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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

2017 Acura NSX No. 1 just rolled off the line in Ohio

The 2017 Acura NSX is officially in production. NASCAR titan Rick Hendrick, who paid $1.2 million at auction for the first one, drove it off the line Tuesday at the NSX factory in Marysville, OH. VIN No. 1 wears Valencia red pearl paint. It is equipped with carbon-ceramic brake rotors, leather and Alcantara trim, and uses carbon fiber for the engine cover, roof, and rear spoiler. Top that off with upgraded wheels, and it has every available option. The NSX is powered by a 3.5-liter twin-turbo V6 that teams with three electric motors for a system output of 573 hp and 476 pound-feet of torque. It has a nine-speed dual-clutch transmission and all-wheel drive. The NSX will start at $157,800 and maxes out north of $205,000 for a fully loaded model like this one. Hendrick's heady price came from his winning bid at the Barrett-Jackson auction in Arizona in January, with proceeds going to the Pediatric Brain Tumor Foundation and Camp Southern Ground. Hendrick, owner of Hendrick Motor Sports and the Hendrick Automotive Group, has also paid hefty prices for the first 2015 Chevy Corvette Z06 and 2014 Chevy Camaro Z/28 in support of charities. The NSX launch is a milestone for American Honda, which has built cars in Ohio for more than 30 years. The NSX is assembled at the company's Performance Manufacturing Center, and the engines are hand-built at a nearby facility in Ohio. "Today marks the realization of a big dream here at the PMC and the culmination of more than 30 years of manufacturing experience and expertise here in Ohio," Clement D'Souza, engineering large project leader for the NSX, said in a statement. "Our world class team of expert technicians, through their passion, has realized major innovations in the design and manufacturing of a next-generation Acura supercar that truly delivers incredible precision-crafted performance." Related Video: Image Credit: Acura Design/Style Green Plants/Manufacturing Acura Coupe Hybrid Performance Supercars rick hendrick

Acura preps ILX for endurance racing challenge

Acura has used the occasion of this year's SEMA show to unveil a 2013 ILX that is remarkably different from the road-going car that we are familiar with. A far distance from the rather mildly performing street car, this ILX Endurance Racer is actually prepped to race at the grueling 25 Hours of Thunderhill in Willows, California.
The ILX racers (Team Honda Research has prepped two of them for the race) have actually each been constructed using two donor ILX sedans: one body-in-white chassis and one full production-spec car that donates powertrain, interior and electronic components. Overall, increasing the performance of the car was done mostly through extensive weight reduction rather than bumps in power. No figures have been given for the output of the ILX's K24Z7 engine, though we are told that a custom intake and exhaust have been fitted, as well as a racing flywheel.
A prominent LED lighting system dominates the front fascia of the ILX, along with a huge front splitter, while a massive wing speaks to the intentions of the car.