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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

NHTSA opens safety investigations into Toyota, GM and Honda crossovers

The National Highway Traffic Safety Administration is evidently keeping itself very busy these days, as the federal agency has just announced it is launching or renewing investigations into Toyota, Honda and General Motors crossovers.
2006-2008 model year Toyota RAV4 crossovers are under review for allegations of rear tie-rod rust which can result in failure. NHTSA also said it is probing some 35 complaints about 2005 Honda Pilot models with inappropriate activation of the vehicles' stability control system. The alleged malfunction can cause the vehicles to slow down or stop in bad unsafe situations. At the moment, NHTSA is reviewing a petition regarding the Pilot issue, a move that will determine whether it needs to open a full-blown investigation.
In addition, Saturn Outlook and GMC Acadia three-row crossovers built in 2007-2009 are getting looked at for "loss of low beam headlamp" function. One complainant said the wiring in his Outlook overheated and melted. NHTSA says it has received 415 complaints about the problem and a GM spokesman confirmed that the automaker already started a "Customer Satisfaction Program" in December to address the issue.

2016 Honda Pilot First Drive [w/video]

For all it had going for it, the second-generation Honda Pilot was stung by one undeniable fact: it looked like a big, boxy SUV at a time when consumer favor was shifting towards car-based crossovers. For 2016, though, Honda is offering a third-generation Pilot that not only does away with the old model's brutalist looks, but also adopts bleeding-edge safety technology and fuel-efficient powertrains. The Pilot's new styling still doesn't really work, to our eyes. That's not because of the CR-V-inspired headlights or Accord-derived grille. It's not even because of the horizontally oriented, reshaped taillights. The biggest problem with the Pilot is its profile. The hood is an inch lower for 2016, and the CUV is 3.5 inches longer than its predecessor with an extra inch ahead of the front axle. Simply put, the proportions are out of whack. The hood is too short, the passenger compartment too large, and the beltline too low. It's little wonder then that both Autoblog staffers and readers have pointed out the 2016 Pilot's minivan-like resemblance. Changes underneath the Pilot's sheetmetal are just as drastic. Honda incorporated a mix of high-strength steel, aluminum, and even magnesium to create the CUV's new bones. Taken as a whole, our top-of-the-line Elite tester is 286 pounds lighter than the previous model, while being 25 percent more rigid overall. Aside from some penny pinching in the cabin – the hard plastic on the top of the rear door panels is particularly egregious – the Pilot's interior is home to soft-touch plastics, quality leather, and handsome piano black accents. Front passengers are treated to broad, comfortable, power seats, complete with heating and ventilation (depending on trim). What they lack in outright support through the turns, they make up for in long-haul comfort. Honda will continue to sell the Pilot with seating for eight, but for the very first time, it's also offering a pair of captain's chairs in place of the second-row bench. Either setup is comfortable, though the seven-passenger layout allows easier access to the third row. As for the way-back, it can accommodate two kids or two adults in a pinch, but we aren't sure how Honda thinks three humans of any size will fit back there. Happily, Honda ditched the two-screen center stack setup found elsewhere in its model range. The Pilot's ample eight-inch display (standard on the Touring and Elite trims) has menus that are easy to manage.