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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 aiming for Chinese production by 2016

Not wanting to be left out of the emerging luxury car bonanza in China, Automotive News is reporting that Acura could begin producing vehicles in the Asian country by 2016. Like Audi, Mercedes-Benz and BMW, Acura will reportedly build vehicles in China using a local partner - Guangzhou Automobile Group Co. in Acura's case - while Cadillac and Infiniti will build their own vehicles locally.
Guangzhou already produces Honda models in China, but the article says that the first Acura produced in that country could be a new compact model based on the Acura SUV-X Concept (shown above), a showcar revealed in April at the Shanghai Motor Show. China's luxury car market is expected to grow to 2.7 million units a year by the end of this decade, which would put it on pace to make it the largest premium car market in the world.

Acura's MDX SEMA concept took the wrong parts from the NSX GT3

When it comes to SEMA show cars, the more absurd the better, such as with the 1,040-horsepower Bisimoto Hyundai Santa Fe. That's not the case with Acura's custom MDX. This crossover was designed to match the NSX GT3 racecar, and gets a custom trailer to tow it. However, instead of doing something awesome like dropping in the NSX's twin-turbo V6, Acura decided the defining characteristics of the race car were the paint, splitter, and wing. So that's what the MDX and trailer got. In addition to a matching white paint scheme with orange and black accents, the SUV wears a massive front splitter that looks like a shelf stuck close to the ground. It's the only aero modification on the vehicle, and it just looks silly, what with the massive gap between the base of the bumper and the splitter itself. There aren't any performance modifications on this SUV either, except the lowered suspension, so the only thing the splitter is likely to do is break off on the first mildly steep driveway it comes across. To complement the MDX's dubious aero aid, the custom trailer gets a "wing" at the back. Actually, it looks like Acura slapped some endplates on the back to give it a wing look. The trailer also gets running boards that extend the splitter along the side. Maybe it all works together to keep the trailering rig planted. But probably not. If Acura wants suggestions for next time, we suggest a mid-engined MDX, or perhaps one with a wild hybrid system. We'll call this a missed opportunity. Related Video: Featured Gallery Acura MDX with custom NSX GT3 Trailer: SEMA 2016 View 11 Photos Related Gallery 2017 Acura MDX SEMA concept Image Credit: Live photos copyright 2016 Drew Phillips / Autoblog Design/Style SEMA Show Acura Crossover Racing Vehicles acura mdx acura nsx gt3