2003 Honda Civic Si Hatchback 3-door 2.0l 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

2016 Honda Civic is a newly competitive compact [w/video]

It's fair to call the last-generation Honda Civic, built from 2012 to 2015 (with a quick refresher in the middle), a disappointment. It came out using an old compact car formula – going cheap and lightly equipped – at almost the exact moment its competitors embraced high technology and refined, expressive designs. We spent some time today with the vehicle meant to correct this mistake, the all-new, tenth-generation Civic. Easily the most discussed thing about the new Civic is its handsome new sheet metal, which we actually showed you last week. The expressive profile, with strong arches over the front wheels and a handsome, almost fastback-like roofline is a major departure from the duller, three-box look of the current Civic. The front fascia's highlight is the prominent chrome grille, backed by the optional LED headlights. In back, that tiny decklid is outshined – no pun intended – by a set of LED taillights that should present a very impressive look at night. The overall balance of the design is impressive. The ninth-generation Civic was widely panned for its crummy interior quality. Designed at a time of global financial crisis, Honda opted for more affordable materials that lacked the soft-touch goodness of many competitors. The new Civic addresses this shortcoming, fitting not only more impressive plastics, but the technology to back them up. From the EX trim on up, the instrument cluster's focal point is a large TFT display, flanked by a pair of traditional gauges. Yep, that's right. Honda is getting rid of the Civic's multi-tiered dash, and we couldn't be happier. On the center console, there's a seven-inch touchscreen display that uses the same Android-based operating system as the new Pilot. And speaking of Android, the Civic will play nice with both Android Auto and Apple CarPlay. As for the actual driving experience, we can't tell you much about it for another couple weeks, but we can talk briefly about the seats. The hip point has been dropped by a full inch in front, and has the effect of creating a sport-driving-ready seating position. Those seats are comfortable, too, although we'll need more than the few minutes we got with the new Civic to make an informed judgment. We don't, however, need any extra time to talk about the backseats. That plunging roofline is not conducive to rear headroom, a fact that overshadows the extra two inches of rear legroom. You're probably wondering when we'll talk about the powertrains.

U.S. issues new tariff threat, this time against British-built cars

WASHINGTON — Britain is the United States' closest ally but their long friendship may be sorely tested as the two countries try to forge a new trade agreement after Britain's exit from the European Union. U.S. Treasury Secretary Steven Mnuchin said on Saturday in London that he was optimistic that a bilateral deal with Britain could be reached as soon as this year. But Mnuchin gave up no ground after a second meeting with his UK counterpart, Sajid Javid. Javid has insisted that Britain will proceed with a unilateral digital services tax, despite a U.S. threat to levy retaliatory tariffs on British-made autos. Mnuchin told reporters after Saturday's meeting that such taxes would discriminate against big U.S. tech companies like Alphabet Inc's Google, Apple, Facebook and Amazon. The UK Treasury declined to comment on the private meeting. The divide highlights the challenges ahead as the Trump administration seeks a new bilateral agreement with Britain, part of a broader push to rebalance relations with nearly all its major trading partners. The stakes are high — British Prime Minister Boris Johnson has pegged the trade deal with United States as a way to ease the pain of breaking with Europe, Britain's largest trade partner. U.S. President Donald Trump, has promised a "massive" trade deal to support Brexit, the product of a populist movement similar to his "America First" agenda. The goodwill and special relationship the two countries have enjoyed for decades may not count for much, experts say. "Trump is not going to be doing Johnson any favors," said Amanda Sloat, a senior fellow with the Brookings Institution in Washington. "He's not going to give him a trade deal without major concessions." Even before the digital tax issue arose, the Trump administration threatened to tax foreign car imports, which could hit British-made Jaguar, Land Rover, Mini, and Honda Civic hatchback cars. Stiff U.S. trade demands include increased access for U.S. farm goods, concessions that will be difficult for Britain's entrenched natural food culture to swallow. The United States also wants Britain to change the way its National Health Service prices drugs and allow in more U.S. pharmaceuticals, which could prove politically unpopular for Johnson's government. Washington's demand that London block Chinese telecoms equipment maker Huawei Technologies Co Ltd for national security reasons could also cloud talks.