2003 Honda Civic Hybrid 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

Honda asking used-car buyers to sign liability document [w/poll]

New cars under recall must be repaired before a dealer can sell them but used cars are under no such mandate.
When it comes to informing the car-buying public about potential safety hazards on used vehicles, there are two emerging schools of thought among used-car dealers.

Honda to dub Fit-based as HR-V for North America

You may remember it as the Urban SUV (pictured above) from when it debuted in concept form at the Detroit Auto Show last year, or know it as the Vezel as the production version was unveiled for the Japanese Domestic Market at the 2014 Tokyo Motor Show. But when Honda starts exporting its new Fit-based crossover - or better yet, building it in Mexico for North American consumption - it will be called the HR-V.
This news comes courtesy of Honda enthusiast forum Temple of VTEC. When contacted by Autoblog, Honda spokesmen declined to comment on the veracity of the report, saying only that it would "announce the name in the near future," but the handle fits with what we know about Honda's history with compact crossovers. The previous HR-V (which was not available in the States) was a high-riding, squared-off crossover built between 1999 and 2006 and based on the Fit's predecessor, the Honda Logo.
While the HR-V moniker might not have name recognition in North America, it would in Europe where Honda also hopes its new crossover will find eager customers. It will also fit in nicely below the CR-V that will continue on as the HR-V's larger stablemate.