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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 GT3 non-hybrid racecar on sale soon

Just over a year ago, Acura debuted the NSX GT3, the FIA GT3-spec racecar based on the automaker's latest and greatest. While it took years for the road car to hit the streets, the NSX GT3 was developed in a relatively short amount of time. This year, the car competed in several races under the factory banner, racking up 50,000 miles and two race victories. Today, Honda and Acura announced the NSX GT3 will go on sale for private teams. Think of the NSX GT3 as a stripped out version of the standard NSX sans hybrid system. The 3.5-liter twin-turbo remains, but, since there are no electric motors up front, all the power is sent to the rear wheels through a XTRAC semi-automatic 6-speed sequential transmission. The chassis is built in Ohio right alongside the regular NSX. The same goes for the engines. The block, heads, valve train, crankshaft, pistons, and dry-sump lubrication system are the same specification as the production car. Final assembly is completed in Italy. This past year, the NSX GT3 competed under the Acura banner in the WeatherTech SportsCar Championship GTD class and the Pirelli World Challenge GT category. In addition to those series, the car is built to compete in the Blancpain GT Series and 24 Hours Nurburgring in Europe, the Super GT GT300 class in Japan, as well as other GT3-spec race series. Different divisions of Honda will be handling global sales, with HPD responsible for the North American market. US pricing hasn't been announced, but converting the European models start at about $545,000. Now we just want to see a lightened, non-hybrid version of the NSX on the street. Related Video: Featured Gallery Acura NSX GT3 View 11 Photos Image Credit: Honda Motorsports Acura Honda Coupe Racing Vehicles Performance honda nsx acura nsx gt3

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.