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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

Acura heading to SEMA with... a '93 Legend?

Acura is gearing up for SEMA this year, and it'll be showing a 1993 Legend, the second-generation version of the sedan that had launched the brand in the first place. You read that right. The vehicle just happens to belong to one Christopher Bridges, better known to some as Ludacris and to others as Tej from the Fast and Furious movies. The Legend is the rapper-turned-actor's cherished possession, having appeared on the cover of his ninth studio album Ludaversal. It was involved in a collision recently, but is being painstakingly repaired, restored, and modified by Acura and will be on display at the Vegas tuner expo. Of course that's not all that Honda's premium division has in store for the show. It's also teaming up again with Galpin Auto Sports to customize a TLX and an ILX – the latter inspired by the aforementioned Ludacris project. Galpin may be better known for working on Fords, but did a custom TLX for last year's SEMA show as well. Joining the Legend and the Galpin customs will be a new NSX and an ILX fitted with several factory-backed accessories. Acura to Showcase Legendary Performance Heritage and Personalization at 2015 SEMA Show Oct 12, 2015 - TORRANCE, Calif. - Acura to unveil rapper, actor Ludacris' custom-restored 1993 Legend - Highly modified 2016 ILX by Galpin Auto Sports will also debut at SEMA during the Acura press conference on Nov. 3 Acura's 2015 SEMA showcase will be highlighted by a custom-restored 1993 Acura Legend sedan owned by actor and rap artist Ludacris. Stepping up its game from the 2014 SEMA Show – where the performance-oriented Galpin Auto Sports Acura TLX was unveiled – the luxury brand will also feature a wide variety of vehicles showcasing its performance heritage and its products' customization potential at the 2015 SEMA Show in Las Vegas. Following a collision that severely damaged Ludacris' cherished 1993 Legend, Team Acura set about to artfully restore and modify the vehicle under the guidance of Acura Design Studio in Los Angeles and under the watchful eye of Acura Global Creative Director, Dave Marek. Fans can follow the build progress leading up to SEMA on Acura (@Acura) and Ludacris' (@Ludacris) social media channels and by using the hashtag #LegendaryDuo. "Working with a real car guy and a passionate Acura owner like Ludacris has made the processes of bringing his Legend back to its original glory a fun and unique experience," said Marek.

Honda to recall 1.1 million U.S. vehicles to re-replace Takata airbags

Honda said on Tuesday it would recall about 1.1 million Honda and Acura vehicles in the United States to re-replace defective Takata airbags on the driver's side. The company said it was aware of one injury linked to the defect that may have caused the airbag to rupture when it was deployed in a crash. The vehicles involved in the recall were previously repaired using specific Takata desiccated replacement inflators (PSDI-5D) or entire replacement airbag modules containing these inflators. "Those replacement inflators," Honda said in a statement, "are now deemed defective." Free repairs of the recalled cars would begin immediately in the United States with replacement parts made by alternate suppliers, Honda said. Honda became aware of the issue after a Honda Odyssey crash, where the front airbag deployed and injured the driver's arm. An investigation later showed that manufacturing issues at Takata's Mexico facility introduced excessive moisture into the inflator during assembly, leading to the problem. The total number of recalled inflators is now about 21 million in about 12.9 million Honda and Acura vehicles that have been subject to recall for replacing Takata front airbag inflators in the United States, the company said. Automakers in the United States repaired more than 7.2 million defective Takata air bag inflators in 2018, as companies have ramped up efforts to track down parts in need of replacement. Recalls Acura Honda