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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

2016 Acura NSX aimed at Ferrari 458 for the price of Audi R8

Acura has done a good job of keeping the next-generation NSX under the wraps for the past few months, especially after a fiery little incident during testing at the Nürburgring earlier this year. But UK's What Car? recently got a chance to speak with development boss Ted Klaus, and he unleashed a few new details about the much-anticipated supercar to make it even harder for us to wait.
Among the info was a strong estimate of the NSX's performance potential. "We have to achieve the type of acceleration that the customer is achieving with the Ferrari," said Klaus to What Car?. "More importantly we have to achieve this every day and also at the Nürburgring." Assuming Acura's supercar is as actually quick as a 458 Italia, then it could hit 60 miles per hour in around 3.5 seconds.
Klaus also claims that the wickedly fast performance could come at a relative bargain for the class. The price is reportedly being benchmarked against the Audi R8, which would put the NSX around $130,000 in the US. While hardly cheap, it would still be a healthy discount off a 458.

Acura TLX Luggage Test | Perfectly reasonable trunk space

The Acura TLX has a 13.5-cubic-foot trunk according to the spec sheet. That would be comparable to a typical compact mainstream sedan despite the TLX's exterior dimensions being more akin to a midsize sedan (its 194.6-inch length is right smack between a Toyota Camry and Honda Accord). Luxury cars usually sacrifice utility for style, and by adapting cab-rearward proportions for this latest generation, it shouldn't be surprising that the TLX follows the trend.  However, how much utility does the new TLX sacrifice and is the trunk still useful? Let's find out. It's a fairly deep space, but the amount of width and space behind the wheel wells is also reasonably generous and seemingly useful. As with every luggage test, I use two midsize roller suitcases that would need to be checked in at the airport (26 inches long, 16 wide, 11 deep), two roll-aboard suitcases that just barely fit in the overhead (24L x 15W x 10D), and one smaller roll-aboard that fits easily (23L x 15W x 10D). I also include my wife's fancy overnight bag just to spruce things up a bit (21L x 12W x 12D).  To start off, I lined the biggest bags on their sides to demonstrate the difference in the trunk's width relative other sedans. Only three can fit, whereas you can fit four in the majority of midsize sedans. Nevertheless, all the bags fit. That's not the case with the Cadillac CT4 or CT5, or the big fibber, the BMW 3 Series and its "17-cubic-foot" trunk.  Basically, the numbers make sense here. While it can hold all the bags, there really isn't any leftover space as there is in a midsize sedan. That said, I should note that there are plenty of compact crossovers that can't fit all these bags below their cargo covers, including the Mercedes GLC and Alfa Stelvio.  OK, one more trunk-related note. While there is a spare-tire-shaped hole under the trunk floor, there is no spare tire. Instead, you get a compressor encased in foam covering the car's battery. Putting the battery in the trunk is totally normal, but there's something a tad bootleg about this placement. It seems like an afterthought. It almost certainly has to do with engine compartment packaging and/or weight distribution, but it does mean you do without a spare tire. Or, I suppose as BMW is apt to do, extra under-floor cargo space.  Related Content