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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 Pikes Peak lineup is out, and there's a race-prepped MDX Sport Hybrid

Acura is coming back to Pikes Peak for the 2019 edition of the hillclimb, and it's bringing four vehicles to attack the mountain. Not the fastest, but perhaps the most interesting of the bunch is a race-prepped 2019 MDX Sport Hybrid. Engineers took the 3.5-liter V6 from the non-hybrid version (Hybrid has a 3.0-liter V6) of the MDX and bored it out to 3.7-liters. It then works together with Acura's three-motor hybrid system for a combined 400 horsepower and 350 pound-feet of torque. Shifting is still done by Acura's 7-speed dual-clutch transmission. The extra power is thanks to the larger displacement and special tuning for the engine and electric motors. Further upgrades to the MDX include a race-tuned active-damper suspension system and a roll cage. Acura says it goes a long way to increase structural rigidity. Additionally, Acura removed most of the vehicle's interior, including every seat but the driver's seat. Piloting the MDX is Jordan Guitar of Acura R&D's chassis development team. A couple NSXs, one "Time Attack" car and one mostly stock, will also run up the mountain. The Time Attack NSX has more power from larger turbos, bringing the system output up to 625 horsepower. Weight-saving measures have dropped 200 pounds from the structure, and there's plenty more downforce thanks to a big wing front splitter. Not much has been done to the production-spec NSX, as it simply adds a roll cage and racing seat with a harness. The Acura RDX that ran up the mountain last year is returning for this 2019 run. It features a modified 2.0-liter turbo that makes a respectable 350 horsepower and 330 pound-feet of torque. That extra power comes courtesy of a larger turbocharger, short-path intercooler and an electric supercharger. Can we have all that for production, please? The last Acura in the field is the same RealTime Racing TLX GT that won its class last year. There's one more NSX that'll be going up and down Pikes Peak, but not in anger. Acura is providing an NSX to act as the official pace car of the event, and it's predictably painted in the easy to pick out Thermal Orange.

These are your top 10 worst-selling vehicles of 2012

Despite 2012 being the best year of auto sales this country has seen since 2007, not every vehicle got an equally large share of the sales pie. Some barely got a sliver, as evidenced by this year's list of the top 10 worst-selling vehicles of 2012. We've dug through sales data from every automaker to come up with this year's list and, like last year, we've set some parameters to ensure it includes legitimately bad-selling vehicles. The first parameter is a starting MSRP under $100,000, which automatically excludes what's parked in most one-percenters' garages. We're also excluding vehicles cancelled in 2012, even if they garnered sales through the end of the year while dealerships sold off remaining inventory. This includes models like the Mitsubishi Eclipse, Mercedes-Benz R-Class and last year's worst-seller, the Acura RL. Next, vehicles are considered as they are reported by the automaker, which means that, while sales of the Murano CrossCabriolet were probably low enough to make the list, because Nissan reports only one number for all Murano sales, it was excluded. Cadillac, however, reports sales of the Escalade EXT separately from the Escalade, hence its repeat appearance. Finally, there was the question of whether or not eligibility should be given to Suzuki vehicles, as the brand announced in November that it would end sales in the US as soon as its current inventory ran out. We decided Suzuki vehicles should be included as the brand was offering 2013 models at the time of the announcement, and as far as we can tell, inventory levels remained high enough to satisfy demand through the end of the year. Without further ado, below are the top 10 worst-selling vehicles of 2012. Top 10 Worst-Selling Vehicles of 2012 10. Volvo C30 MSRP: $25,500 Units Sold: 2,827 Last Year: – 9. BMW Z4 MSRP: $47,350 Units Sold: 2,751 Last Year: – 8. Audi TT MSRP: $39,545 Units Sold: 2,226 Last Year: – 7. Subaru Tribeca MSRP: $32,595 Units Sold: 2,075 Last Year: 10 6. Suzuki Equator MSRP: $19,449 Units Sold: 1,966 Last Year: 7 5. Cadillac Escalade EXT MSRP: $63,060 Units Sold: 1,934 Last Year: 6 4. Nissan GT-R MSRP: $96,820 Units Sold: 1,188 Last Year: – 3. Acura ZDX MSRP: $50,920 Units Sold: 775 Last Year: 4 2. Mitsubishi Lancer Sportback MSRP: $18,495 Units Sold: 702 Last Year: 3 1. Mitsubishi i-MiEV MSRP: $29,125 Units Sold: 588 Last Year: – Want a little more "worst-selling" data? Check out our list of the top 10 worst-selling vehicles of 2011.