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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 and Acura add garage door control to Apple CarPlay, Android Auto

You’ll soon be able to use Apple CarPlay or Android Auto in your Honda or Acura to open and close your garage door. ItÂ’s a new feature made possible through a partnership with the Chamberlain GroupÂ’s myQ Connected Garage service. Honda says that all of its 2023 and 2024 model year vehicles will be compatible with this new tech, but it also says that “millions of older Honda and Acura models supporting Apple CarPlay and Android Auto also have compatibility.” ThatÂ’s especially great to hear that the convenience is not just going to be limited to brand-new models. As for how it works, the system is fairly straightforward. You can set a geofence that will automatically prompt you with a system notification when you get within a certain distance of your garage. Follow the onscreen instructions to open, and your garage door will do as you command. The same can be done to close your garage door. For this tech to work, Honda says that youÂ’ll need a compatible garage door opener, but thereÂ’s a good chance you already do because myQ is compatible with most openers on the market today from LiftMaster and other Chamberlain brands. If your opener is already myQ enabled, then you wonÂ’t need to do anything. However, if you have an older style, Honda says you can use a “myQ Smart Garage Control device” to upgrade it into one. Honda is offering everybody one for free if you sign up for its 30-day demo subscription of the service, so donÂ’t worry about having to buy one. However, if you do wish to continue beyond that 30-day free trial, a three-year subscription costs $129, while a five-year subscription will run you $179. The real benefit to this system is that youÂ’ll be able to open and close your garage door from anywhere, not just within the range of where your opener or car-linked button will work. Of course, myQ has a phone app that will do the same, but this allows you to do the task directly through the carÂ’s interface without needing to yank out a phone. Honda says this tech is functional as of today, so go ahead and try it out if you have all the necessary garage door tech in place.

Weekly Recap For 7.29.16 | Autoblog Minute

A recap of the week in automotive news, including the latest video of Acura's NSX GT3, and the IIHS' most recent Top Safety Pick+ award recipient. Acura Hyundai Autoblog Minute Videos Original Video autos gt3 recap acura nsx gt3