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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 Integra is reborn, so here's a look at its past

The Acura Integra is officially making its return in 2022. No joke! We’re stoked, too. ItÂ’s a return to the nameplate for Acura — we havenÂ’t seen it grace any cars in the U.S. since 2001. Although the Acura RSX (that was sold here) built 2002-2006 was named the Integra everywhere else but America. Now that we know “Integra” is coming back after 20 years off, though, itÂ’s time to take a stroll through Acura Integra history. That history begins with the launch of Acura as a brand, because the Integra was one of the first two models that Acura came to America with — the Legend was the other. 1986-1989 — First generation The first Integra didnÂ’t see a long model run, as it lasted for just four model years. It was too early to incorporate HondaÂ’s soon-to-come VTEC engine technology, but that doesnÂ’t mean it didnÂ’t come packed with awesome features and tech. Acura actually offered two hatchback options — a three-door and a five-door — and a traditional four-door sedan. The only engine option was a 1.6-liter four-cylinder with a DOHC design that revved out to an impressive 7,000 rpm. It made 113 horsepower and just 99 pound-feet of torque for the first two model years, but a mid-cycle refresh saw output increase to 118 horsepower and 103 pound-feet of torque for the 1988-89 model years. Both a five-speed manual and four-speed automatic were available. It was a sportier car than the Civic at the time, and since Acura is the luxury arm of Honda, it featured a slightly nicer interior. ItÂ’s a rare sight to see first-generation Integras on the roads these days, as rust and time have slowly removed them from AmericaÂ’s highways. No matter, as this Integra kickstarted the sporting and fun-to-drive spirit that would be found in those to come. It was a lightweight, high-revving compact car that helped Acura get off the ground. 1990-1993 — Second Generation Just like the first generation, the second-gen Integra saw just four model years of production. Acura dropped the five-door hatchback offering, instead opting to limit the car to a three-door hatchback and four-door sedan. The styling saw some fairly big changes, as the pop-up headlights were dropped, and the hatchback looked more like a two-door coupe in its silhouette. Performance got a big boost, as Acura upgraded to a 1.8-liter four-cylinder that made 130 horsepower and 121 pound-feet of torque.

Five signs Honda cares about enthusiasts, again

It's a great time to be an enthusiast. From high-horsepower Hellcats to the purist BRZ, engaging automobiles are found in nearly every segment of the market. Everyone wants to join the performance parade. Everyone it seemed, but Honda. The company that built some of Formula One's most successful engines, helped launch the tuner market and gave the world a seminal supercar, has watched competitors of all stripes surge by it for the hearts, minds and dollars of enthusiasts. Until now. Honda put the rest of the auto world on notice at the New York Auto Show, revealing a jaw-dropping Civic concept, confirming the Type R will come to the United States and even adding a hatchback to the 2016 Civic line. Throw in the Acura NSX and much-improved ILX for Honda's luxury sibling, and it's undeniable the company is regaining its swagger. Once again, Honda is serious about performance, and here's five reasons why enthusiasts should believe. The Honda Civic Concept Looks Great We're psyched about the Civic concept, which was a surprise reveal earlier this month at the New York Auto Show. Clad in bright neon green, the concept edged out the Lincoln Continental for first place in our Editors' Choice awards at the show. As Editor-in-Chief Sharon Carty put it, "The color hurts so good." Yes, the green is blinding, but you don't have to squint to see the 10th generation of the Civic. Honda's concepts are the real deal, and this is the car (mostly) that will launch this fall. It's attractive, with a long hood, curvaceous sides and a simple but sporty grille. The powertrain lineup will include a 1.5-liter VTEC turbo four-cylinder paired with a six-speed manual, which should be a treat for enthusiasts. With its fresh looks and intriguing mechanicals, the concept previews an everyday driver you can get excited about. Obviously, we are. The Hatchback Returns Yep, the Civic is getting a five-door hatch in the United States. It's been a while. Honda last offered a Civic hatch for a brief time in the mid-2000s, and only as the lower-volume Si model. The new hatch will be produced at Honda's factory in the United Kingdom and imported to the United States. That's a win-win for Honda: it's using excess capacity in the UK to satiate a niche market for US buyers. The annual hatch production is reportedly expected to be 30,000 to 40,000 units, which is a drop in the bucket for the Civic lineup and its massive though declining sales.