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'Trouble-free day! No joke': Honda-powered Toro Rosso F1 car debuts

LONDON — Honda's Formula One partnership with the Toro Rosso team got off to a positive start on Wednesday with a seemingly smooth track debut of their new car on a limited mileage filming day in Italy. "Trouble-free day!! No joke," commented French driver Pierre Gasly on Twitter. New Zealander Brendon Hartley, who was at the wheel of the TR13 car at the wet Misano circuit, reported on Instagram that "the new girl ran super smooth." This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Honda is starting over with the Red Bull-owned team this season after three seasons of failure with former champions McLaren left the Japanese engine manufacturer's reputation in tatters. A behind-the-scenes documentary, "Grand Prix Driver," released on Amazon recently shone a spotlight on the tension between McLaren and Honda that eventually led to the relationship tearing apart. It also revealed how the troubles had started before the launch of the car and were fully exposed once testing in Barcelona started when the car broke down repeatedly due to engine failures. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. McLaren, who finished ninth out of the 10 teams last season, is now using Renault engines and hoping to be far more competitive. How Toro Rosso, and McLaren, fare this season will be among the intriguing sub-plots to the 21-race season that starts in Australia on March 25, with Mercedes and Ferrari again expected to be the frontrunners. Italy-based Toro Rosso, one of the smaller outfits on the starting grid, has taken the cynicism and gloom-mongering about its prospects in good heart. It put out a tongue-in-cheek Q&A at the time of the first engine fire-up that included the questions: "Did it take like six attempts to fire up?", "Did the engine blow up?" and "Did your factory catch fire after the engine started?" The respective answers were "Nope, the engine fired up on the first attempt," "Quite the opposite, it started just as planned" and "Our factory is perfectly fine, thanks for the concern." The final 'question' was simply, "Good luck, you'll need it." Reporting by Alan BaldwinRelated Video: Motorsports Honda McLaren Racing Vehicles F1 toro rosso

China's largest dealer body pushes back against foreign automakers over huge inventories

Do not think for a second that automakers forcing inventory on dealers in order to pad the numbers is a ruse known only in the US. Stories of individual brands have hinted at the trouble Chinese dealerships are having trying to move units as the country's economic growth remains hot but comes off the boil, like the one revealing that 95 percent of Toyota-FAW showrooms are losing money. Yet Toyota isn't the only culprit, and the issue has become so dire that the China Automobile Dealers Association (CADA), the largest dealer body in the country, has written to the government to complain. Chinese car sales are expected to close out the year with an annualized growth of six-percent, down from last year's 14 percent when targets were set, while in the background the pace of overall economic expansion is the slowest its been since the early nineties. Automakers, shipping cars on schedule to make their earlier targets, have blown up inventories such that they are an average of 1.8 times monthly sales, when the preferred multiplier is from 0.9 to 1.2. According to the CADA, the price wars and necessary incentives mean that only 30 percent of dealers are operating in the black. That number is down a whopping forty percent since 2010. In response, Toyota has already said it will not make its 2014 target of 1.1 million cars sold. We're a long way from 2012, when Toyota planned on selling 1.8 million cars in China in 2015, a target that's now as realistic as a manticore. BMW, Honda and Nissan have erased numbers on their spreadsheets, too; BMW growth dropped from 20 percent to 8 percent midyear after it began "reducing wholesale supplies," and Honda has been reworking its plans as sales have decreased each of the past six months. It's a big deal for Chinese dealers to begin protesting publicly, the CADA saying, "In the past, dealers were angry, but dared not speak out. But now, they have to shout because the situation is getting so unbearable." With six-percent growth forecast for next year and dealers unwilling to remain underwater, The Year of the Sheep coming in 2015 could portend meaning beyond the zodiac. News Source: ReutersImage Credit: AP Photo/Andy Wong BMW Honda Nissan Toyota Car Buying Car Dealers

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).