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Honda, Mercedes top KBB brand image awards [w/video]

Kelley Blue Book has announced the winners of its 2014 Brand Image Awards, which look at brands with "attributes that capture the attention and enthusiasm" of customers in the market for a new car.
The award is divided up into luxury brands and everyone else non-luxury brands, with a number of sub-awards in each group. There's also a single award for truck brands. Taking the crown for the best everyman brand (for the second year in a row) is Honda, while Mercedes-Benz was the king of the luxury brackets. Ford, meanwhile, had the best image among pickup buyers.
Honda was also named the most trusted brand among shoppers, while Kia, GMC, Mini and Chevrolet also snagged awards for value, refinement, performance and styling, respectively. Secondary winners in the luxury ranks include Lexus, Buick, Porsche and Jaguar. Mercedes was also named the most refined luxury brand.

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 withdraws LMP2 prototype from Pikes Peak

Things don't always go as planned, especially when it comes to racing. That's the lesson that Honda had to learn the hard way at Pikes Peak this year. Unfortunately that means that the ARX-04b LMP2 prototype won't be running up the mountain in this weekend's Race to the Clouds. Honda was slated to run its new LMP2 prototype at Pikes Peak, but a series of misfortunes meant that the entry had to be withdrawn. The prototype was set back with a series of mechanical difficulties, chief among them a turbocharger failure that inflicted damage on the vehicle's engine. That left Honda with little choice but to withdraw the entry. "We some had some problems that forced us to miss practice on Tuesday and Wednesday," Honda spokesman Eric Mauk confirmed in correspondence with Autoblog. Given that Justin Wilson – despite his extensive experience particularly in open wheels – is considered a rookie at this event, "race rules state that he must practice all three sections of the race course before the race. With just two days of practice left (you can only practice one section a day due to time constraints), we could not do that, so we had to withdraw." It's an unfortunate turn of events for Honda and Wilson, to be sure, but the manufacturer will still be entering a number of other vehicles at Pikes Peak this weekend. Included among them are the electric CR-Z prototype, and the NSX that is serving as pace car for the event. All told, Honda is fielding 13 entries in 11 different classes.