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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

Watch a motorcycle racer nearly rub the wall at Macau's track

Motorcycle racer John McGuinness is no stranger to dangerous racetracks, having scored multiple victories in the frequently deadly Isle of Man TT. In this video, he trades the Snaefell Mountain Course's winding roads for the incredibly tight confines of the Macau Grand Prix circuit. The track is like China's version of the Circuit de Monaco, and it looks barely wide enough for two bikes to fit at some points in this clip. The claustrophobic layout makes the street track famously difficult for racing and occasionally deadly. McGuinness gives viewers a great tour of the track on his Honda Fireblade, and he frequently has his shoulders nearly grazing against the wall. You really get a sense of just how narrow the course gets. The ride looks both terrifying and very fun. If you want to see more of McGuinness' skill, here's a clip of him riding at Le Mans at night. We look forward to watching him at the Isle of Man again this year, too. McGuinness not only set a new electric bike lap record there in 2015 but also won the SES TT Zero Challenge. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

NSX, S660, and a 4-motor CR-Z EV that goes like hell

AutoblogGreen Editor-in-Chief Sebastian Blanco was my road dog while visiting Honda's R&D center in Tochigi. Over the course of a long day of briefings, driving demonstrations, and a variety of strange-flavored candies, we saw quite a lot of what the company is planning for the next generation and beyond. Of course, Sebastian and I see the world through very different eyes. So, while he was busy getting details about the FCV Clarity successor, and asking tough questions about electrification (in other words, the important stuff), I was fixating on a tiny, two-seat sports car that will never come to America. Oh, there was an NSX, too. Honda's pre-Tokyo Motor Show meeting really did have plenty to offer for all kinds of auto enthusiasts, be they focused on fast driving or environmentally friendly powertrains. Seb's attendance let me focus on the stuff that's great for the former, while he wrote up high points of the latter. View 15 Photos S660 I joke about salivating over the S660, but honestly I was at least as excited to take a few laps in Honda's Beat encore, as I was to sample the Acura supercar. Conditions for the test drive weren't ideal, however. Two laps of a four-kilometer banked oval is not exactly nirvana for a 1,800-pound, 63-horsepower roadster. Still, I folded all six feet and five inches of my body behind the tiny wheel determined to wring it out. The immersion of the driving experience was enough to make it feel fast, at least. I shifted up just before redline in first gear with the last quarter of the pit lane rollout lane still in front of me. The 658cc inline-three buzzed like a mad thing behind my ear, vastly more stirring than you'd expect while traveling about 30 miles per hour. The S660 is limited to just around 87 mph, but the immersion of the driving experience (note: I was over the windscreen from the forehead up) was enough to make it feel fast, at least. Even after just a few laps, and precious little steering, I could tell that everything I grew up loving about Honda was in play here. The six-speed manual offered tight, quick throws, the engine seemed happiest over 5,000 rpm, and the car moved over the earth with direct action and a feeling of lightness. Sure proof that you don't need high performance – the S600 runs to 60 mph in about 13 seconds – to build a driver's car. I could have used 200 miles more, and some mountain roads, to really enjoy the roadster (though I would have wanted a hat).