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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

Rumors abound over Honda's mid-engined 'Small NSX'

The "baby NSX" lately in the news has been in Honda's idea cloud since before the 2008 global financial rift. The company called it the "Small NSX" and reports said it "will really be a scaled-back version" of Acura's exotic, including the mid-engine layout and a variation of the hybrid SH-AWD. It even had a price: $50,000 to $60,000. So more than seven years on, when a series of patent images materialize for what looks like an NSX-inspired Honda sports car, it doesn't prove anything, but it fits. Motoring reports that the Small NSX will sit at the top of a lineup of three mid-engined sports cars intended for the Honda brand - but note that Motoring is based in Australia, where our Acura NSX is sold as a Honda. This Small NSX would be a "radical replacement" for the Honda S2000 that ended production in 2009. Beneath it will be a global version of the S660 roadster that could come here as an S1000 with 125 horsepower. The Civic Type R and a much sportier, reimagined CR-Z will put some long forgotten handling chops at other price points in the model mix. Motoring's sources say the Small NSX design work is, "for all intents and purposes, completed." The consistent rumor regarding engine is the 306-hp 2.0-liter turbo VTEC used in the Civic Type R. One electric motor will be in back to help move the rear wheels, two electric motors will hang on the front axle. Overall power output is put at around 400 hp, with 330 hp of that coming from the ICE, working through a nine-speed dual-clutch transmission. An aluminum frame with aluminum and carbon fiber parts will discourage heft, the final product at aiming at a weight under 3,100 pounds. Its price should be competitive with its intended target, the Porsche Cayman. The 2018 Detroit Auto Show is where we might see it, before it goes into production later that year at Honda's Performance Manufacturing Center in Marysville, OH. Related Video: News Source: Motoring Green Acura Honda Coupe Hybrid Performance honda nsx

Honda planning sub-NSX S2000 successor

Nine years separated the arrival of the original Acura NSX and the Honda S2000. By that time, the NSX was closer to the end of its fifteen-year production cycle than it was to its beginning. The latest word has it that not only is Honda planning a successor to the S2000, but it's not about to wait that long after the new NSX arrives before it's rolled out.
While the S2000 was a front-mid-engined roadster, its successor will, according to the latest from Auto Express (which we are taking with a grain of salt), be a mid-engined coupe - closer, in other words, to the NSX than the S2000. Power would come from a more potent version of the 2.0-liter turbo four developed for the upcoming new Civic Type R, possibly as part of a hybrid system derived from Honda's upcoming Formula One powertain to develop over 400 horsepower.
Whether the new sports car would revive the S2000 nameplate, and whether it would wear the Honda or Acura badge in the United States, remain to be seen. As does its potential production site: while the previous S2000 was built at the same Takanezawa plant in Tochigi as the original NSX, the new NSX will be built at the new Performance Manufacturing Center in Marysville, Ohio. The new S660 roadster, meanwhile, is set to be assembled at the same Yachiyo plant in Yokkaichi as the original Honda Beat.