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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 is livestreaming an augmented reality race on Facebook

Honda's luxury car brand Acura is set to livestream an augmented reality race featuring its 2018 TLX A-Spec sedan. The event will see four drivers hit a real track while wearing AR helmets that will create new virtual environments for each lap. Aside from spectating, viewers will also be able to interact with the racers on Facebook Live. The race will see each driver attempt to clock the fastest overall time during a three-lap time trial. That sounds simple enough, until the AR environments come online and really begin altering what the drivers see. As a result, each lap will trigger a new mixed-reality environment, visible to both the drivers and viewers. Central to the virtual experience will be the computer-connected helmets worn by the racers. Within each helmet is a HD screen with a two-way mirror that allows the driver to see the AR overlaid onto the real track. A computer rig in the backseat, powered by the Acura's battery, will generate the environments. To ensure the experience runs smoothly, Acura will have to track the objects on the tarmac and the movement of the car itself. Of course, this isn't Forza, so you can't just rewind the action should something go wrong, so Acura will use custom-made tracking gear to ensure the drivers don't plough into a wall because their eyes deceive them. You can tune into the race on Monday at 8pm ET on YouTube, Facebook, and Twitter. Viewers will be shown the action courtesy of cameras placed on the drivers' helmets and around the track. Facebook Live audience members will also be able to offer hints and tips. Acura claims the interactions will transform viewers into a virtual pit crew. But all you'll really be doing is smashing a Facebook reaction at a given time to reveal a shortcut to the driver -- which isn't quite the same, is it?This article by Saqib Shah originally appeared on Engadget, your source for this connected life.Related Video: Marketing/Advertising Motorsports Acura Racing Vehicles Sedan augmented reality acura tlx

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.