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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 Acura NSX production launches in April

After a decade of waiting and a few false starts, the new Acura NSX will finally start rolling out of its Marysville, OH, factory in late April. Customer deliveries won't be too far behind. We can't wait to hear whether buyers find the supercar as fast and comfortable as we did during the First Drive. Trial production is already underway at the NSX's bespoke factory called the Performance Manufacturing Center. The plant is specifically for production of low-volume vehicles with cutting-edge tech. The site employs 100 people to construct, paint, and check the quality of the new supercar, and they need 14 hours to build each one. Robots take care of some of the more intricate tasks like MIG welding the space frame. View 6 Photos It also takes workers six hours to build each NSX's 3.5-liter V6 by hand at the nearby engine plant in Anna, OH. They machine balance every one and run the powerplant through a 150-mile break-in procedure. While the supercar isn't at dealers yet, you can already build your own 2017 NSX online. Prices start at $157,800 (after $1,800 for destination), but the first examples only come with carbon-ceramic brakes, which add at least $9,900 to the price. When Autoblog editors optioned them out, the cheapest we managed was $172,700. Related Video: ACURA ANNOUNCES PLANS FOR START OF SERIAL PRODUCTION OF THE 2017 ACURA NSX Performance Manufacturing Center is exclusive global production home for Acura NSX with serial production to begin late April World-class facility boasts quality, craftsmanship and technological innovation Mar 17, 2016 - MARYSVILLE, Ohio -- Acura today announced that the all-new Performance Manufacturing Center will begin serial production of the next-generation Acura NSX supercar in late April, with customer deliveries to commence thereafter. The new Performance Manufacturing Center (PMC) is the exclusive global manufacturing facility for the all-new Acura NSX supercar and is structured around an innovative blend of people and technology. Combining human craftsmanship and technological innovation, the PMC utilizes new approaches to vehicle construction, paint, assembly and quality confirmation to deliver on the Acura brand DNA of Precision Crafted Performance.

Why the 2015 Detroit Auto Show will be the best since The Crisis

The Detroit Auto Show clearly has its swagger back, and the 2015 edition will be a veritable feast for the enthusiast senses. We're talking serious performance, and it will be exhibited in a variety of forms. Sports cars. Supercars. Muscle-bound luxury cars. They're all set for splashy debuts in January in the Motor City. It's another signpost that companies have recovered from the global economic crisis that gripped the industry from 2008-09. For a while, automakers played it safe at Detroit and other shows. Environmentally friendly cars were important, especially for General Motors and Chrysler that were living on loans from Uncle Sam. Ford, Toyota and other companies generally focused on their best-selling or core models. With a few notable exceptions, recent auto shows have been a bit more buttoned-down than in the past. Boring probably isn't the right word, but austerity has been reality. That's changing. Car companies are making money. Sales are up. Aside from the many nagging recalls – and they are notable – the industry now has the time and energy to make performance cars a priority. That will be offered in hard evidence in Detroit. A year from now when we look back at this auto show, we'll sum it up with one word: Horsepower. But make no mistake, this isn't frivolous. Sports and luxury cars are expensive. They're profitable. They boost images and highlight strengths. With that in mind, here are five significant performance-oriented reveals to watch for when the show kicks off in less than two weeks. 2016 Acura NSX Acura's reborn NSX is a strong bet to earn plenty of votes for our Editors' Choice awards. It's one of the most anticipated – and strung-out – reveals of the year. Think back: we actually saw an NSX concept at the 2012 Detroit show, and Acura has spent the last three years teasing the car in a variety of ways. The slow burn, however, means we know a lot about the NSX. It's will use a mid-mounted twin-turbo hybrid powertrain and run with all-wheel drive. It will also wear an innovative zirconium e-coat paint, a new paint process that Honda says is more environmentally friendly. Honda has also said it will build the new NSX in Ohio, where a large part of the car's development work has been done. The original NSX was produced from 1990-2005 and helped establish Acura's performance credentials in the United States. It was a landmark car and a shot across the bow of Ferrari, Lamborghini and others.