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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

2017 Honda Ridgeline First Drive

Over the years, the quest to build a better pickup truck has resulted in nothing but failure. Only one basic formula has proven successful: body-on-frame, front-engine, solid rear axle, and an optional transfer case for true four-wheel drive. And it helps to wear an American nameplate. The 2017 Honda Ridgeline is none of those things. Instead, it's a unibody. The engine is up front, but it's mounted transversely since the truck is based on front-wheel-drive architecture. And one look is all it takes to confirm the Ridgeline is not a Ford, Chevy, or Ram. In the face of ever-bolder and blockier competition, the Ridgeline looks, dare we say, aerodynamically sound. It's all based on the rational desire for greater efficiency, comfort, and convenience. In the same way that a car-based crossover is a better choice for most families than a truck-based SUV, the Ridgeline is a better choice for a large swath of pickup buyers. It really is more comfortable, more fuel efficient, roomier, and easier to live with than its primary competitors. Those same things could be said of the old first-gen Honda Ridgeline. But where the 2006 model was terribly unattractive and ambiguously styled, the new 2017 model is at least recognizable as a pickup. Gone are the buttresses of the old truck, replaced by a more traditional bed that is four inches longer than before. That bed is molded from a strong, dent- and scratch-resistant fiber-reinforced plastic material that's UV treated so that it doesn't need paint to keep from fading in the sun. A pair of dirtbikes or a single ATV fit nicely with the tailgate down. There's still a trunk recessed in the rear of the bed, complete with a drain plug so that it can be hosed out or filled with ice to keep drinks cold. Eight tie-downs come standard, each rated to hold up to 350 pounds. A power outlet is nestled behind a hidden door in the bed, but a two-prong design and 400-watt max rating limit its usefulness. Carried over from the first generation is a dual-action tailgate that can fold down or swing open, hinging on the driver's side. A new feature is an in-bed audio system that should prove a hit at tailgate parties. Plug a television into the in-bed outlet, connect to the car's audio system, dump some ice in the trunk, and you're good to go. Check out the innovative tailgate and in-bed audio in our Short Cut videos below. And stick around for the third video to see a load full of rocks dumped in that heavy-duty plastic pickup bed.

One man's love of vintage Honda motorcycles spawns new museum

In 1977, David Silver got a Honda SS50 moped - it was the last year of unrestricted mopeds for riders just 16 years of age in the UK. That two-wheeler made him a fan, and starting his Honda parts business in 1986 made him a part of the Honda family. He started collecting, with the idea that he'd eventually open a museum. During a visit to another amateur collector's trove in Pennsylvania, the Brit got the chance to purchase the 125 bikes the American had gathered, and his museum aspirations hit the fast-forward button. He's in the process of building a proper home for the bikes in Suffolk, it should open later this year. There will be everything from the first Cub F engine that people could attach to bicycles in 1952, to two examples of the CB92 Benly Super Sport that showed how fast and how good a 125cc bike could be, to the first Fireblade that dropped in 1992 - our CBR 900RR, to the original Honda Dream. Honda says it could be one of the finest collections outside the company's museum in Japan. You can watch Silver tell his story in the video above, and there's more on what's he'll have in an article in Honda's Dream magazine. News Source: Honda Video, Dream magazine via YouTube Honda Motorcycle Classics Videos honda cub