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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

NHTSA gives okay for three automakers to skirt tire-related recalls

BMW, Honda, and Mercedes-Benz are all going to avoid small recalls, after the National Highway Traffic Safety Administration issued petitions for "findings of inconsequential noncompliance" to the three manufacturers, according to Tire Business. Basically, the petitions allow the brands to avoid recalls for some very, very minor issues.
BMW had tire placards on 364 X6 M CUVs that stated the car could only handle four passengers, when in reality it had room for three in the back. Actual plausibility of fitting three real humans in the slope-roofed Bimmer aside, the Munich-based manufacturer argued it was inconsequential, as the placards were correct regardless of the number of passengers.
Honda's case focused on 212 2011 and 2012 Acura TSX sedans equipped with 18-inch wheels. The TPMS systems on these cars were set for 17-inch wheels, rather than the larger hoops, but even with the lower settings, the tires maintain adequate load capacity.

2017 Acura NSX | 2017 Autoblog Technology of the Year Finalist

Like its iconic predecessor, the second-generation Acura NSX blazes trails. The old NSX proved that you could get reliability and daily use from an exotic car, and subsequently changed the automotive world. Acura's engineers pushed in a new direction for the prodigal successor: technology. And so the new NSX sets a new bar in the way technology is used to achieve speed. The highlight here is the Sport Hybrid SH-AWD system, which supplements the 500-horsepower twin-turbo V6 with three electric motors, making 573 peak ponies. The two front motors each act on a front wheel, doing all kinds of tricks to help the car corner faster, brake harder, and accelerate like the proverbial cannon shot. They help make the NSX more stable at high speed, and let you sneak up on unsuspecting video producers at low speed. Then there's the third motor sandwiched between the engine and nine-speed transmission, which never lets a shift go by without filling in the milliseconds with velvety torque. If the all-wheel-drive hybrid supercar sounds familiar, yes, Porsche did something similar with the 918 Spyder. But even when you load the options on the NSX (try not to, we dare you), it's never more than a fifth the price of the Porsche. Then there are the little details, like a new form of casting Honda engineers developed for the NSX's crash structure. Or the three-dimensional bend to the A-pillar and roof rail that makes it less obstructive to the driver and also stronger. Even the Marysville, Ohio factory gets some credit here, with 12 patents filed relating to the assembly process. There's only so much a driver can do with two hands and two feet. The NSX takes your inputs and figures out how to maximize the contribution from each individual wheel. This is a car that harnesses all the greatness of technology to change what's possible in a sports car.Related Video: 2017 Acura NSX | First Drive