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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

Rare 1999 Acura NSX Zanardi Edition sells for $135,000

Somebody just bought a 1999 Acura NSX Zanardi Edition for $135,000 on Bring a Trailer. And to that we say, we’re jealous. The Zanardi Edition is one of the more sought-after NSX models out there. Acura only ever sold 51 of them (named after racer Alex Zanardi), and they were sold during a time that nearly every NSX sold here was an NSX-T with the T-top. The hardtop Zanardi Edition features a number of performance improvements over a typical 1999 NSX. Acura took a sizable chunk of weight out of the car. Versus a hardtop coupe, itÂ’s about 54 pounds lighter. Compared to the more popular NSX-T, itÂ’s 149 pounds lighter. This was done in a few ways, but the single biggest weight reduction was due to the power steering delete, making it more like the older NSXs that never had power steering. Lightweight BBS wheels, a lighter battery, single-pane rear glass and a lighter rear spoiler also helped to reduce weight. It received a “racetrack-tuned suspension” that was considerably stiffer than the regular NSX. The shocks, springs and bushings were all revised, and Acura lowered the ride height (0.6 inch in front, 0.3 inch in rear). A stiffer and larger rear stabilizer bar was fitted, too. The Zanardi Edition is rather distinctive looking because of its New Formula Red paint and dark BBS wheels. Acura added red stitching to the all black interior, and owners also got to use a sweet titanium shift knob. And of course, thereÂ’s a special edition plaque on the interior to officially declare it a Zanardi.  Acura did nothing to the engine or transmission. Therefore, it retains the 3.2-liter V6 (290 horsepower and 224 pound-feet of torque) and six-speed manual. We donÂ’t get to see many Zanardi Editions go up for sale, but when they do, they get the big bucks. At 57,000 miles, this one is still on the low side, hence the $135,000 final bid. A regular (albeit newer) 2004 NSX-T with 1,900 miles just sold for $133,000 earlier today. So yeah Â… NSX values donÂ’t seem to be going anywhere but up these days. Related video:

Clarion Builds 1991 Acura NSX Review | Restored to greatness

Few automobiles garner as much mystique as the original Acura NSX. I worshiped this car from afar, consigned to the fact that the closest I was ever going to get to the steering wheel was a Playstation controller. When I got the email inviting me to drive Clarion Builds' restored and tuned 1991 NSX, I thought it was spam, a chain email with some generic header sent to a dozen or so people to garner some press coverage. Surely this wasn't a real invite where I get to drive a real NSX using my real hands and feet. Some people say don't meet your heroes. Some people are wrong. I knew the car by reputation. In roughly 10 months, Clarion Builds, a division of the Japanese electronics company mostly known for high-end audio systems, worked with partners like AEM and AutoWave to transform a '91 NSX with nearly a quarter-million miles on the clock into what you see here. Everything, from the engine to the bodywork to the leather on the seats, has been upgraded and restored with a mix of both OEM and aftermarket parts. The final product is a stunner. It's tuned, but not slammed, stanced or any other adjective that describes a car with compromised performance and questionable looks. It's simply a tastefully tuned NSX. The NSX, especially an early car with pop-up headlights, is one of the all-time great car designs. There are no unnecessary lines or curves. It's all purposeful. As expected with something with 230,000 miles, this NSX had a number of dings and dents. Clarion Builds has fixed those, replacing the hood and spoiler with carbon-fiber parts from an NSX-R. The fenders are slightly wider than stock, helping cover the staggered Rays Engineering VOLK ZE40 wheels, 18-inch up front and 19-inch out back. After seeing it in the flesh with the blue paint, black roof and bronze wheels, I don't think there is a better fit for this car. The original but tired 3.0-liter V6 and five-speed manual have been swapped for a 3.2-liter V6 and six-speed manual from a 2004 NSX. Stock, this engine is a wonderful ode to the internal combustion engine. It sings a sweet song all the way to a sky-high 8,200 rpm redline. Still, it wasn't enough. The engine now wears a Whipple-style supercharger, pushing roughly 9 psi of boost. Other modifications include a one-off carbon-fiber intake, a hand-built exhaust and a new ECU, all from AEM. All in, Clarion Builds says this NSX makes 403 horsepower and 296 pound-feet of torque at the wheels. God, it feels good to push this thing.