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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

Consumer Reports no longer recommends Honda Civic

Consumer Reports annual Car Reliability Survey is out, and yes, there are some big surprises. First and foremost? The venerable publication no longer recommends the Honda Civic. In fact, aside from the walking-dead CR-Z and limited-release Clarity fuel-cell car, the Civic is the only Honda to miss out on CR's prestigious nod. At the opposite end there's a surprise as well – Toyota and Lexus remain the most reliable brands on the market, but Buick cracked the top three. That's up from seventh last year, and the first time for an American brand to stand on the Consumer Reports podium. Mazda's entire lineup earned Recommended checks as well. Consumer Reports dinged the Civic for its "infuriating" touch-screen radio, lack of driver lumbar adjustability, the limited selection of cars on dealer lots fitted with Honda's popular Sensing system, and the company's decision to offer LaneWatch instead of a full-tilt blind-spot monitoring system. Its score? A lowly 58. The Civic isn't the only surprise drop from CR's Recommended ranks. The Audi A3, Ford F-150, Subaru WRX/STI, and Volkswagen Jetta, GTI, and Passat all lost the Consumer Reports' checkmark. On the flipside, a number of popular vehicles graduated to the Recommended ranks, including the BMW X5, Chevrolet Camaro, Corvette, and Cruze, Hyundai Santa Fe, Porsche Macan, and Tesla Model S. Perhaps the biggest surprise is the hilariously recall-prone Ford Escape getting a Recommended check – considering the popularity of Ford's small crossover, this is likely a coup for the brand, as it puts the Escape on a level playing field with the Recommended Toyota RAV4, Honda CR-V, and Nissan Rogue. While Ford is probably happy to see CR promote the Escape, the list wasn't as kind for every brand. For example, of the entire Fiat Chrysler Automobiles catalog, the ancient Chrysler 300 was the only car to score a check – there wasn't a single Dodge, Fiat, Jeep, Maserati, or Ram on the list. That hurts. FCA isn't alone at the low end, either. GMC, Jaguar Land Rover, Mini, and Mitsubishi don't have a vehicle on CR's list between them, while brands like Mercedes-Benz, Volvo, Nissan, Lincoln, Infiniti, and Cadillac only have a few models each. You can check out Consumer Reports entire reliability roundup, even without a subscription, here.

2018 Honda Odyssey bests Pacifica, Sienna in minivan crash, LATCH tests

Honda has a lot to be proud of following the latest round of passenger small-overlap crash testing by the IIHS. The safety organization tested the 2018 Honda Odyssey, 2018 Chrysler Pacifica and 2018 Toyota Sienna, and the Odyssey managed the best rating of "Good." The Pacifica followed behind with an "Acceptable" rating, and the Sienna brought up the rear with just a "Marginal." Both the Pacifica and Sienna lost points because the structure around the passengers collapsed to differing extents, leading to parts of the structure intruding into the passenger compartment. The Pacifica didn't intrude enough to harm passengers, with each injury area still having a Good rating, but the Sienna's structure intruded far enough to potentially harm the leg and foot areas, leading to an Acceptable rating in those specific areas. In addition to the small overlap crash test, the IIHS evaluated all three minivans for LATCH child seat anchor ease of use. Once again, the Odyssey aced the test with a Good+ rating, which is awarded for both ease of use and offering multiple anchor point options. The Pacifica and Sienna swap the crash test ratings, with a Marginal for the Chrysler and an Acceptable for the Sienna. The Odyssey and Pacifica can both brag that they're Top Safety Picks, and they'd get Top Safety Pick+ awards if they weren't hampered by headlights that only get Acceptable ratings. The Toyota Sienna fails to earn the regular Top Safety Pick award because both small overlap tests yielded results that were too low. Only one other minivan tested by IIHS has the Top Safety Pick rating, and that's the Kia Sedona. It earns an Acceptable rating in LATCH usability, and its headlights actually earned a Good rating. It hasn't undergone passenger-side small overlap crash testing yet. If it fares well, it could get bumped up to a Top Safety Pick+ rating. Related Video: Image Credit: IIHS Chrysler Honda Toyota Safety Minivan/Van consumer toyota sienna chrysler pacifica IIHS Top Safety Pick