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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

2019 Honda S2000 roadster rumors swell

Our friends over at Car and Driver have been speculating about a possible S2000 roadster from an unnamed insider source. While there's not much to go on, it certainly squares with a steady drumbeat of sporty car innuendo surrounding the company. Let's briefly connect the dots and see if a Honda S2000 might be on the way by 2018, as the rumor says. The little roadster pictured above? Definitely not what a new S2000 would look like. That's the S660, which is sold in Japan and shares some components with the N-Box and N-One microcars. As we told you last year, after some hints that it would come to the US, Honda's brass decided it was too small. That was disappointing, but probably the right call. On the other hand, Honda finally brought out the 2017 Acura NSX, which may have its flaws but still represents a unique platform that the company spent a great deal of yen building ( in Ohio, by the way). It's that bit that the rumor hinges on: Honda's willingness to develop unique platforms for its sporty models. It'd need that for an S2000 revival, because there's certainly no Honda model that could donate its underpinnings at this moment. Honda execs have been clear that the company is under pressure from dealers over the lack of verve in the company's lineup. American Honda Executive Vice President John Mendel told Automotive News last year that dealers "want anything in the sports car world. They're going, 'Gimme a sports car.' They want a retractable hardtop; they want a high-horsepower $20,000-sports car. Because that's the nature of what they do." Honda is allegedly going to utilize some sunk cost by employing the new Civic Type R's engine in this roadster. That 2.0-liter turbocharged four makes 306 hp in the Civic, and would make slightly less than that in the S2000, according to the rumor. At this stage, these rumors are mostly wishful thinking fanned by the flames of dealer pressure for sporty models. We hope Car and Driver's insider has it right, because the S2000 was a phenomenal car that deserves a follow-up – and Honda deserves more fun cars in its American showrooms. Related Video: Featured Gallery Honda S660: Honda Meeting 2015 View 15 Photos News Source: Car and Driver Rumormill Acura Honda Convertible Performance roadster honda s660 rumors

2017 Acura Model Year Preview and Updates

In what would otherwise be a model change of modest updates, Acura rewrites the rules with its all-new NSX, a high-performance hybrid reconfiguring the exotic car template. Beyond the all-new NSX, 2017 is what we've come to expect from Acura: competence, efficiency and affordability in the near-luxury segment. ACURA NSX: The all-new NSX, with a mid-engined V6 supplemented by a hybrid drivetrain and front-mounted Twin Motor Unit, provides a performance and handling dynamic rarely seen on the street - and certainly not otherwise available for the NSX's $160,000 MSRP. With a unique blend of aggressively aerodynamic design and refined yet explosive performance, the NSX effectively resides in a class of one. ACURA ILX: Acura's entry-level sedan continues for 2017 with no real changes but the addition of Lunar Silver Metallic, Modern Steel Metallic and San Marino Red exterior colors. ACURA TLX: The TLX continues into its third model year with only modest changes. New for 2017 are three new colors – San Marino Red, Lunar Silver Metallic and Modern Steel Metallic. Also, a GT package is offered for the first time. Designed to reflect Acura's ongoing interest in racing, the GT addition is a combination of Acura's underbody spoilers and your money. ACURA RLX: Modest changes on both the standard RLX and RLX Sport Hybrid. ACURA MDX: Acura's MDX enters its fourth model year with an aggressive freshening, standard front-wheel drive and AcuraWatch, a new suite of safety and driver-assistance technology available across all MDX models. Styling updates include a new grille, hood, front fenders and side sills, along with new front and rear fascias. Inside, an electric parking brake with automatic brake hold has been added. And on the top-of-the-line Advance, buyers enjoy both real wood trim and second-row captain's chairs. ACURA RDX: The 2017 model year introduces two new colors: Lunar Silver metallic and Modern Steel metallic.