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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

Is the Acura Legend coming back?

Great news for fans of the Acura Legend: Honda has applied for a trademark in Europe for the word "Legend," pertaining to "Vehicles; Apparatus for locomotion by land; Apparatus for locomotion by air; Apparatus for locomotion by water; Parts and fittings for land vehicles; Parts and fittings for air and space vehicles; Parts and fittings for water vehicles." This trademark was first spotted by AutoGuide.com, and gives more credence to our speculation from a couple months ago about the possibility of the Legend nameplate returning to the Acura lineup in the States. If you were reading closely before, you'll notice that it was actually Honda that applied for the trademark, not Acura. The Legend was sold with a Honda badge on it in Europe back in the day, so this trademark filing in Europe makes perfect sense. In our previous report, we put forth the idea that Acura could bring the Legend name back with a successor to the RLX flagship sedan. Specifically, we were thinking that Acura would use the four-door coupe form previewed by the Acura Precision concept. That story also suggested a new Legend flagship could debut during Monterey Car Week. The 1986 Legend sedan was one of Acura's first two vehicles when the brand launched (the other being the Integra). It had a smooth 2.5-liter V6 that made all of 151 horsepower at the time. A sweet-looking coupe soon followed the sedan. The name Legend would be applied to a second-generation, which is arguably the one best-remembered. The coupe in particular has lived up to its name. Much of that legendary status, though, is the result of what followed: the Legend name and coupe body style dying for 1996 in favor of the RL, a four-door sedan as bland as its name. Acura's flagship has never recovered. We'll be quite pleased if Acura ultimately decides to reveal a totally new Legend to blow us away in Monterey. The return to actual names for the lineup would also be lovely. It's certainly working for Lincoln. Now if they'd only trademark "Integra" ...

1997 Acura SLX gets 350 actual Acura horsepower for Radwood

For the Radwood Orange County, Calif., car show, a show themed around 1980s and 1990s cars, Acura is bringing a variety of its original models including a 1991 NSX and a 1986 Integra. The company is also bringing something obscure, a 1997 Acura SLX, the brand's first SUV, offered from model years 1996 to 1999. In some ways, it's something Acura might not want to highlight, since it's really a rebadged Isuzu Trooper, just as the original Honda Passport was a rebadged Isuzu Rodeo. But this SLX is special; it has real Acura power under the hood. The project was led by Acura engineers and Pikes Peak racing drivers James Robinson, Paul Hubers and Jordan Guitar, and the frame and body restoration as well as the powertrain swap was done entirely in-house at Honda R&D in Ohio, according to Acura rep Andrew Quillin. The team pulled out the original naturally aspirated 3.2-liter V6 that made just 190 horsepower and 188 pound-feet of torque, and dropped in a turbocharged 2.0-liter inline-four from a new Acura RDX. That engine also received a new intake, exhaust, turbo and ECU tune, which brought power up to an estimated 350 horsepower and 340 pound-feet of torque, similar to the Graham Rahal Performance RDX. Not only that, but the old-school four-wheel-drive system and live rear axle were dropped in favor of the RDX's indpendent suspension and torque vectoring "Super Handling All-Wheel Drive." "Dropped in" is a mischaracterization, though, as Acura had to weld new subframes front and rear to the existing frame to get the transverse engine and modern suspension to fit. Acura was careful to keep the SLX looking as close to the original as possible. On the outside, Acura repainted the SLX in a modern red paint available on the RDX, but retained the champagne lower moldings. The stock wheels were replaced with 17-inch Fifteen52 wheels, but they have a very similar design and finish to the original wheels. A hard-shell spare tire cover was added, and a simple "SH-AWD" badge on the back is the only hint at what's under the body. The interior was restored at the company's L.A. design studio, where the upholstery was redone in a gray "gathered" leather like you would have seen when it was new. A bit of gray wood trim updates the interior slightly. The RDX's push-button starter and shifter buttons have been added to the center console, shift paddles behind the original steering wheel, and an aftermarket instrument cluster mounted to the steering column.