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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

Why Honda of America won't fit 2014 Fit models with start/stop

One of the most recent yet notable additions to the modern vehicle's growing suite of fuel-saving technologies is the humble start-stop system. It's rather simple - when the vehicle is stopped, the engine shuts off. It then fires back up when the driver starts to take his foot off the brake or step on the clutch. For one of the most important fuel sippers of the year, though, start-stop tech is a no-go.
Honda will not be offering the system on the North American-spec, non-hybrid Fit despite it being a standard item on both the hybrid (pictured above) and gas-only Japanese domestic models. According to Honda, it's ostensibly due to the momentary lag, that occurs when the gas engine re-fires and power is available. The start-stop-equipped Fits "will lose at stoplights to V6s," Nobuhiko Shishido, the lead powertrain engineer for the Fit, told Automotive News. This is just an observation on our part, but unless the new Fit turns up with dramatically more than the current car's 117 horsepower, it'll "lose at stoplights" regardless of whatever fuel-saving features are fitted.
The other issue Honda sees is more realistic. In the world of the EPA, stop-start systems are not taken into account in fuel economy testing. That makes the cost-adding technology a tough sell for US consumers who are forced to take a dealer's word on real-world economy gains over the milage numbers on the window sticker. That said, wouldn't it at least make sense to offer start-stop as an option? Have your say in the Comments below.

Are you the 2014 Honda Fit?

Despite being the oldest model in North America's subcompact sweepstakes, the current Honda Fit remains a paragon in its segment, offering unparalleled packaging, good road manners and robust reliability. In fact, even with far more modern competitors like the Chevrolet Sonic, Ford Fiesta, Hyundai Accent and Nissan Versa Note on the scene, it may well still be the best of the bunch.
All of which explains why we're so nervous about the next-generation model, shown in these apparently leaked stock shots scanned from an in-country magazine (no, that rear end really isn't that wonky, it's the page curl distorting the image).
Will the next Fit retain the current car's incredible seating flexibility? Will it still offer a sweet-shifting manual transmission and a four-cylinder seemingly happy to bounce off its rev limiter all the livelong day? We won't know until we try it, but if these shots are representative of what we can expect in North America, it certainly will look very different. While the same two-box shape with roughly the same greenhouse remains, the front end looks much more aggressive than before, with squinty-eyed headlamps blending into a Civic-like grille, all sitting over a lower fascia with unusually oversized air intakes. The profile view is dominated by the front quarterlight and a new sharply rising character line that originates in the front fenders and terminates in the headlamps.