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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

New 2022 Acura MDX platform to underpin future Hondas

The 2022 Acura MDX introduces a new platform to the Acura and Honda lineup called the Global Light Truck Platform, and it's currently exclusive to the MDX. The new 2021 Acura TLX is also built on a totally new platform that isn’t shared with any other Honda or Acura. Going further back, when the redesigned 2019 RDX debuted, Acura said that model was built on “a new-from-the-ground-up, Acura-exclusive platform." ThatÂ’s three totally-new and Acura-exclusive platforms in a short time period, and it got us thinking. What is Acura up to here?  Most manufacturers these days are increasingly going in the exact opposite direction. VolkswagenÂ’s MQB architecture underpins everything from the hot hatch GTI to the gigantic Atlas. ToyotaÂ’s TNGA platform has multiple sizes/versions, but Toyota still considers them related and will tell you that TNGA is the basis of cars from the Corolla on up to the Highlander, plus the Lexus UX and ES. You can find similar stories all across the industry, in both luxury and non-luxury brands. Acura, on the other hand, appears to be taking a totally different approach. To get some clarity on strategy, we reached out to Acura. The answers are multifaceted, but Acura says it's spending money where it pays dividends for performance — but there's also more sharing between models than it might look like on the surface. “The definition of what constitutes a 'common platform' varies by automaker,” Acura exclusively told Autoblog during a wide-ranging e-mail interview involving the input of numerous engineers and product planners. “For us, the most fundamental value is to maintain the same carry points throughout production and enable us to produce different vehicles in the same manufacturing environment.” As an example, the TLX and RDX feature similar carry points in the chassis to enable their production on the same line, but thatÂ’s where the two diverge. “The TLX is different in that it has a bespoke platform that is not shared with any other Acura or Honda vehicle,” Acura says.

Acura may go all AWD in bid to mimic Subaru's success

Acura's struggles have been well publicized. The Honda-owned luxury brand doesn't seem sure of where it's going or what it's trying to accomplish, with its cars and marketing lacking a coherent theme. Now, a new report from Automotive News claims that the brand could follow the success of Subaru and (to a lesser extent) Audi, and adopt all-wheel-drive as standard across its model range.
"I think that's the way we should go," Acura boss Koichi Fukuo told Automotive News.
Acura already offers some form of all-wheel drive on every vehicle in its line aside from the lamentable ILX sedan. That could change as Acura begins rolling out next-generation versions of its still relatively new stable of sedans and crossovers.