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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 recalls more than 750,000 vehicles to fix faulty seat air bag sensor

DETROIT — Honda is recalling more than three quarters of a million vehicles in the U.S. because a faulty sensor may cause the front passenger air bags to inflate when they're not supposed to. The recall covers certain Honda Pilot, Accord, Civic sedan, HR-V and Odyssey models from the 2020 through 2022 model years, as well as the 2020 Fit and Civic Coupe. Also included are the 2021 and 2022 Civic hatchback, the 2021 Civic Type R and Insight, and the 2020 and 2021 CR-V, CR-V Hybrid, Passport, Ridgeline and Accord Hybrid. Affected models from the Acura luxury brand include the 2020 and 2022 MDX, the 2020 through 2022 RDX and the 2020 and 2021 TLX. Documents posted Tuesday by the U.S. National Highway Traffic Safety Administration say that the front passenger seat weight sensor may crack and short circuit, and fail to turn off the air bag as intended. The sensors are required to disable the air bags if children or small adults are in the seats. If that doesn't happen, it increases the risk of injury. Dealers will replace the seat sensors at no cost to owners. Owners will be notified starting March 18. Honda says in documents that it has 3,834 warranty claims but no reports of injuries or deaths from the problem between June 30, 2020 and Jan. 19 of this year. Featured Gallery 2020 Honda CR-V Hybrid View 40 Photos Green Recalls Acura Honda

Acura gives us a lightning-quick glimpse of the NSX Type S

Acura released a short preview film to give fans a fast-paced look at the limited-edition NSX Type S. Scheduled to break cover tomorrow, August 12, it's being boldly presented as the final evolution of the second-generation model. The eight-second flick posted on various social media channels provides us with a peek at the Type S' front end. It shows two cars speeding towards the camera down what looks like a race track's main straight. Acura wants to keep the Type S under wraps until its big debut, so the footage gets blurry as the cars speed by; that's why it's called a teaser. We nonetheless think we can squint and discern a redesigned front end with larger air intakes.  Acura might have chiseled bigger vents into the front bumper because the Type S needs additional cooling air. It's powered by a mid-mounted engine, but there are radiators located right behind the front bumper in the regular-production model. Of course, we're not discounting the possibility that the vents were merely added for show. As we previously reported, the visual changes will also include a red engine cover and black exterior accents. Additionally, the Type S will offer more power than the standard, 573-horsepower NSX and sharper handling. Acura will build 350 units of the NSX Type S, and 300 of those have been earmarked for the American market. The model will make its public debut on August 12 on the sidelines of Monterey Car Week, so we won't have to wait long to learn about the improvements the company has made. If you want one, act fast; if you want the first one, bid high. Serial number one will be sold to the highest bidder at Mecum's Monterey sale on August 14, 2021. The proceeds from the sale will benefit a number of charities. As for what's next, nothing suggest there's a third-generation NSX on the way, but the GT3-spec race car will soon receive a round of updates and it might continue racing until 2024. Related video: