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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

2020 Acura NSX Road Test | The cerebral supercar

The 2020 Acura NSX is the kind of car you’re pumped to drive. You think about it the night before. You read up on it. You tell your friends and family. You notice passers-by admiring it in the driveway. They try to be sly. Some gawk. ThereÂ’s anticipation. But is there satisfaction? The NSX immediately raises two questions. Where does it fit among its contemporaries and does it measure up to its legendary predecessor? Seeking the answers, I slip behind the wheel on a sunny morning. The NSX is a welcome respite from the cares of the world and concerns of the coronavirus. IÂ’ve got a few hours ahead of me in a $203,000 supercar. ItÂ’s a good time to reflect. Immediately, I have a sense of deja vu. I drove an NSX in 2017 at Pebble Beach, but my senses take me farther back, to the fall of 2014 when I drove a 1991 NSX. I had the same anticipation, nerves even, as I prepared for that drive. Getting situated in the 2020 model, IÂ’m struck by the simplicity of the NSX. A McLaren or a Lambo take a minute to figure out, but everything is easy to read and use in the Acura. Like the ‘91 NSX, it looks striking on the outside, but the inside is almost plain. IÂ’m OK with that. Simple works for Porsche, which will happily sell you a six-figure 911 with a spartan interior. IÂ’m underselling the NSXÂ’s cabin — which is actually quite nice inside — understated yet cool. My tester has a black interior with carbon-fiber accents and semi-aniline leather seats with Alcantara, though the big steering wheel is the focal point. Looking to my right, the infotainment anchors the center stack, and thereÂ’s a knob for tuning the drive modes and the push-button gear selector. The outward visibility is outstanding. Driving a supercar can be intimidating, and being able to see things is helpful, especially when youÂ’re inches off the ground. I accelerate onto a surface street where the speed limit is 45 mph. ThereÂ’s a low growl, and then the NSX gets a bit angrier. ItÂ’s never quite uncouth, even when the revs spin up on the expressway. ItÂ’s surprisingly gutsy low in the band, around 2,000-3,000 rpm, and the soundtrack gets louder and better from there. Anticipation building, I near the onramp to Interstate 75 in DetroitÂ’s northern suburbs, where I run into cones. And blockades. Construction work is a staple of summer in Michigan. More time on the suburban slow road, and I find myself growing more comfortable in the NSX.

2016 Acura MDX gets 9-speed transmission, added refinement

It's a car we barely think about until Acura announces it's done something to it, but the MDX is rather popular with those questing for a crossover. For 2016 the third-generation, luxury three-row people-carrier gets a slightly higher MSRP, but better standard equipment and options to go with it. The big change is that the nine-speed automatic transmission with tighter ratios and faster gear shifts, as well as its push-button gear selector, has finally migrated from the top-dog RL sedan. So too the upgraded twin-clutch Super Handling All-Wheel Drive, paired here with the unchanged 290-horsepower, 3.5-liter six-cylinder. We thought adding three more cogs was supposed to make for better fuel economy, but in some cases the EPA ratings on the 2016 MDX have gone down by one mile per gallon. The base 2015 MDX is rated at 20 city, 28 highway, 23 combined; the 2016 is rated 19 city, 27 highway, 22 combined. Add SH-AWD on the 2015 and you're looking at 18 city, 27 highway, 21 combined; on the 2016 that's 18 city, 26 highway, 21 combined. If you add idle-stop to those models you restore the city and combined ratings, but still lose that extra mile on the highway. On the options list is a group of safety and driver assistance features grouped under the AcuraWatch rubric. You can add the whole kit for $1,500 to the base model, but some of its features like Lane Keep Assist and Forward Collision Warning, which you can also option on the 2015 model, are added with the Technology Package. The full suite, which includes model-firsts like Road Departure Mitigation and Rear Cross Traffic Monitor, is standard once you step up to the Advance Package. Other tech treats get baked into all trims, like the easy entry/exit driver's seat slides back 1.4 inches when you're getting in and out, the TPMS fill assist that sounds a beep when you've inflated the tires to the correct pressure, Siri Eyes Free voice recognition and a frameless rearview mirror. The price to get in on all this is $42,865, a a $1,100 bump over the 2015 model, but that's not a blanket increase across the lineup: the MDX with the Technology Package, for instance, has only gone up $250. The upper limit comes with the MDX SH-AWD with idle stop and the Advance, Entertainment & AcuraWatch Plus Packages for $57,080, a $100 increase over the top-of-the-line 2015 trim. The press release below has plenty of details.