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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

The future of Acura is coming to Detroit

What you're looking at here is a teaser of the Acura Precision Concept – a showcar that will introduce the new design language for the brand. Acura is determined to inject some a larger performance aura into its brand, and for now, it plans to do that with stronger design language. "The Acura Precision Concept will serve as the inspiration for the styling and proportion of the next-generation of Acura vehicles, especially for our sedans," says design director Dave Marek. We like what we see, too. The showcar has a long hood, short rear deck, and very strong character lines down the side. Those are classic rear-wheel-drive proportions, but as we know, that's kind of a long-shot for a new Acura. We'll see the full concept at the Detroit Auto Show in January. Here's hoping it looks awesome. Acura Precision Concept to Debut at 2016 North American International Auto ShowCreated by Acura's U.S. design team, Acura Precision Concept points to performance focus of future Acura design TORRANCE, Calif. (Dec. 18, 2015) – Acura will unveil the Acura Precision Concept at the 2016 North American International Auto Show in Detroit on January 12 at 8:00 am ET, the brand announced today. Created by the Acura Design Studio in California, the Acura Precision Concept will help set the direction for future Acura design; in particular, the next generation of performance-luxury sedans. "The Acura Precision Concept will signal the stronger and sharper focus of Acura styling on our core DNA we call 'precision crafted performance'," said Dave Marek, global creative director for the Acura brand. "It is our intention to more strongly express performance through design and the Acura Precision Concept will serve as the inspiration for the styling and proportion of the next-generation of Acura vehicles, especially for our sedans." Acura today also announced details of its launch plans for the next-generation NSX supercar, coming to market next spring. Acura is on track to post its fourth consecutive year of U.S. sales growth in 2015, and best sales since 2007, with sales up 6.9 percent through November.

2015 Acura TLX priced from $30,995*

Following a delay this spring, Acura is now ready to launch the 2015 TLX sedan this August, with pricing now confirmed to start at $30,995, *not including $895 for destination. This base MSRP is just $360 more than that of the outgoing TSX sedan; the TLX replaces both the TSX and TL in Acura's 2015 model year lineup.
That's a pretty fair deal considering that introductory price gets buyers a front-wheel drive TLX with a 2.4-liter inline four-cylinder engine with 206 horsepower,mated to a new eight-speed dual-clutch transmission, and featuring the automaker's Precision All-Wheel Steer (P-AWS) system. Adding a Technology Package ups the MSRP to $35,025.
Of course, the TLX is also available with a 290-horsepower, 3.5-liter V6 mated to Acura's new nine-speed automatic transmission. The TLX V6 P-AWS starts at $25,220 and climbs to $39,250 with the Technology Package. The bottom line on the range-topping Advance model is $42,500. Acura's Super-Handling All-Wheel Drive is available with the 3.5-liter engine, too - the SH-AWD Technology model starts at $41,450, while the SH-AWD Advance commands $44,700.