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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 NSX prototype gets back on track

Developing a new vehicle is not without its complications, we're sure, but usually things follow a fairly predictable progression: you develop a prototype, you test it, test it and test it again, then you put it into production. What you don't expect is that your prototype will burn to the ground, but that's what famously happened to the NSX which Honda engineers were testing a few months ago.
Fortunately, the Acura NSX prototype is back on track, both literally and figuratively, as you can see from this latest batch of spy shots snapped at the Nürburgring. This camouflaged prototype looks pretty much the same as the last one, only, you know... less crispy. Which is to say, it looks pretty much ready to hit showrooms.
The naysayers may point out that Honda chose colder and damper weather to put the NSX back into testing - thereby mitigating the risk of another fire - but we're sure the Japanese automaker has been working hard to fix the flammability issues, whatever may have caused them, over the past few months. At least, we hope they have.

There will be a third-generation NSX, says Acura V.P.

The second-generation Acura NSX might be going out in a blaze of glory, but it won't be the last we see of the supercar. This promise comes directly from Acura Vice President and Brand Officer Jon Ikeda. Furthermore, Ikeda implied that the next version might be electric. Ikeda divulged thoughts about a third-gen NSX while being interviewed by The Drive and Motor Trend. To the former, he explained Acura's mission with the the mid-engined supercar. "We make an NSX when there's something we want to say. The first-gen was gas. Second-gen was a hybrid. There's gonna be another one." Unless Ikeda is talking about hydrogen or some kind of heretofore undisclosed technology like  Mr. Fusion, this pretty much means electric. That means the NSX is likely to take another hiatus after the Type S closes out the 2022 model year. Between the first and second generations, the halo sports car had an 11-year absence on the market. Ikeda laid out the reasons for the nameplate's 2016 return when he spoke to Motor Trend. "Honda is one of the biggest gasoline engine makers in the world and needed to see what will happen in a world turning away from engines," he explained. It was always meant to be a halo car. "We didn't go into it to make a lot of money," he stated. The second generation had a much shorter lifespan than the game-changing first gen. That one spanned one and a half decades, from 1990 to 2005. The current generation, once it exits stage left in 2022, will have only had a six-year run. One could argue that the first gen overstayed its welcome, though. After thoroughly turning the supercar world on its ear, by forcing Ferrari et al to reconsider their engineering, the NSX's competitors quickly caught up to Honda's lead. While the NSX did undergo a couple of major changes during its first lifespan, by the time it left the market it was more of a dwindle. Acura is determined not to let that happen with the current NSX. In this case, they're sending it off with the most powerful iteration yet, a 600-horsepower Type S with reworked turbos, cooling system and aerodynamics and limiting production to 350 worldwide. Ikeda told Motor Trend, "We didn't want to let the NSX die on the vine either. To go quietly into the night is not what it deserves."