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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 RLX will die after 2020 model year

Only Acura knows why its flagship RLX sedan is still on sale; every year that we had occasion to remember the RLX — which wasn't every year — seemed like a good year to let the car die peacefully. Automotive News reports the deed is finally done, or rather, will be at the end of 2020, when Acura discontinues the model that started with the RL in 1996. Honda told U.S. dealers yesterday that in other markets like Japan, the four-door will continue to sell as the Honda Legend. Honda's comment to AN included, "With SUVs leading the luxury market, the highly successful RDX and MDX now serve as volume leaders of the Acura brand," and, "We will further strengthen our sports sedans, consistent with the performance-focused direction we have been taking Acura over the past four years." Speaking of the devil, the RL and RLX — and Acura as a brand — never got out from under the weight of the Legend sedan, that ancestor being the second of Acura's three albatrosses after the original NSX and the Integra. The RL never equaled the Legend's worst year of U.S. sales. The RLX, a combination of arousing performance under anodyne styling costing premium German money, might have performed the same feat viz the RL, but the RL sold less than 5,000 units here for the last five years of its life. The RLX has only exceeded 5,000 sales once, in 2013. Last year, 1,019 units found buyers.  Acura's focus now is the NSX halo and the continuing overhaul of the volume lineup. The new RDX is going great guns, the new MDX crossover is due this year. The slightly larger and Type S concept-inspired TLX sedan is expected to be another gift to 2020, followed by the return of a bona fide Type S next year, after which the ILX compact sedan gets its turn. Last year was the first time in five years the TLX dipped below 30,000 sales in the U.S., impressively steady going for a segment with shocking attrition. Although the demise of the RLX gives up on the aspiration for a big luxury flagship, the coming TLX should help us forget what the RLX represented. If we hadn't already.

2019 Acura RDX to race in Pikes Peak Hill Climb

Acura just launched the 2019 Acura RDX crossover, and what better way to kick things off than a little motorsport? That's right, Acura will be racing a modified RDX in none other than the Pikes Peak International Hill Climb. It's Acura's seventh consecutive year participating in the daring ascent, which sees 156 turns over the course of 12.4 miles. On June 24, the RDX will attempt the climb to the summit's elevation of 14,114 feet. To help its Exhibition Class run, the RDX's 2.0L VTEC engine has been given a larger turbocharger and an electric supercharger, which brings output up to 350 horsepower and 330 pound-feet of torque. The vehicle also benefits from race-tuned suspension, custom 19-inch wheels and Pirelli racing tires, and front Brembo brakes. Behind the wheel will be by Jordan Guitar of Acura R&D's North American Chassis Development Group. The RDX will be joined at the race by three other Acuras: a production-based NSX competing in the Time Attack 1 Class, and two TLXs in the Open Class. One is a TLX A-Spec with an upgraded suspension and 500-horsepower turbo V6. The other is a TLX GT with a modified twin-turbo V6 and suspension developed specifically for Pikes Peak. Related Video: