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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

Kia leads J.D. Power's Vehicle Dependability Study for 2022

For the first year ever, Kia leads J.D. Power's annual Vehicle Dependability Study with a score of 145 problems per 100 vehicles. Buick (147) and Hyundai (148) round out the top three. The highest premium brand on the list is Genesis, with a score of 148. It's common for so-called "mass market" brands to lead this particular study, according to J.D. Power, as "premium" brands "typically incorporate more technology in their vehicles, which increases the likelihood for problems to occur" and aren't necessarily built to a higher standard that less-expensive brands. The highest-rated single nameplate is the Porsche 911. It's the third time out of the past four years and the second year in a row that Porsche's quintessential sports car has taken top honors. Porsche as a brand sits in seventh place (162) just behind Lexus (159) and ahead of Dodge (166). At the very bottom of the list is Land Rover with a dismal score of 284; the SUV specialist held the same unfortunate distinction on last year's list. Ram (266), Volvo (256), Alfa Romeo (245) and Acura (244) also performed poorly. The overall industry average score sits at 192 — mass market brands average a score of 190 while premium brands sit 14 points lower at 204. While Tesla is unofficially included in some of J.D. Power's results, the agency says the sample size it has access to for this study is too small to include. As has been the case for the past several years, infotainment systems dominate the list of problems reported by owners. Popular (or unpopular, depending on your point of view) complaints include built-in voice recognition (8.3 PP100), Android Auto/Apple CarPlay connectivity (5.4 PP100), built-in Bluetooth system (4.5 PP100), not enough power plugs/USB ports (4.2 PP100), navigation systems difficult to understand/use (3.7 PP100), touchscreen/display screen (3.6 PP100), and navigation system inaccurate/outdated map (3.6 PP100). While problems with the car's infotainment and technology packages are indeed bothersome, it's important to remember that such issues aren't usually leaving owners stranded with an immovable vehicle like a broken transmission or blown engine would. Culling infotainment complaints from the results would reduce the average problem-per-100-vehicle score by a staggering 51.9 points. The vehicles included in this study are from the 2019 model year. That means owners have had three years to get to know their cars and trucks. It's the 33rd year that J.D.

Acura MDX design lead details the crossover from beginning to today

Catalin Matei, principal designer at Acura, was the exterior design lead for the original 2001 MDX and had the same job for the new MDX Prototype. That’s just plain cool, and it makes him the MDX person of record when it comes to design.  Thankfully, Acura put him in front of a camera with the original and the new Prototype to talk design. That video is at the top of this post. MateiÂ’s background gives him a unique perspective on how MDX design has changed throughout the years. In the video, he walks us through his and AcuraÂ’s thinking and rationale for the three-row crossoverÂ’s design both then and now. ItÂ’s a great watch, as you learn how AcuraÂ’s crossover design philosophy has changed over the years. Where the original design tried to be elegant and clean, the new MDX takes a stab at sportiness and performance. This line of thinking is in tune with all of AcuraÂ’s most recent designs following the “Precision Crafted Performance” mantra. 2001 Acura MDX View 11 Photos Specifics on how the carÂ’s design has changed are called out by Matei. For example, grille design — itÂ’s much bigger now! The character line that wrapped around the original MDX has moved upward in the new MDX. This gives the new crossover a broad-shouldered and strong look that the old MDX just didnÂ’t have. And you probably wouldÂ’ve never guessed this, but the bodyside sculpting was inspired by the rocks in the Antelope Canyon. WeÂ’re not totally convinced.  One downside from the slick and “sporty” design may be unintentionally called out. The third row of seats is almost entirely shrouded by the body, as opposed to the massive windows in the original MDX. Those in the rearmost seats will have a much more claustrophobic experience than everybody else in the car. If you want all the details we know about the upcoming next-gen MDX, check out our reveal post here. Also, bookmark this page. WeÂ’ll check back in with Matei 20 years from now for the 2040 Acura MDX reveal. Related gallery: MDX Prototype View 35 Photos