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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 Type S officially goes on sale tomorrow

The 2021 Acura TLX Type S is arriving at Acura dealerships tomorrow. After over a decade hiatus here, we’ll have an Acura with a Type S badge available to buy once again. It wonÂ’t be too much longer until the MDX Type S joins the TLX, too. You can read everything there is to know about the TLX Type S in our first drive review. ItÂ’s the high-performance model of the four-door sedan, featuring a new 3.0-liter turbocharged V6, sport-tuned suspension and AcuraÂ’s excellent SH-AWD system. Power is rated at 355 horsepower and 354 pound-feet of torque. Acura dropped a video (you can watch below) with todayÂ’s on-sale announcement to dive into some of the nitty gritty details of this new V6.  One item the video misses is the TLXÂ’s new active exhaust system, though. ItÂ’s a new exhaust that is passed down from the NSX. As active exhausts go, this one is fairly standard. There are butterfly valves within the system that open depending on your throttle position or selected mode. Sport+ mode leaves them open 100% of the time, and theyÂ’ll even open in Comfort mode if you rev beyond 4,000 rpm. Acura says the exhaust is 5-7 decibels louder when the valves are open versus closed. If you want a new TLX Type S, the starting price is $53,325. Tack on the High Performance Wheel & Tire Package, and the price goes up to $54,125. YouÂ’ll probably want the wheel and tire package, too. The standard tires are Pirelli Cinturato P7 all-season tires, whereas the upgrade rubber gives you Pirelli P Zero summer tires. Those P Zeros are wrapping lighter wheels that save 5.8 pounds at each corner. The design is also inspired by the five-spoke wheels on the Acura NSX, so youÂ’ll be going faster and looking cooler. We have a feeling that itÂ’s $800 well spent. Related video:

Autoblog's Editors' Picks: Our complete list of the best new vehicles

It's not easy to earn an “EditorsÂ’ Picks” at Autoblog as part of the rating and review process that every new vehicle goes through. Our editors have been at it a long time, which means weÂ’ve driven and reviewed virtually every new car you can go buy on the dealer lot. There are disagreements, of course, and all vehicles have their strengths and weaknesses, but this list features what we think are the best new vehicles chosen by Autoblog editors. We started this formal review process back in 2018, so there's quite of few of them now. So what does it mean to be an EditorsÂ’ Pick? In short, it means itÂ’s a car that we can highly recommend purchasing. There may be one, multiple, or even zero vehicles in any given segment that we give the green light to. What really matters is that itÂ’s a vehicle that weÂ’d tell a friend or family member to go buy if theyÂ’re considering it, because itÂ’s a very good car. The best way to use this list is is with the navigation links below. Click on a segment, and you'll quickly arrive at the top rated pickup truck or SUV, for example. Use the back button to return to these links and search in another segment, like sedans. If youÂ’ve been keeping up with our monthly series of the latest vehicles to earn EditorsÂ’ Pick status, youÂ’re likely going to be familiar with this list already. If not, welcome to the complete list that weÂ’ll be keeping updated as vehicles enter (and others perhaps exit) the good graces of our editorial team. We rate a new car — giving it a numerical score out of 10 — every time thereÂ’s a significant refresh or if it happens to be an all-new model. Any given vehicle may be impressive on a first drive, but we wait until itÂ’s in the hands of our editors to put it through the same type of testing as every other vehicle that rolls through our test fleet before giving it the EditorsÂ’ Pick badge. This ensures consistency and allows more voices to be heard on each individual model. And just so you donÂ’t think weÂ’ve skipped trims or variants of a model, we hand out the EditorsÂ’ Pick based on the overarching model to keep things consistent. So, when you read that the 3 Series is an EditorsÂ’ Pick, yes, that includes the 330i to the M3 and all the variants in between. If thereÂ’s a particular version of that car we vehemently disagree with, we make sure to call that out.