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Honda reports $1.9 billion profit in first quarter despite sales lag at home

Ford, General Motors and Chrysler have been living in a world of sunshine and buttercups after their April-through-June financials hit the newswire, and Toyota is doing pretty good as well. Honda? Not so much.
While Japan's third-largest manufacturer saw $1.9 billion in profits, the 5.1-percent jump was lower than expected thanks to a drop in its home-market sales. US sales also took a sting, as Honda hasn't been able to match the SUV and truck demand that are currently permeating the American market, despite an uptick in Accord sales.
Honda's initial forecasts targeted a take of 209.3 billion yen ($2.1 billion at today's rates), and while a $200 million shortfall is nothing to sniff at, we'd hardly take this as Honda being in trouble. And even with the dip, Honda hasn't adjusted its forecast for the fiscal year, which remains at 780 billion yen ($7.9 billion).

New Honda Fit ousts Toyota Prius as Japan's top-selling car last month

The Toyota Camry may lose its title as the best-selling car in the US next year and the Honda Civic has already managed to outsell the Toyota Corolla to become the top-selling compact in the US, but it looks like the domination woes have just hit Toyota on its own turf. Bloomberg reports that the all-new Honda Fit carries the distinction of being the best-selling car in Japan for October - the Fit's first full month on sale - outselling the popular Toyota Prius and Toyota Aqua (our Toyota Prius C).
Unlike the Camry's 16-year reign on US car sales, Japan's race seems a little tighter with the Fit most recently topping the sales charts in May 2011. Since then, though, the two Toyota hybrids have been the top two cars in for sale in Japan. The US won't get the next-gen Fit until the third quarter of 2014, but this new hatchback should be another solid option for buyers in the increasingly popular subcompact segment.

F1 champ Fernando Alonso geared up for rookie run at Indy

NEW YORK - Twice Formula One world champion Fernando Alonso surprised himself with his qualifying success for Sunday's Indianapolis 500, but the Spaniard knows his biggest challenge will come on race day. Alonso, racing on an oval for the first time, averaged more than 230 miles per hour (370 kph) to qualify fifth fastest for a place in the second row in the 33-car field at Indianapolis Motor Speedway. "I was a bit surprised," Alonso, 35, told Reuters on Tuesday. "When we announced to come here one month ago, we did it without knowing how competitive we could be, if I was able to adapt to oval racing, to these cars." "I still lack experience in important moments of the race. I will try to compensate with the speed, with motivation and we will see what happens." A lack of experience may cost him on the biggest day of US racing when a champion will be crowned after 200 laps of the massive 2.5-mile oval, but Alonso is geared up for the chance. "You respect the place, respect the speed. You respect your colleagues out there, but at the end of the day, when you are in your car and close the visor, you would like to have one mile per hour more. It's never enough," he said. While Alonso passed the entrance exam with flying colors in qualifying, he knows the hardest test is to come. "The biggest challenge I will face is in the race when you are running in traffic, those groups of cars that form in the race. It changes completely the behavior of the car. "You feel the car very loose... we've been practicing that with the team, trying to create our own groups because we are six cars," Alonso said. "I still lack experience in important moments of the race. I will try to compensate with the speed, with motivation and we will see what happens." GUESSING GAMES Alonso said timing his moves may be a guessing game. "Taking the opportunity to overtake and to pass will be a difficult decision to make," he said. "There are many factors you need to address while you are driving 230 miles per hour. "You have to stay calm, be ready for the last one-third of the race. That is where it comes." Alonso said the race demands a balance between pushing the limit and not crossing the line into recklessness. "With no experience, for me you're not sure sometimes where you are with that line - if you are over the limits of the car, or over the limits of running with the traffic.