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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

10 best new car deals in late September 2021

New car sales were drastically affected in 2020 due to the ongoing coronavirus pandemic, but things started to show signs of recovery toward the end of the year before really coming on strong in the early months of 2021. Now there's an ongoing shortage of microchips causing a great deal of pricing fluctuation and a limited supply of certain vehicles. That doesn't mean there aren't still great deals on new cars, though. Using data provided by TrueCar, we’ve compiled a list of some of the best automotive deals for September 2021. WeÂ’ve noted the original MSRP, the average transaction price, and the total savings in both dollars and as a percentage of the original sticker price. Basically, weÂ’ve done all the hard work for you! So now, all you need to do is compare deals, go on a few test drives, and maybe drive away in a great car (and an even better bargain).

2019 Acura NSX quick spin review | Japan takes on the world, again

I drove the 2019 Acura NSX on track a while back, and it's an absolute freight train. But now that I've driven it in the snow and the rain and our pothole-riddled streets around Southeast Michigan, I can tell you about what it's like to live with the Japanese supercar. Our tester was painted in gorgeous Casino White pearl. It's a stunner in this color, highlighting the NSX's proper supercar styling – impressions were reinforced by the constant stares and craned necks over a cold November weekend. All $21,600 of carbon fiber exterior parts (several carbon packages combined) probably didn't contribute a whole lot to this, but man does it look cool up close. Updates to the 2019 car consist mostly of more suspension and tire to give it the edge it was missing before. Stiffer stabilizer bars, rear toe link bushings and re-tuned magnetorheological dampers do the bulk of the work. A complete recalibration of the steering and SH-AWD system ties it all together, and boy does it work wonders. Of course, I spent most of my time inside the NSX, which, just like before the 2019 update is the most controversial part of this car. Acura likes to say it has "excellent ergonomics" and "simple driver interfaces presented with elegant materials." Critics say it looks like any other Acura, giving the nearly $200,000 supercar a cheap vibe. I think there's a disconnect between what Acura thinks is a perfect supercar interior – a focus on superb visibility and ease of use so you can focus on driving – and what enthusiasts are hardwired to believe a supercar interior should be – wild, at times nonsensical, and exotic. I find myself on Acura's side in this debate, more so after spending so much time in the cabin. The skinny A-pillars, long windows and excellent view out the rear make driving this car through rush-hour traffic a calming adventure. Our car's blue/black leather and suede interior combination looks the business and feels luxurious — the $3,800 carbon fiber interior package helps it feel exotic. I spent plenty of hours in the saddle over a long weekend and was never fatigued or sore from the seat. The car is downright approachable to drive for anybody, partly thanks to the straightforward interior. The only part that ever frustrated me was the lack of a volume knob, an annoyance carried over from Honda. One knob you will end up using often is the giant Dynamic Mode control knob. I did most of my commuting in either Quiet or Sport mode.