Honda Motor Company in its annual report covering end of life car recycling in Japan said today it made money on the sustainability program that is part of Japanese regulations.
The total cost of the recycling efforts amounted to ¥3.48 billion ($44.55 million), which was ¥290 million ($3.7 million) less than the total recycling proceeds received which was ¥3.77 billion yen.
Honda broke the recycling effort out in three areas required under Japan’s end of life law: fluorocarbons, airbags, Automobile Shredder Residue or ASR. About 320,000 cars had fluorocarbons recycled, decrease of 16% compared to the previous year. The number of vehicles from which airbags were collected was approximately 240,000 units, a decrease of 6%, The number of scrapped vehicles from which ASR was collected as the final stage of recycling was 370,000, a decrease of 20% compared to the preceding fiscal year.
The recycling rate of airbag inflators and ASR was 93.6% and 93.3%, respectively, easily complying with the law, which requires 85% for airbag inflators and 70% for ASR by the fiscal year ending March 31, 2016. Honda said it intends to increase recycling rates.