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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

Honda S2000, Acura RSX recalled over brake boosters

Honda has announced a recall that affects two of our favorite, dearly departed cars from the brand's portfolio: the S2000 roadster and Acura RSX coupe. A total of 5,239 S2000 models from the 2006 and 2007 model years are affected by this problem, as are 13,113 2006 Acura RSX models.
"A production error may have allowed brake booster components to be produced outside of the original specifications, potentially causing decreased brake assistance over time, which could increase the risk of a crash," American Honda said in a press release. Thus, dealerships will inspect and, if necessary, replace the brake booster setups in these vehicles, free of charge.
No crashes or injuries have been reported in relation to this brake problem. Honda says the problem was discovered during warranty claim analysis.

Racy, mysterious Honda spied in Spain

The next-gen Honda Civic five-door has been spotted near the IDIADA Proving Grounds in Spain, and Pistonudos was able to snap several photos of it covered in camouflage there. However, compared to the last spy shots we saw of this body, there have been some odd changes made for the latest test car. In front, the grille still wears a similar look to the pre-refresh Acura ILX like in the last photos. Although, this version might be a bit closer to production because as in the patent drawings, the air dam now sports three lower intakes. In profile, this Civic is largely the same as the earlier shots too, but now you get a better look at the tail's shape. The big, lightweight wheels and small brake discs are certainly odd on this example, though. The rear is where things get really strange because of the three exhaust pipes right in the middle of the bumper. Making things even weirder, the center one has a smaller diameter than the others. Because the Honda Civic Concept used a single, center-mounted setup, perhaps this is a way to test that design. Taken in total, this Civic test car is a head-scratcher. The bizarre exhaust layout and big wheels suggest a performance version, but the rest of the design doesn't look aggressive enough. One possible explanation is that Honda is testing a few components for the next Civic SI here. That would explain why some bits look racy but not the whole car. Related Video: