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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

2021 Acura TLX revealed, finally looks like a credible luxury sports sedan

We've been given our first official glimpse into the brand-new 2021 Acura TLX sedan, and so far we like what we see. It's clear that Acura wants to be considered a brand that focuses on performance, boosting power with two turbocharged engine options and the return of the Type S variant after a decade-long absence. Acura stuck close to the well-received Type S concept when styling the new TLX, which means the sedan boasts crisp lines, aggressively creased sheetmetal and a low, wide stance. An angular grille is flanked by Acura's Jewel Eye headlights and Chicane LED running lights to create an expressive face, and similarly shaped taillights at the back end finish off a cohesive design. An A-Spec sport package adds darkened elements along with a unique set of 19-inch wheels and a rear spoiler. The 2021 Acura TLX Type S goes several steps past the A-Spec with a so-called Diamond Pentagon grille and larger side air intakes. A front splitter and rear diffuser join the requisite rear spoiler to round out the aero package. Quad exhaust tips and 20-inch wheels are also included as part of the package. But the big news is underhood, with a 3.0-liter turbocharged V6 serving as the headliner. Acura hasn't yet released power figures for the Type S, but promises it will be much more powerful than the outgoing 3.5-liter V6 with "a more than 50-percent increase in low-end torque."   Related: 2021 Acura TLX vs. luxury sedans: How they compare on paper   Standard TLX models will get a new 2.0-liter turbocharged four-cylinder engine that produces 272 horsepower and 280 pound-feet of torque. That's 66 hp and 98 lb-ft more than the previous naturally aspirated 2.4-liter engine, and Acura says there are 123 additional lb-ft at 1,500 rpm. Both engines will send their ponies through a 10-speed automatic transmission. Front-wheel drive is standard, and Acura's fourth-generation torque vectoring Super Handling All-Wheel Drive system will be standard on the Type S and optional on other TLX models. Inside, all TLXs get a tech-rich cabin that features a centrally mounted 10.2-inch display and Acura's latest True Touchpad Interface. A 7-inch digital screen in the gauge cluster is standard, and a 10.5-inch head-up display is optional. Acura's Integrated Dynamics System is controlled via a prominent silver dial, and it now offers a customizable Individual mode.

It's a good time to get a great deal on a new sports car

Anyone who regularly follows our reporting on the biggest discounts on new cars already knows that the largest sums of money are generally lopped off the sticker prices of the priciest vehicles. It just makes sense. The formula holds true in April, with the 2020 Audi R8 leading the way. It's important to note that the Audi R8 comes in both coupe and convertible flavors and, despite coming standard with a V10 engine, multiple power levels. On average, customers are paying $18,551 less than the R8's $191,136 sticker price. That's nearly 10% off, with the average out-the-door price hovering at $172,585. Up next is the 2020 BMW M8, a vehicle we've grown used to seeing on this list. It's sold in hardtop, convertible and four-door Gran Coupe body styles, and when you average out all of its transactions, buyers are scoring discounts of $16,930 with an average transaction price of $139,891. That's 10.8% off the German car's sticker price. Another familiar face is in third place this month. The 2020 Acura NSX often leads the biggest-discounts list, and even though it's fallen a bit behind in the savings race, we doubt buyers who see $16,675 cut off the sticker are complaining. With an average transaction price of $143,013, that discount equals a savings of 10.4%. For a look at the best new car deals in America based on the percentage discount off their suggested asking prices, check out our monthly recap here. And when you're ready to buy, click here for the Autoblog Smart Buy program, which brings you a hassle-free buying experience with over 9,000 Certified Dealers nationwide. Related video: