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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

MotorWeek remembers the 1993 Acura Legend coupe

When discussing classic Acura models, the Legend, particularly as a two-door, doesn't get brought up nearly as often as the Integra or NSX. Perhaps that's because those sporty models were brash for their time, whereas this bigger car came off as a more conservative ride. For a MotorWeek Retro Review, John Davis and crew have looked back at a 1993 Legend coupe to give us a chance to remember Acura's luxury GT. In 1993, the newly revised 3.2-liter V6 managed 230 horsepower, and this one had power routed through a six-speed manual. It also came packed with luxury features, including automatic climate control and traction control. However, the Legend turned out to be more of a comfy cruiser than an all-out sports coupe for the reviewers. MotorWeek wasn't happy with the performance through the slalom, and the shifter wasn't perfect, either. Still, this clip is a great refresher on a model that's often overlooked. Related Video:

Acura NSX EV puts winner Tetsuya Yamano back on Pikes Peak

With Pikes Peak right around the corner, Acura is showing off more details about its NSX-inspired all-electric racer. The four-motor EV will be driven in the Electric Modified Class by Tetsuya Yamano, who has been testing the car at the Hill Climb for the past few weeks. Acura is also running two NSX hybrids up the hill in the challenge next weekend. So, what's different inside this NSX-like EV? Like the all-electric Honda CR-Z that Yamano drove up Pikes Peak last year – winning the Challenge Exhibition class with a time of 10:23.829 – the NSX-inspired EV uses two Twin Motor Units (TMU) from the company's Sport Hybrid SH-AWD powertrain. Each axle has a TMU and that means that the car, "has achieved independent torque distribution to all four corners – true four-wheel torque vectoring," according to Acura. That sounds nice, but the real test will be out in Colorado in just a few days. Related Video: Acura NSX-Inspired EV Concept Ready to 'Charge Up' Pikes Peak Vehicle Features World's First All-Electric, 4-Motor SH-AWD® Powertrain Jun 20, 2016 TORRANCE, Calif. – Acura will campaign an all-electric, NSX-inspired EV Concept in the Electric Modified Class at the 2016 Broadmoor Pikes Peak International Hill Climb. The Acura EV Concept features a further evolution of the experimental, all-electric, 4-motor Super Handling All-Wheel Drive™ (SH-AWD®) powertrain that won last year's Pikes Peak Challenge Exhibition class. The supercar-inspired Acura EV Concept will be driven by Tetsuya Yamano, who campaigned last year's CR-Z-based electric prototype. The Acura EV Concept is the ultimate embodiment of the all-wheel-drive Electric SH-AWD powertrain featuring a world's first technology that enables four-wheel independent torque allocation. The Acura EV Concept's Electric SH-AWD powertrain produces three times the total system output of last year's electric prototype and is mated to the NSX body. "We've been tuning the car for several weeks at Pikes and have advanced its performance significantly," said Tetsuya Yamano. "We're honored to be running at Pikes in this historical, anniversary year – an event respected by racing fans all over the world." 4-Motor Development Honda R&D has been developing "super handling" technology for more than 20 years in the pursuit of ideal vehicle handling.