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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

2020 Hyundai Palisade vs. Ascent, Pilot, Highlander and CX-9: How they compare on paper

We've finally had our first drive of the 2020 Hyundai Palisade and found it to be well-equipped for sales success. It nails the formula that some of the most successful three-row crossovers have, the aforementioned seating capacity, high driving position, all-wheel-drive availability and a V6 engine. Of course, it also offers a unique and menacing-looking exterior that ought to stand out in the parking lot. To dig deeper into how it compares to other three-row family crossovers, we've fired up the old Autoblog Comparo Generator 3000 (™) and lined the all-new 2020 Palisade up against the 2019 Subaru Ascent, 2019 Honda Pilot, 2019 Toyota Highlander and 2019 Mazda CX-9. Besides being two of last year's best-selling three-row SUVs, the Pilot and Highlander are also the closest in general concept to the new Palisade, while the Ascent and CX-9 also offer a comparable turbocharged four-cylinder powertrain. The CX-9 is also one of our favorites in the segment, and the Ascent is one of the newest entrants on the scene. There are of course numerous other worthy contenders, including the Chevrolet Traverse, GMC Acadia, Volkswagen Atlas, Nissan Pathfinder, Hyundai Santa Fe and the best-selling Ford Explorer, so if you want to see their specs, check out the Autoblog compare tool. Performance and fuel economy The Subaru, as is so often the case, is the oddball. It has a 2.4-liter turbocharged horizontally opposed four-cylinder (aka a flat-four or a boxer-four) that produces a comparatively modest horsepower rating, but a greater amount of torque. That's typical for turbocharged engines such as Mazda CX-9's turbo inline-four that produces 250 horsepower on premium fuel (227 hp on 87 octane) and 310 lb-ft of torque (the VW Atlas also offers a base turbo-four). The Hyundai, Honda and Toyota, meanwhile, go about it the old-fashioned way, with naturally aspirated V6 engines displacing 3.8 liters in the Hyundai, and 3.5 liters with the two Japanese crossovers. The Toyota and Hyundai lead the pack in horsepower, with the Toyota taking top honors by just 4 horses. The Honda weighs less, though, so their acceleration should be comparable. The Subaru actually accelerates on par with its V6-powered competitors, probably due in part to its continuously variable transmission. The fuel economy trophy goes to the Ascent.

Honda teases racing motorcycle-powered concept for Frankfurt

With upcoming models like the next-gen Civic and NSX, Honda is working to return to its performance glory days. We'll see one more manifestation of that desire at the upcoming Frankfurt Motor Show with the Project 2&4 concept. The single teaser image leaves the styling to anyone's guess, but the vehicle is powered by the potent 1.0-liter V4 from the RC213V MotoGP race bike. Stuffing the high-strung motorcycle engine into the car should at least make a great noise. Unfortunately, Honda is keeping the details very scant in the teaser. The Project 2&4 has no cabin and is meant to combine "the freedom of a motorcycle and the maneuverability of a car." That suggests a low-slung, minimalist body with an emphasis on handling, and the image appears to show open wheels at the front and rear. The company also doesn't say whether it has the race bike's full competition engine with over 235 horsepower or the new street version with 157 hp to over 212 hp, depending on the spec. The Project 2&4's shape is the result of a global competition among the brand's studios. The winning design is the result of cooperation from the motorcycle stylists in Asaka, Japan, and the automotive team in Wako, Japan. We're curious to see what it actually looks like in Frankfurt. Honda to Showcase Re-energized Model Range at 2015 Frankfurt Motor Show Honda 2015 model range of entirely all-new and refreshed cars Global premiere of Honda Project 2&4 powered by RC213V, modified for public road use, showcasing Honda's uniquely creative engineering Honda UNI-CUB ? to make its German debut August 26, 2015 - The 2015 Frankfurt Motor Show underlines an important year for Honda and will see the brand presenting its new model range of entirely refreshed and all-new cars displayed together. Alongside the new line-up, Honda will also showcase design concepts and advanced technologies, all demonstrating Honda's unique creativity in meeting the personal mobility challenges of today and the future. Honda Project 2&4 Powered by RC213V – embodiment of creativity and craftsmanship The 2015 Frankfurt Motor Show will witness the global premiere of 'Honda Project 2&4'. A winner of the global design competition run by Honda between its global design studios, Honda Project 2&4 represents the company's drive to inspire and reward creative thinking.