1990 Honda Crx Si on 2040-cars

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Here's how wildly expensive it is to participate in F1

The cost of competing in Formula One racing is extremely high. Not in the physical and lifestyle sense, although that too takes a major toll on each team and driver, but in a literal hand-over-the-cash sense. Each F1 team pays hundreds of thousands of dollars to enter, plus a fee for every single point the team earned in the previous season. Motorsport.com recently detailed just how absurdly pricey entering the F1 field is. According to the piece, the price of entry goes up each year due to the U.S. Consumer Price Index. For 2019, the entry fee is $546,133, and it doesn't stop there. There are additional dues required of each team based on where the team finished in the previous season. Interestingly, the winners pay more. For example, Mercedes-Benz, the constructor champion for the past five years, must pay $6,553 per point it scored in 2018. With 655 points scored, that's $4,292,215. All other teams must pay $5,459 per point. For a full rundown of what the teams will be paying for 2019, check out the full article here.Related Video:

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

Florida woman says Takata airbag deployment left her paralyzed

A malfunctioning Takata airbag left a Florida woman paralyzed from the neck down following an otherwise minor car accident last year, a lawsuit filed last week alleges. Patricia Mincey says in court documents that, instead of deploying normally, the driver-side airbag in her 2001 Honda Civic deployed with such force that it injured her neck and rendered her a quadriplegic. The lawsuit accuses Takata and Honda of deliberately concealing information about the defect and taking belated action to protect Mincey and other motorists from airbags that may harm them instead of saving their lives. At least five deaths and 139 injuries have been linked to the flawed airbags in Honda vehicles. "There is a systemic failure of these companies to come clean with information they know very early on of problems," Ted Leopold, Mincey's attorney, tells Autoblog. "Instead of doing the right thing, they try to sweep the problems under the rug until there are so many deaths and injuries they're left with no choice. We saw it with General Motors ignition switches, we saw it with the Toyota unintended acceleration cases and now we see it here." Long History Of Takata-Related Recalls Four days after Mincey's accident, Honda recalled her car as part of a 5,394,000-vehicle recall that sought to repair vehicles in which the airbag inflators could rupture. Her accident took place in Jacksonville, Florida, a state in which manufacturers have said high humidity could cause a heightened risk of problems for Takata airbags. She was wearing her seat belt at the time of the crash, according to court documents, and her car was traveling approximately 22 miles per hour. Mincey remains hospitalized in a long-term care and rehabilitation facility near her Florida home, her attorney said. She is seeking compensation in excess of $15,000 for her injuries and punitive damages. Problems with the Takata airbags were discovered as early as 2001, when Isuzu issued the first recall related to high-pressure deployments. But the company continued to manufacture defective airbags, which have subsequently been flagged in dozens of recalls over the past 14 years. Approximately 21 million vehicles have been affected in the United States. Congress conducted hearings on the companies' delayed responses to the safety crisis last year.