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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

2022 Acura MDX Type S priced far above the base model

Acura has published pricing information for the 2022 MDX Type S, the first SUV that the firm has deemed worthy of wearing this esteemed badge. It's priced well above the entry-level MDX but it gains a long list of performance, comfort, and technology upgrades to make up for it. Pricing for the Type S starts at $67,745 including a mandatory $1,045 destination charge. In comparison, the base MDX starts at $48,245 including the same destination charge. While that's a significant difference, the range-topping Type S benefits from 3.0-liter V6 engine that's turbocharged to 355 horsepower, a rear-biased all-wheel-drive system, Acura's first air suspension system, and Brembo-sourced four-piston front brake calipers. Visual changes (including a grille that sends about 10% more air to the engine bay) further set the Type S apart. The list of standard features also includes 21-inch wheels with self-sealing tires, LED exterior lighting, aluminum interior trim, leather upholstery, heated and ventilated front seats, a wireless device charger, a 16-speaker sound system and 12.3-inch display for the infotainment system; Acura packs a lot of features into the Type S. Buyers who want even more can step up to the Type S with the Advance Package, which starts at $73,095 including destination. It will be the most expensive member of the line-up once the NSX exits the stage. Ordering the Advance Package adds a 25-speaker sound system with 1,000 watts and illuminated door speakers, 16-way power-adjustable front seats (the standard Type S gets 12-way units), a nine-way massage function for the front passengers, heated rear seats, wood interior trim with black metallic accents, a heated steering wheel, a surround-view camera, a power-operated tailgate, gloss black exterior trim and roof rails, plus acoustic laminated glass in the rear doors. As a bonus, Acura adds floor mats that it describes as "ultra-plush." Acura dealers across the nation will begin receiving the 2022 MDX Type S during the second half of December 2021. Related Video:

Blackwings, a G 63 gets dirty and a wave of rad-era nostalgia | Autoblog Podcast #693

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd, who has spent the past few weeks sampling a near-endless string of enthusiast vehicles. They start off discussing Cadillac's 2022 CT4-V and CT5-V Blackwing models, which Byron had the opportunity to drive at Virginia International Raceway. They follow that up with a discussion of the Mercedes-Benz AMG G 63, which Byron also drove on a track, albeit one of a very different sort. After that, some news. Greg and Byron run down the list of returning enthusiasts nameplates, including Integra, Z and Countach, and cap off by talking about what a third-generation Acura NSX might look like.  Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #693 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 What we're driving 2022 Cadillac CT5-V Blackwing First Drive 2022 Cadillac CT4-V Blackwing First Drive 2021 Mercedes-AMG G63 Off-Road Review News Mercedes shelves almost every V8 model for 2022 There will be a third-generation NSX, says Acura V.P. Lamborghini Countach LPI 800-4 revealed, basically a retro Sian 2023 Nissan Z is revealed with two turbos, 400 horsepower and six manual gears Acura Integra will return in 2022 after a long hiatus 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: 2021 Mercedes-AMG G63 Off-Road Review -- The Forbidden Hoot | Autoblog