2006 Honda Accord Ex on 2040-cars

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Honda reports $2.3 billion profit despite pandemic

TOKYO — Japanese automaker Honda reported Friday that its profit rose 23% in the last quarter, despite a pandemic that has slammed businesses around the world. Tokyo-based Honda said its July-September profit was 240.9 billion yen ($2.3 billion), up from 196.5 billion yen a year earlier, as the auto market recovered in some parts of the world. Honda said it carried out aggressive cost cuts that involved a “fundamental review” of its operations. The situation was also improving from earlier this year, when lockdowns and other problems related to COVID-19 caused disruptions of some production and an inventory crunch. Quarterly sales slipped to 3.65 trillion yen ($35 billion) from 3.73 trillion yen the same period a year earlier. Honda warned that uncertainty remains amid rising COVID-19 cases. But the company stressed it was managing to cling to profitability. Reflecting that upbeat mood, Honda raised its profit forecast for the fiscal year through March 2021 to 390 billion yen ($3.8 billion) from an earlier projection for 165 billion yen ($1.6 billion). The latest forecast is still lower than the 455.7 billion yen profit Honda booked in the previous fiscal year. Honda sold slightly more vehicles in the quarter through September at 1.25 million vehicles, compared to 1.24 million vehicles in the same period of 2019. But it sold fewer motorcycles at nearly 4.5 million motorcycles, down from nearly 5.1 million. Kohei Takeuchi, a senior Honda manager, said much of the damage to sales likely came from the pandemic, though he hesitated to blame the entire decline on the pandemic. Executive Vice President Seiji Kuraishi told reporters Honda is bullish on shifting its lineup to ecological models to keep up with the global efforts to curb carbon emissions and global warming. Also Friday, Toyota raised its full year fiscal forecasts to a 1.4 trillion yen ($13.5 billion) profit, after reporting results that appear to show a gradual but sure recovery. Its profit fell 11% in the last quarter. Nissan reports financial results next week. Related Video: Earnings/Financials Acura Honda

Alonso interview, part 2: He says F1-Indy crossovers boost racing

Fernando Alonso said his racing in this Sunday's Indy 500 spurred great interest in Spain and that other Formula One drivers crossing over would benefit both U.S. racing and Formula One. "I think Formula One needs North America and maybe North America needs more of Formula One than what we currently have," Alonso told Reuters on Tuesday. "I think its a win-win situation," the Spaniard said about the potential impact of more F1 drivers following his example and crossing over between the circuits. Alonso said he understood that interest back home in the Indy 500 had spiked by 800 percent. "For the fans, from what I see now in Spain and Europe, it is amazing the interest in the Indy 500 this year compared to any other year," he said. "Everyone in Spain, they are waiting for May 28 to watch the race. I received many messages from fans in social media saying, 'thanks for showing us this race because I never watched it before and I absolutely love it.'" Alonso also believes U.S. fans will become more intrigued by Formula One as they get to know those drivers. "Hopefully from now on the interest in Formula One in the US will be growing," he said. "We have new owners of Formula One, (U.S.-based) Liberty Media, and I think they have some good plans to build interest here." Alonso decided to skip this week's Monaco Grand Prix, which he has won twice, to try and add the Indy 500 as his second leg to a rare Triple Crown of Motorsport. The Spaniard hopes to emulate Graham Hill, who in 1972 became the first to complete the Formula One championship, Indy and Le Mans 24 Hours collection of titles. "The Triple Crown, I think that's the ultimate goal of any racing driver," said Alonso. "Only one man has achieved that in motor sports and that shows how difficult it is to do that." Alonso said he expects no problem adjusting back to Formula One after his Indy sojourn. "My skills, and my driving techniques are developed in Formula One cars. I think when I get back there it will be an immediate adaptation." With his contract up after this season with the poorly performing McLaren-Honda team, Alonso remained tight-lipped about his future. "After the summer I will consider what are the options out there," he said.Part 1 of this interview: F1 veteran gears up for his rookie run at Indy Reporting by Larry FineRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Drive A McLaren | The List #650

Honda CEO says we shouldn't expect any new sports cars

It wasn't so long ago that Honda was known for its sporty two-door models, with models ranging from the Civic del Sol to the Prelude and from the Acura Integra and RSX to the Honda S2000. But look at its range today and all you'll see are the Civic and Accord coupes. Honda has essentially let competitors like the Scion FR-S/Subaru BRZ and Nissan 370Z take the place it once claimed as its own. But if you were hoping Honda would fight back with a new coupe or convertible of its own, we're afraid you're going to have to downgrade those hopes to pipe dreams.
While in Japan ahead of the Tokyo Motor Show, Autoblog had a chance to sit down with American Honda CEO Tetsuo Iwamura (pictured at right). When we asked about the potential for a new sports coupe or convertible in the Honda or Acura lineup, he pointed to the current Civic and Accord coupes - not to mention the upcoming new NSX - but said that Honda has no replacement for any of the aforementioned models (or a rival for the FR-S or 370Z) in the pipeline, saying only that the company is monitoring potential demand.
What Iwamura-san did note was that he's a personal fan of the new S660 roadster (pictured above) set to be unveiled tomorrow, and he is pushing (or at least hoping) that it will come to North America. Given that he's head of both Honda's American office and its global automobile operations, one might think that the only person he would have to persuade is himself (well... himself, and potential buyers), but the sporty droptop looks to be about kei-sized, which sadly suggests that it may be too small for American tastes and perhaps not designed with US crash-test standards in mind anyway.