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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

Hyundai Santa Cruz, Kona N and Elantra Hybrid | Autoblog Podcast #691

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor, James Riswick. They've been driving a lot of new cars, including the 2022 Hyundai Santa Cruz pickup, 2022 Hyundai Kona N, 2021 Hyundai Elantra Hybrid, 2021 Acura TLX Type S and 2022 Hyundai Genesis G70. Lamborghini revealed a modern interpretation of the Countach, for better or worse. Finally, they heelp a listener replace a 2013 Ford Edge in this week's "Spend My Money" segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #691 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2022 Hyundai Santa Cruz 2022 Hyundai Kona N 2021 Hyundai Elantra Hybrid 2021 Acura TLX Type S 2022 Hyundai Genesis G70 Lamborghini Countach LPI 800-4 revealed Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video:

UPDATE: 2021 Acura RDX PMC Edition price set

The 2021 RDX is the latest in Acura's lineup to get the PMC Edition treatment. This limited-run, hand-built model follows the TLX and MDX PMC Editions and be finished in the same Thermal Orange Pearl that was pioneered on the NSX.  Blessedly, the "PMC in PMC Edition doesn't stand for pumpkin-anything. Rather, it's shorthand for the facility where just 360 examples of this crossover will be hand-assembled: Acura's Performance Manufacturing Center — the home of the Acura NSX — on Honda's Marysville, Ohio, campus. Each PMC Edition arrives in Marysville as a "body in white," ready to assemble and receive the paint process normally reserved for the NSX. The PMC Edition will be equipped similarly to an RDX with the A-Spec and Advance packages, with one exception: Acura's Super-Handling All-Wheel Drive system will be standard.  Otherwise, the PMC Edition is mechanically identical to the RDX, whose A-Spec already boasts a sporty exterior treatment to boot. The PMC Edition jazzes that up even further with gloss black wheels, a body-color grille surround, black chrome exhaust finishers, a gloss-black roof, gloss-black side mirrors and gloss-back door handles.  Inside, the theme is essentially inverted, with the black leather upholstery, steering wheel and floor mats all getting orange contrast elements. Apart from the serial number placard on the center console, the rest of the PMC Edition's interior is identical to that of a standard RDX equipped with the aforementioned packages.  Acura says the RDX PMC Edition will be priced at $51,000, with customer deliveries starting in October — just in time for jack-o-lantern season. Made you work for that one, didn't we?