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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 NSX production car headed for Detroit debut?

Auto Express is reporting that Honda is set to unveil the production version of its upcoming Acura NSX at the 2013 Detroit Auto Show. The news comes courtesy of an unnamed "top exec" for Honda Brazil speaking at the Sao Paulo Motor Show. The concept version of the Japanese supercar is currently on display there. Interestingly enough, the same unnamed source claims the production iteration will remain aesthetically identical to the show car. You won't hear any qualms from us on that front.
Of course, the timing of the production debut is a little confusing. For starters, when Acura unveiled the concept last year, the company told the world it would be at least three years before production began. That would give the street-worthy model a 2014 or 2015 designation, the latter being cited more often in media accounts. Thus, we'll keep an eye out for the hybrid supercar in Motown, but we're going to stop short of holding our breath... it might be a while.

Acura MDX Prototype reveals slick new looks, with Type S close behind

The next-generation Acura MDX is here, almost. This three-row crossover you’re looking at is technically being called the MDX Prototype by Acura, but itÂ’s about as close to production as any prototype can get. And what a looker it is. Acura has followed up the slick TLX sedan with another attractive design. With the MDX now the best-selling Acura nameplate of all time, this one was even more important for Acura to get right. Just like the TLX, it benefits from a much longer dash-to-axle dimension, measuring in six inches longer than the outgoing MDX. The pentagon grille, and Chicane-shaped DRLs in the headlights now grace a much wider car. Acura gave this MDX a wider track and a three-inch longer wheelbase, both aiding in making it appear far more graceful and sporty. Acura clearly isnÂ’t holding much of anything back with this MDX Prototype versus the final production car, and weÂ’re liking what we can see so far. Many of the design elements we liked so much on the TLX are transferred over to this crossover body style, and Acura has done so with class. The MDXs you see here are riding on new 21-inch wheels that are bolted up to a new light truck platform and chassis specifically tailored for the MDX. Acura says it provides for more athletic handling, greater ride comfort and a quieter cabin versus the outgoing MDX. ItÂ’s even more rigid than the RDXÂ’s body. Just like the new TLX, Acura has gone with a double wishbone front suspension design to make the MDX an even sportier driver. ThereÂ’s more excitement in the powertrain options for the new MDX, too. Acura promises a Type S version of the MDX is coming with the same 3.0-liter turbocharged V6 youÂ’ll find under the hood of the TLX Type S. It will make 355 horsepower and 354 pound-feet of torque (same as the TLX) in this application. The standard engine will continue to be AcuraÂ’s 3.5-liter V6 that makes 290 horsepower and 267 pound-feet of torque. Both engines will be mated to AcuraÂ’s 10-speed automatic transmission and send power to all four wheels using the latest fourth-generation SH-AWD system. Not all of the performance details are available yet, but Acura says the MDX can be had with four-piston Brembo brake calipers and comes with a drive mode selector that allows you to adjust ride, handling, steering, suspension and powertrain characteristics. More Type S-specific details will need to wait. The interior matches the exterior for flair and elegance.