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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

19% of Acura Integras have been sold with a manual transmission

While you'll need to wait another week to read our review of the upcoming 2024 Acura Integra Type S, there is a nice little nugget of information we can share in the meantime. Between May 2022 and April 2023, Acura reports that it sold 19,643 Integras. According to the figures Acura shared, so grain of salt, that is grossly more than other entry-level luxury sedans: the Audi A3 (8,866), Mercedes-Benz CLA (6,656) and BMW 2 Series Gran Coupe (3,913). Update: Acura confirmed to us since this was originally posted that the A3 numbers also includes S3 and RS 3. The thing that most piqued our interest, however, was Acura saying that 19% of those 19,643 Integras came with the six-speed manual transmission. Now, that's a colossal change from the earliest days of Integra orders when the manual take-rate was hovering around 70%. Clearly, late adopters weren't as eager to row their own. It's also important to note that the manual is exclusively tied to the loaded A-Spec with Technology package, so it's effectively a pricey option.  While 19% — roughly 3,732 units — may not seem like a lot, it's actually not bad these days, and not that far off the entire 2 Series Gran Coupe lineup. That number is also about to go up since the Type S is exclusively available with a six-speed manual.  A few other sales-related Integra tidbits: It has the youngest buyers in the segment, as defined by those cars listed above, with 36% being younger than 35. Also, about 70% of buyers were of the "conquest" variety, meaning they were former Spanish Conquistadors. Wait, what's that? Oh, that makes more sense: So 70% of Integra buyers previously owned a car that wasn't an Acura, although when asked, Acura mentioned that it was possible that the buyers in question owned an Acura at some point in the distant past (you know, like an Integra) and were making a return to the brand.

Honda and Acura render their future visions for Shanghai

With the Shanghai Motor Show coming up later this month, Honda has released a couple of teaser sketches for two concept vehicles that will be making global debuts. Aside from the renderings, there is no information about either the Honda or Acura concept vehicles, but we can tell that both are some sort of utility vehicle, be they of crossover or people-mover variety.
The text for both images indicates that both concepts show future products that will be launched in China, but there is no mention as to what other markets the automaker has planned for these vehicles. In addition to these two concepts, the NSX Concept and 2014 RLX from Acura will make their Chinese debuts, and Honda says it "will display models substantially identical to the mass-production version of the Concept C and Concept S." The Concept C is will be a "middle-class" sedan built for China, and the Concept S, an MPV that will primarily serve China as well.