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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

2021 Acura TLX Long-Term Update | Pleasurable drive, puzzling gremlin

This was my first long haul behind the wheel of our long-term 2021 Acura TLX, and past experience with the brand (and Honda in general) led me to believe that if I could get past any seat comfort issues, the TLX and I would get along just fine. As it turned out, I had no cause to worry in the first place. The TLX’s seats are comfortable and supportive enough for my typical driving position – and look great in red to boot. Not having to worry about my back screaming at me after a couple solid hours on the highway, I was able to devote my attention elsewhere, and the report is largely positive. To me, the most impressive thing about the TLX is how small it feels from behind the wheel. IÂ’ve had it in my driveway for nearly two months (for various reasons, none of them good; look for more in a future update) and despite driving it rather frequently, I often forget that itÂ’s a midsize. HowÂ’d Acura accomplish that? ItÂ’s all in the feedback. The steering is dialed in pretty much perfectly and lacks the artificial and distant sensation present in AudiÂ’s FWD-based luxury sedans, for example. IÂ’d even put the TLX ahead of BMWÂ’s 2 Series Gran Coupe in this department. Sure, theyÂ’re very different vehicles, but that Acura can accomplish this with something as large as the TLX while even BMWÂ’s compacts disappoint? Well, it says something. And though it may feel small, it isnÂ’t. The TLX more than accommodated enough luggage for two people traveling to a Lake Michigan wedding over a long weekend, and did shuttle duty throughout the festivities without even a peep from rear-seat passengers, apart from commentary about the red leather. ItÂ’s a bit polarizing, IÂ’ll admit, but I think it looks great against the blue exterior. 2021 Acura TLX A-Spec View 51 Photos Over the 500-mile round trip, the TLX averaged just a hair under 30 mpg (against an EPA rating of 29 mpg highway; score one for the numbers geeks) at cruising speeds of 75-80. Michigan highways arenÂ’t known for top-notch surfaces, but even on the grooved pavement found on many of its interstates and other rural expressways, tire hum never became intrusive. Present? Sure, just not unpleasantly so. My gripes are few. I wish the cruise control would be a bit more aggressive in accelerating to a set speed when resumed, for one; it seems downright lazy under certain conditions. I could also do entirely without the silly touchpad-like infotainment interface.

Acura NSX to be built in Ohio in 2015

Honda today confirmed that the forthcoming Acura NSX hybrid supercar will be built at a brand-new facility in Ohio. This will be the company's third plant in Ohio, and will come as the result of a $70 million investment. Honda first hinted that NSX production would be coming to Ohio when the original concept car was revealed at the 2012 Detroit Auto Show.
Honda's new facility, called the Performance Manufacturing Center, will encompass a 184,000-square foot space inside of the automaker's former North American Logistics building and will employ 100 associates. As you might expect, the Performance Manufacturing Center is located just a few miles from Honda's American-based R&D facility, as well as the Marysville auto plant, where production of the 2014 Accord Hybrid will kick off this fall.
"The location of this facility is in the midst of one of the greatest collections of engineering and production talent in the world. So it makes sense that we will renew the dream and build this high-tech, supercar in Marysville, Ohio," said Hidenobu Iwata, president and CEO of Honda of America, in a press release.