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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

2019 Acura NSX gets a refresh and an eye-catching new color

After two model years and about 1,000 deliveries to the U.S., Acura's given the 2019 model a few enhancements and a small price bump. The car debuted at The Quail, A Motorsport Gathering, during the festivities surrounding Pebble Beach. While there are no major powertrain changes, some new color options and a few chassis refinements will be appreciated by NSX fans. Let's start with the hardware, since this is a sports car, after all. Most important, there's new all-season rubber, still Continental SportContacts but the next version thereof — the 6. Acura claims better handling in all conditions, and the way tire technology has been improving, we'd believe it. The optional Pirelli Trofeo Rs remain — and remain highly recommended for anyone looking to sample the NSX on track, which is an exhilarating experience. Acura says the rest of the enhancements we'll mention shaved a full two seconds off the car's time at Suzuka, so take that for what it's worth. They consist of a 26 percent stiffer front sway bar and 19 percent stiffer rear bar; 21 percent stiffer rear toe link bushings; a 6 percent stiffer rear hub; and a new software calibration for the computer controlled bits: the SH-AWD system, magnetorheological dampers, electric power steering, and stability control systems. For a car as precisely engineered as the NSX, these are relatively significant improvements. Don't necessarily expect it to shave two seconds off your personal best lap time, but if you're highly attuned to the chassis dynamics, the '19 NSX should offer more precise and direct feedback to the driver. No need to be precisely attuned to the cosmetic changes — they're pretty obvious. Thermal Orange, a new exterior color, and the chrome beak-ectomy (it's not body colored) crown the exterior changes. Inside, the leather/Alcantara combo seats are now available in blue, and the full leather seats can be had in red. While the price for the 2019 model has gone up by $1,500, Acura says that there's now $4,700 in formerly optional equipment (power seats, satnav, premium audio, parking sensors, and sport pedals) included as standard equipment. That sounds like a good deal to us. If you want one, the order books are open and cars will be delivered starting in October. Related Video:

Honda trademarks 'CDX' nameplate

Less than two weeks ago, we discussed the possibility of an Acura-badged version of the sure-to-be popular Honda HR-V. Now, Acura has gone ahead and registered a new trademark that fits in perfectly with its two other crossovers, the RDX and MDX. Our friends at Auto Guide report the company has reserved the name "CDX" with the US Patent and Trademark Office, with the trademark covering "automobiles and their structural parts." While it's true that these kinds of trademarks are filed regularly, the timing in this case is indicative of something more than simply covering bases. After all, it seems very, very unlikely that we'd have comments from Acura on a premium version of the HR-V on February 5 and a trademark filing for a name that fits the brand's CUV nomenclature less than two weeks later, only for it to not go ahead and build an actual vehicle. Adding to that logic is the simple fact that the compact CUV market, both on the premium and mainstream level, is arguably the hottest in the auto industry right now, and it seems like a virtual guarantee that we'll see an HR-V wearing the Acura CDX name in the not-so-distant future. Should that come to pass, look for the CDX to challenge the near-premium Buick Encore, as well as a potential compact CUV from Infiniti. Featured Gallery 2016 Honda HR-V View 25 Photos News Source: Auto GuideImage Credit: Honda Government/Legal Acura Honda Crossover Economy Cars Luxury trademark honda hr-v