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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

Honda's Acura NSX masterstroke: building the factory in Ohio

When Honda announced it was going to build its NSX supercar in Ohio instead of Japan, it caught everybody in the industry by surprise. No one expected this proud Japanese company to build its most technologically advanced sports car anywhere but in its home country. Now Honda has a supercar production facility in rural Ohio that would be the envy of any Formula One team. The people at Honda call it the PMC, but its official name is the Performance Manufacturing Center. It's a building that started out as a shipping facility for suppliers, but Honda invested $70 million to transform it into a showcase facility that will build the NSX. Honda benchmarked the assembly operations at Ferrari, Lamborghini, McLaren, and Bentley before work began on its facility. The 200,000 square-foot building will also double as a customer reception center – Honda will open the doors for customers to come see their car being built. It's also going to offer them high-speed test drives at the gigantic Transportation Research Center just down the road. No one expected this proud Japanese company to build its most technologically advanced sports car anywhere but in its home country. Inside, the layout is wide open and well lit. There are no stripes or lines on the floor and none of the different departments are walled off. This creates a more welcoming appearance and lets you get a comprehensive view of the entire process at a glance. And with an eye towards future lessons learned, most of the equipment is of a modular design that can be easily reconfigured or moved. The body shop and paint shop are enclosed by glass walls so that anyone can see what's going on inside. And while you'll see some automation here and there, the idea was to achieve a blend between man and machine, not to try and automate everything. This is a low-volume facility with production targeted at only eight to ten cars a day. The plant runs four days a week with one ten-hour shift. Don't expect to see rows of new NSXs parked on any dealer's lot. The car will only be built to order. Honda is obsessed with ensuring the NSX is built to the most exacting quality standards. The plant people pored over the JD Power Appeal study to determine what supercar customers care about the most, then looked at which aspects of that directly tie into manufacturing. They developed their quality control strategy with three goals in mind. First, they wanted to build everything right the first time with no adjustments.

2019 Acura ILX first drive | New looks, same lackluster performance

Acura knows what it takes to make a fun, compact car that enthusiasts desire. It did so for three decades with the Integra, which eventually morphed into the still fun RSX. Then the ILX came around for the 2013 model year, and the world collectively yawned. It's actually still yawning, and the 2019 redesign isn't doing a whole lot to change that. One might expect more wholesale changes from a car entering its seventh year on the market, but we're still staring down the barrel of the same 201 horsepower 2.4-liter naturally aspirated four-cylinder and trick dual-clutch automatic transmission (which also features a torque converter for low-speed smoothness) from before. These pieces aren't necessarily the problem though. It's enjoyable to thrash the engine out to 7,000 rpm, and the dual-clutch snaps off surprisingly quick shifts when using the paddles in manual mode. It's a bit of a throwback to before all of Honda's performance engines switched to turbocharging for power. It pulls harder the more you wring it out, and begs to be paired with a slick-shifting six-speed manual like it was in the ninth-gen Civic Si. Sadly, everything else outside the powertrain (still) just misses the mark. The greatest part of Acura's old performance compacts was how they made you feel when you were driving them. There was an intimate connection between the driver and road at all times that is sorely lacking from the ILX. Turn in feel is soft and doesn't offer satisfying quick changes of direction. The old chassis feels its age in controlling body movements too. It all culminates in making the ILX feel like a larger car than it actually is. That's not to say the ILX handles poorly, though; it simply does so without any eagerness or feel — just like it has from the beginning. This is unfortunate because the ILX looks better than it ever has. Acura re-did the whole front nose from the A-pillar forward, and it attacked the rear fascia too. We got to check out and drive A-Spec trimmed cars, which add even more aggression to the styling but no performance upgrades. Sure there's three-too-many fake air vents, but the car finally grew some teeth compared to the ultra-bland looks from before. Props for not following the terrible industry trend of totally unreasonably-sized fake exhaust outlets too. The interior isn't as exciting.