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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

2021 Acura TLX revealed, finally looks like a credible luxury sports sedan

We've been given our first official glimpse into the brand-new 2021 Acura TLX sedan, and so far we like what we see. It's clear that Acura wants to be considered a brand that focuses on performance, boosting power with two turbocharged engine options and the return of the Type S variant after a decade-long absence. Acura stuck close to the well-received Type S concept when styling the new TLX, which means the sedan boasts crisp lines, aggressively creased sheetmetal and a low, wide stance. An angular grille is flanked by Acura's Jewel Eye headlights and Chicane LED running lights to create an expressive face, and similarly shaped taillights at the back end finish off a cohesive design. An A-Spec sport package adds darkened elements along with a unique set of 19-inch wheels and a rear spoiler. The 2021 Acura TLX Type S goes several steps past the A-Spec with a so-called Diamond Pentagon grille and larger side air intakes. A front splitter and rear diffuser join the requisite rear spoiler to round out the aero package. Quad exhaust tips and 20-inch wheels are also included as part of the package. But the big news is underhood, with a 3.0-liter turbocharged V6 serving as the headliner. Acura hasn't yet released power figures for the Type S, but promises it will be much more powerful than the outgoing 3.5-liter V6 with "a more than 50-percent increase in low-end torque."   Related: 2021 Acura TLX vs. luxury sedans: How they compare on paper   Standard TLX models will get a new 2.0-liter turbocharged four-cylinder engine that produces 272 horsepower and 280 pound-feet of torque. That's 66 hp and 98 lb-ft more than the previous naturally aspirated 2.4-liter engine, and Acura says there are 123 additional lb-ft at 1,500 rpm. Both engines will send their ponies through a 10-speed automatic transmission. Front-wheel drive is standard, and Acura's fourth-generation torque vectoring Super Handling All-Wheel Drive system will be standard on the Type S and optional on other TLX models. Inside, all TLXs get a tech-rich cabin that features a centrally mounted 10.2-inch display and Acura's latest True Touchpad Interface. A 7-inch digital screen in the gauge cluster is standard, and a 10.5-inch head-up display is optional. Acura's Integrated Dynamics System is controlled via a prominent silver dial, and it now offers a customizable Individual mode.

2016 Acura ILX, for better or worse [UPDATE]

Unfortunately, the slick-shifting six-speed manual transmission has been discontinued. UPDATE: A previous version of this story incorrectly stated that the 2.4-liter engine in the 2016 ILX is the same unit found in the Honda Civic Si. The ILX's new engine is the same direct-injected four-cylinder found in the new TLX. The text has been edited to reflect this. "It's just a badge-engineered Honda Civic." This (uninformed) criticism has been leveled at the Acura ILX since the premium compact arrived on the scene to duke it out with the Buick Verano and, more recently, the Audi A3 and Mercedes-Benz CLA-class. For model year 2016, Acura will attempt to address the car's critics, issuing a major reshuffle of the sedan's lineup along with the typical sheen of a mid-cycle refresh. Following up on the discontinuation of the ILX Hybrid for 2015, Acura is dispatching the antiquated pairing of the base 2.0-liter four-cylinder and five-speed automatic for 2016, and simply slotting in the standard powertrain of the TLX. The 2.4-liter four-cylinder produces 201 horsepower and 180 pound-feet of torque, with peak output arriving at 3,600 rpm. The ILX also benefits from the same eight-speed, dual-clutch transmission found in the TLX. Unfortunately, the slick-shifting six-speed manual transmission we've always enjoyed has been discontinued. Sad trombone, indeed. Powertrain tweaks aside, Acura has issued a pretty handsome freshening for 2016. The ILX was always a handsome offering, but the new front and rear clips are improvements. Acura's love-it-or-hate-it JewelEye headlights have been grafted onto the ILX, while the grille, a traditional weak point for the brand, is perhaps one of the best we've seen out of the company in several years. The rear taillights also received some attention, although it was the back bumper that saw the biggest update, with the lower section getting a sportier look. Acura will also add a new A-Spec package for 2016, which replaces the standard 17-inch wheels with 18s, adds "Euro-style" stitching to the steering wheel and adds black Lux Suede inserts to the seats, along with a flurry of smaller aesthetic tweaks. The A-Spec can be added alongside the existing Premium and Technology Packs. Acura hasn't released any interior images as of this writing, although we'll be sure to snap a few following today's debut conference at the 2014 Los Angeles Auto Show. Until then, scroll down for the official press release from Acura.