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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 accused of not reporting all airbag problems

The Takata airbag recall that has afflicted a number of automakers may have just taken a very bad turn for Honda, which has already recalled over one million vehicles. Clarence Ditlow and the Center for Auto Safety have accused the Japanese manufacturer of failing to report two "injury-and-death" incidents. To determine just what happened, the company has initiated a third-party audit.
According to Bloomberg, CAS claims Honda failed to report fatalities in 2009 and 2013, a point Honda doesn't seem to contest, indicating that it didn't report so-called "verbal claims."
"It is our understanding that some manufacturers choose to include these types of verbal claims, and that these constitute the majority of the injury-and-death claims that they report to the National Highway Traffic Safety Administration," the company told Bloomberg via email. "We believe this practice accounts for the vast majority of the difference between the total number of injury-and-death claims reported by Honda compared to certain other manufacturers."

There was once a Honda Civic named the Honda Integra

So it turns out there was a Honda Integra that was actually a Honda Civic. This as opposed to the Honda Integra we already knew about that was just like our Acura Integra but with Honda badges sold in different markets. We noticed the oddity while crawling about used car listings (as one is wont to do). A sedan popped up that looked suspiciously like a mid-90s Honda Civic, but there was a shiny Integra badge on the back of it. Surely, this must be somebody’s idea of being funny, right? Wrong. The Honda Integra SJ exists, and itÂ’s essentially a rebadged Honda Civic Ferio. Or "Civic Sedan" as we knew it here. In other words, that means Honda sold two Honda Integras at the same time. One of them was the Integra that we all think of upon hearing the Integra name. The other was just a Civic Ferio that was half-prettied up to increase its appeal. After all, the Integra name was luxury. Maybe you already knew all of this, but the lack of definitive information online and presence of this car for sale prompted us to do a little research. In case you were wondering, SJ stands for Sedan Joyful, so this carÂ’s full name is the Honda Integra Sedan Joyful. It was sold as such from 1996-2001 in Japan. Its mini Wikipedia entry indicates that Honda created the SJ to bring a formal sedan to the Integra range. ThatÂ’s a bit weird, though, as there was literally an Integra four-sedan at the time. You could even get it as the hot GS-R version in the United States. Japanese buyers were even luckier, as Honda offered a sedan version of the Integra Type R there. Since the Integra SJ was a rebadged Civic Ferio, it came with the same equipment and engine. The 1.5-liter D15B four-cylinder engine was being used in the Ferio at this time, so thatÂ’s what the Integra SJ was rocking. ItÂ’s one of HondaÂ’s SOHC VTEC offerings, and it made a very respectable 128 horsepower. The D15B wasnÂ’t as potent as an engine like the B16A2 found in the 1999-2000 Honda Civic Si sold here that put out 160 horses, but it was also down one camshaft. Only the intake valves are affected by the cam here, which results in less power than the DOHC VTEC engines. All that said, the engine still revved to 7,200 rpm, and its power is respectable for the size of car.  ThereÂ’s a third name for the Civic Ferio/Integra SJ, as well. If you go to Thailand, you may come across the Isuzu Vertex, which is yet another rebadged Civic Ferio.