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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

Acura product roadmap leak points to 'compact Type S' and MDX Type S

The Type S moniker is back along with the 2021 Acura TLX Type S sedan. And today, the internet has sprouted some more Acura Type S news. We caught wind of a forum post on Acurazine through a thread on Reddit that includes a link to a video allegedly shown during Acura’s 2020 dealer meeting webcast. That video doesnÂ’t appear to be live anymore, but an enterprising individual happened to screenshot the most important slide from the video: AcuraÂ’s product roadmap to 2022. HereÂ’s the link youÂ’re looking for. Take this information with a grain of salt. ThereÂ’s a good chance that this intel is correct, but plans change. Most imminent is a redesigned Acura MDX with a Type S variant. We expect an MDX Type S to follow the same formula as the TLX Type S. AcuraÂ’s new 3.0-liter turbocharged V6 would be a fine candidate for this duty. With that powerplant (horsepower unknown, but likely around 400 ponies), it could punch up against SUVs like the Mercedes-AMG GLE 53, or punch down to the Ford Explorer ST. tuned suspension, plenty of appearance add-ons and sportier interior would also likely be along for the ride. ItÂ’s placed directly after the TLX on the chart timewise, so thereÂ’s a good chance that we see a new MDX soon. Next up is the one that weÂ’re especially excited about. A new Type S “compact sedan” is on the way. Acura neglected to give this one a name, which is odd, unless thereÂ’s a big secret it wants to keep. Right now, AcuraÂ’s small sedan is called the ILX. In past (and better) years, Acura named its small cars Integra and RSX. Might we see the return of the Integra name? Or perhaps RSX? ThereÂ’s precedent for an RSX Type S, and this small Acura appears to be getting the Type S treatment.  So, what might a small Acura Type S look like? The car could borrow hardware from the Civic Si, or it could borrow from the Civic Type R. A more luxurious Civic Type R with AcuraÂ’s delightful and sharp styling would be splendid. ItÂ’d be dialed back to fit the Type S name, but nearly anything would be better than the ILX wallowing at the bottom of AcuraÂ’s lineup today. WeÂ’re left to guess at the details for now, but the roadmap shows that car arriving by 2022. There are two other small nuggets of info weÂ’ll point out on this roadmap. Acura doesnÂ’t list an RDX Type S anywhere on it. That could be because the RDX was recently redesigned, so itÂ’s not one of the completely new vehicles listed in the step ladder of new product.

Did Acura just confirm it's working on an Integra successor?

The Acura Integra (pictured above in Type R trim) was one of the definitive vehicles of the Acura brand in the US, having joined the Legend at the marque's birth here. However, since the retirement of the RSX, the luxury arm of Honda has lacked a compact, sporty coupe to fill that niche. There appears to be a chance of that absence possibly coming to an end in the coming years, though.
Acura lead designer Dave Marek spoke to Car and Driver during the SEMA Show and said, "A performance brand needs a flagship and it needs an accessible sport car. Not a sports car, but a sport car." However, he also suggested that a new model wouldn't be spinning its tires too soon, at least not before 2017 by his indication.
While the vague possibility of a new sports coupe is still years away, Acura is taking its early steps in a brand revitalization campaign that includes spinning the luxury arm further away from Honda. The strong initial sales of the TLX are certainly a good start, but the work appears to just be beginning, according to Marek. "There are changes coming, and then there are more changes coming," he said to Car and Driver.