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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

Honda finds new Green Path to reduce CO2 emissions

In the wake of the Volkswagen diesel scandal, it's impossible to hear an automaker talk about its overall environmental efforts and not think to yourself, "for real?" Still, we're willing to listen. And Honda representatives gave it their best shot yesterday in Marysville, OH as they introduced a small group of journalist to the company's expanded initiative aimed at cutting CO2 emissions and the total life-cycle environmental impact of Honda products. Called Green Path, the initiative now includes a $210-million expansion at Honda's Marysville, OH manufacturing plant to install a better, cleaner paint shop. Speaking at the facility yesterday, Honda representatives said that the plant room is not only better for the environment (it uses limestone dust instead of water to capture paint particles, for example, reducing water usage by about 2 million gallons annually. Overall, the new paint shop will have 60 percent less VOC emissions and reduce CO2 emissions by 18 percent), it also makes the cars look better. That's whey the two-step temperature curing process will initially only be used on Acuras to differentiate them from the competition. Honda will fire up trials in late 2017. There's more to Green Path than the new paint show, of course. The company wants to reduce - in some cases eliminate - what it calls substances of concern (SOCs), things like lead and mercury. There are also new wind turbines in Ohio to supply power to Honda plants, the Environmental Leadership Program for independent dealerships to make their own green moves, and swapping out fluorescent light bulbs for LEDs, among other efforts. In the Marysville Auto Plant, for example, the Assembly department has over 10,000 task light bulbs. The fluorescent ones used to need to be replaced every three years, but the new LEDs have a life span of 16 years. Honda says that calculating up the impact of all of these little changes will remove an average of 3.822 kilograms of CO2 from the production tally of each car it makes. The company's stated goal is to reduce its total greenhouse gas emissions by 50 percent (compared to 2000 levels) by 2050. You can find out more in Honda's press release and video, below. Honda Announces New "Green Path" Initiative to Reduce Total Life-Cycle Environmental Impact MARYSVILLE, Ohio (Sept.

Acura Type S Concept debuts as a stunning four-door sedan

Acura is bringing the Type S badge back with authority. While the Acura Type S Concept is, as its name implies, a concept, it looks and sounds a lot more like a design preview for the next-gen TLX in Type S flavor. Acura says it will debut two Type S performance variants within the next two years. The first will be the TLX, and our guess would be that an RDX Type S will follow. But let’s dive into what Acura has given us today. From the company: “The Type S Concept sets the stage for re-introducing Type S performance variants to the Acura line-up after a decade hiatus, and will heavily influence the character of the upcoming, second-generation TLX Type S.” If you were hoping for a design and powertrain preview, weÂ’re sad to report that Acura is not using this opportunity to showcase the engine coming to the TLX Type S. Not all is lost when it comes to mechanical details, though. This concept rides on 285-width summer tires on all four corners, which is positively huge for an Acura sedan. Four-piston yellow Brembo brake calipers are used, shining brightly through 21-inch wheels. Instead of the fake vents all over the Civic Type R, Acura says the venting and grille space up front is functional, allowing air to get through to the “high-performance engine and brake package.” Though again, we donÂ’t know what that high-performance engine will be just yet. Just like other Acura concepts of late, this one is a real looker. Its LED lights in front and back signal a new style for Acura that it calls “Chicane.” While the headlights may look a lot like those on the NSX, this fixture debuts the automaker's new four-lamp “Jewel Eye” LEDs. Instead of squares, we get rectangular eyes, and they look even cooler than before. YouÂ’ll also notice a bunch of elements scattered throughout that look a little bit like carbon fiber. Acura says itÂ’s forged carbon, and itÂ’s visible on the front splitter, along the front vents, side sills, wheels, rear spoiler and rear diffuser area. While not as flashy as glossy carbon fiber, it looks cool in the photos weÂ’re scrutinizing here. The stunning blue paint is also special. Acura calls it “Double Apex Blue Pearl,” and it uses nano pigments and a color-infused clear coat to enhance the appearance. The hue pays homage to the blue TL Type S offered in the 2007 and 2008 model years.