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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 to debut RLX sedan and ARX-05 racecar at Monterey

It's Monterey Car Week, culminating in the Pebble Beach Concours d'Elegance, and Acura plans to stay busy throughout, with debuts of its redesigned RLX flagship sedan and ARX-5 prototype racecar at several venues. In advance of those two reveals, Acura released two teaser videos (shown above and below), for those of us who can't make it to Pebble Beach. We told you quite a lot about the RLX last week and about the ARX-5 just before that. Sales of the previous generation have been slow, but this redesign, from its new diamond pentagon grille on back, could rectify that. Acura kicks off the week Tuesday as exclusive automotive sponsor of the Carmel-By-The Sea Concours on the Avenue, in Carmel's Devendorf Park. That's where it will debut the 377-horsepower 2018 Acura RLX Sport Hybrid. The NSX, NXS GT3 racecar, MDX Sport Hybrid and redesigned 2018 TLX A-Spec sedan will also be on display. On Friday at The Quail, Acura will unveil the ARX-05 prototype and will again show off the rest of the lineup. On Saturday, the ARX-05 will join a display of historic Acura racecars at this year's Rolex Monterey Motorsports Reunion. And on Sunday, the ARX-05 will be featured on the lawn at the Pebble Beach Concours d'Elegance. Dave Marek, Acura's global creative director, will serve as a Pebble Beach guest judge. Related Video: Related Gallery 2018 Acura RLX View 11 Photos Image Credit: Acura Design/Style Motorsports Acura Coupe Luxury Racing Vehicles Sedan

Acura announces NSX GT3 Evo22 race car will live on

The Acura NSX may be winding down production in 2022, but it still has some life left on the track. Today, Acura announced that it will introduce a new version of its NSX GT3 race car. It features a slew of improvements that should make the platform more competitive. Called the NSX GT3 Evo22, it builds upon the existing NSX GT3 a car that has won multiple championships in IMSA, SRO and Japan's SuperGT. The Evo22 gets improved intercoolers for the 3.5-liter twin-turbo shared with the road car, allowing it to perform consistently in a wider range of conditions and locations. Underneath, the suspension earns some tweaks in revised spring rates and geometry adjustments. To improve the car for endurance racing, the Evo22 reduces pit time with larger fluid tanks, while a revised wheel system allows for quicker tire changes. An FIA-mandated rain light illuminates the rear. Acura will also offer several air conditioning and headlight options. As with the outgoing NSX GT3, the Evo22 eschews the road car's hybrid and all-wheel-drive systems. Instead, it employs an XTRAC semi-automatic six-speed sequential transmission to send power to the rear wheels. Both the race and road car, however, share the same specs for the engine block, heads, valvetrain, crankshaft, pistons, and dry-sump lubrication system. The motors and chassis are both built at Acura's Performance Manufacturing Center in Ohio, while final assembly for the GT3 takes place in Milan, Italy. While European GT3s are supported from Italy, Honda Performance Division in Southern California will support North American teams. The NSX GT3 is the defending IMSA GTD and SRO GT Manufacturers’ Champion, and has achieved 25 IMSA and SRO class wins since its North American introduction in 2017. Interestingly, Acura says the the NSX GT3 is homologated globally through 2024. So, while new road cars won't be produced after next year, you'll still see them representing the "A" calipers at the track beyond that.