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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

Motorweek goes retro with '80s hot hatch shootout

Motorweek's decades of history on television make it the perfect medium to look back into the automotive past and see how things are different now. It recently added old road test videos to its YouTube channel of the Acura NSX and Toyota Supra, as well as the Ferrari F40. For one of its newest flashback clips, Motorweek has exhumed an affordable five-car challenge of 1986's premiere hot hatches.
By today's standards, this is an eclectic field that features fondly remembered classics like the Volkswagen GTI 16-valve and Acura Integra. However, it also throws in some nearly forgotten contenders like the Dodge Colt Turbo and Ford Escort GT. The angular Toyota Corolla FX16 GT-S rounds out the group.
It's fascinating to watch Motorweek run the quintet through the slalom, down the drag strip and on various roads. What's most striking in this clip is the difference in the definition of a performance car between then and now. With its 16-valve, 1.8-liter four-cylinder, the GTI is the burliest of the contenders with 123 horsepower, but it still takes 8.8 seconds to reach 60 miles per hour. By today's standards, that would make it a plain-jane economy car, and not even a particularly quick one.

Acura 2019 RDX Prototype | New era for a popular crossover

Acura took the wraps off its sleek new RDX Prototype today at the Detroit Auto Show, displaying a completely redesigned, re-engineered crossover that heralds a new era for design and technology for the automaker. Acura says it's a pretty close representation of the production version due out midyear as a 2019 model, save for the highly stylized side mirrors and wheels. The Prototype serves as the third generation of the RDX, and Acura says it's the first full embodiment of the new exterior and interior design language first introduced on the Precision Concept, shown in Detroit in 2016, and the Precision Cockpit, a concept interior it unveiled in Los Angeles in 2016. So in addition to the Precision's diamond pentagon grille, which has already made it to the TLX, the crossover adopts the Precision sedan's low, wide stance and sculpted body panels. Compared to the outgoing RDX, the new version adds 1.2 inches of width and 2.5 inches to the wheelbase, with a shortened front overhang and wheels pushed to the corners. Headlamps and exterior lights are all LED. The RDX Prototype debuts the all-new Acura True Touchpad interface, which combines a touchscreen and remote interface in one Android-based operating system. There's a 10.2-inch full-HD display atop the center console that's operated via a remote tracking pad mapped to the center display, plus an interactive heads-up display. (Here's a good video explainer for how it works.) It also has a new and improved natural-language voice-recognition system. View 12 Photos Inside, there's more space, rear legroom and cargo space. A floating center console is inspired by the Precision Cockpit, plus high-grade materials including nappa leather, brushed aluminum and Olive Ash wood. It'll also be the first Acura SUV offered with the brand's sporty A-Spec trim, which will eventually be part of all core Acura models developed moving forward. And all RDX models will come equipped with a new ultra-wide panoramic sliding moonroof, the largest in its class. Acura is building the new RDX on an Acura-only platform that gives it a lighter and stiffened body, new chassis and all-new powertrain that it says will be its quickest and best-handling RDX to date.