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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

2016 Acura ILX, for better or worse [UPDATE]

Unfortunately, the slick-shifting six-speed manual transmission has been discontinued. UPDATE: A previous version of this story incorrectly stated that the 2.4-liter engine in the 2016 ILX is the same unit found in the Honda Civic Si. The ILX's new engine is the same direct-injected four-cylinder found in the new TLX. The text has been edited to reflect this. "It's just a badge-engineered Honda Civic." This (uninformed) criticism has been leveled at the Acura ILX since the premium compact arrived on the scene to duke it out with the Buick Verano and, more recently, the Audi A3 and Mercedes-Benz CLA-class. For model year 2016, Acura will attempt to address the car's critics, issuing a major reshuffle of the sedan's lineup along with the typical sheen of a mid-cycle refresh. Following up on the discontinuation of the ILX Hybrid for 2015, Acura is dispatching the antiquated pairing of the base 2.0-liter four-cylinder and five-speed automatic for 2016, and simply slotting in the standard powertrain of the TLX. The 2.4-liter four-cylinder produces 201 horsepower and 180 pound-feet of torque, with peak output arriving at 3,600 rpm. The ILX also benefits from the same eight-speed, dual-clutch transmission found in the TLX. Unfortunately, the slick-shifting six-speed manual transmission we've always enjoyed has been discontinued. Sad trombone, indeed. Powertrain tweaks aside, Acura has issued a pretty handsome freshening for 2016. The ILX was always a handsome offering, but the new front and rear clips are improvements. Acura's love-it-or-hate-it JewelEye headlights have been grafted onto the ILX, while the grille, a traditional weak point for the brand, is perhaps one of the best we've seen out of the company in several years. The rear taillights also received some attention, although it was the back bumper that saw the biggest update, with the lower section getting a sportier look. Acura will also add a new A-Spec package for 2016, which replaces the standard 17-inch wheels with 18s, adds "Euro-style" stitching to the steering wheel and adds black Lux Suede inserts to the seats, along with a flurry of smaller aesthetic tweaks. The A-Spec can be added alongside the existing Premium and Technology Packs. Acura hasn't released any interior images as of this writing, although we'll be sure to snap a few following today's debut conference at the 2014 Los Angeles Auto Show. Until then, scroll down for the official press release from Acura.

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