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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

Daily Driver: 2016 Acura RLX Sport Hybird

Daily Driver videos are micro-reviews of vehicles in the Autoblog press fleet, reviewed by the staffers that drive them every day. Today's Daily Driver features the 2016 Acura RLX Sport Hybrid, reviewed by Seyth Miersma. You can watch the video above or read a transcript below. And don't forget to watch more Autoblog videos at /videos. Show full video transcript text [00:00:00]Hi y'all. This is Seyth with Autoblog. I am driving the 2016 Acura RLX Sport Hybrid SH All-Wheel Drive, or SH-AWD, as we like to call it. Any way you slice it the name is a mouthful. This version of the RLX, the hybrid, incorporates an all-wheel drive system that includes three electric motors: one up front, two in the rear turning the rear wheels in [00:00:30]addition to the 3.5-liter gasoline engine. Now, that powertrain effectively makes it the performance version, hence the sport, of the RLX line. It's got a total system output of 377 horsepower, and 341 pound feet of torque so there's plenty of go juice in this hybrid. Clearly Honda had some performance in mind when they were putting this system together in addition to the sort of typical hybrid good gas mileage. It's rated at 28 MPG in the city, and 32 on the highway. [00:01:00]I've been seeing around 28 in two days worth of driving so far, and playing around with it. It's not the fuel-sipper that you're going to buy ... not a car that you're buying for economy exclusively. The good news is that when you really get into it, the car does feel quite quick. You still have that electric torque so you're really getting a lot of torque push from the rear wheels. You really do feel like kind of a performance all-wheel drive experience [00:01:30]more than a front-wheel drive experience like you get in the typical RLX. Now, it's not a sports sedan. It's pretty squishy. There's not much steering feel. Really throwing it from bend to bend isn't that rewarding. The car that I'm driving today is loaded out to around $67,000. I think you can spend a little bit more than that if you really try, but it kind of is at the top end of the RLX range. I feel like everything does come together kind of neatly. I don't think that this interior is going to feel very old in a couple of years. I think it'll age pretty well because it's a [00:02:00]conservative design frankly. The downside is that, unlike some cars, particularly a lot of the new Mercedes coming out right now, nobody's going to sit down in this RLX and think, "Wow.

Jeep Moab Concepts, Rumors, And More | Autoblog Podcast #470

Episode #470 of the Autoblog Podcast is here. This week, Dan Roth, Chris Bruce, and Brandon Turkus talk about this year's concepts for the Easter Jeep Safari in Moab, rumors of a mid-engined Subaru sports car and the looming reveal of the next Impreza. We also cover more rumors of a simpler Acura NSX, and some other tidbits, including Ford's movie projector patent and the Opel Astra winning the European Car of the Year award. As always, we start with the Autoblog Garage and wrap up by answering your questions. Check out the rundown with times for topics, and thanks for listening! Autoblog Podcast #470 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics 2016 Easter Jeep Safari concepts Mid-Engine Subaru rumors Non-hybrid Acura NSX 2017 Subaru Impreza to be revealed at NYIAS Ford patents in-car movie projector Opel Astra is 2016 European Car of the Year In The Autoblog Garage 2016 Mercedes-Benz C450 AMG 2016 BMW X1 xDrive28i Hosts: Dan Roth, Chris Bruce, Brandon Turkus Rundown Intro and Garage – 00:00 Jeep Concepts - 21:57 Mid-Engine Subaru - 38:45 Acura NSX - 43:18 Subaru Impreza - 44:59 Ford Projector - 47:48 Astra ECOTY - 49:50 Q&A - 52:09 Total Duration: 58:11 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Podcasts Acura Ford Jeep Subaru Opel easter jeep safari acura nsx type r