continued to ramp up after shutting down in March amid the COVID-19 pandemic.  Here's where things stood for these three companies' stocks as of 2:30 p.

  • Toyota, Nissan and Honda gear up for Mexico reboot after COVID-19 lockdowns
    Reuters

    Toyota, Nissan and Honda gear up for Mexico reboot after COVID-19 lockdowns

    Japanese automakers Toyota, Nissan and Honda said they are gradually restarting in Mexico as the nation's automotive industry reboots in line with a broader economic reopening, despite still-high numbers of new coronavirus cases. Mexican officials in mid-May said the automotive industry could exit the coronavirus lockdown before June 1 if approved safety measures were in place. Toyota Motor Corp and Nissan Motor Co Ltd told Reuters on Monday that they were preparing to gradually resume operations, and Honda Motor Co Ltd last Friday said it had begun a gradual return to operations.

  • Coronavirus: Keeping car showrooms shut costs UK government £61m a day
    Yahoo Finance UK

    Coronavirus: Keeping car showrooms shut costs UK government £61m a day

    UK auto lobby calls on government to allow showrooms to re-open.

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