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Profit at Honda doubles on strong global sales of cars and motorcycles

TOKYO — Honda reported Wednesday that its April-June profit more than doubled on healthy sales of its motorcycles and cars, as the Japanese company also received a perk from favorable exchange rates. Honda Motor Co. said its fiscal first quarter profit totaled 363 billion yen ($2.5 billion), up from 149 billion yen. Quarterly sales jumped 21% to 4.6 trillion yen ($32 billion). HondaÂ’s financial service division also reported growing sales. Honda said its profitability improved, especially in North America, where production recovered. Automakers around the world were slammed by supply shortages because of production delays related to social restrictions caused by the COVID-19 pandemic. But such restrictions have eased, allowing production to pick up again. Auto sales were about the same in Japan in the latest quarter as in the previous year, while dropping significantly in China because of intense competition from makers of battery electric vehicles, Honda said. Honda is banking on growth in EVs in the U.S. market, where it recently announced it is joining six other companies in the creation of a high-powered charging network across North America. Worries about climate change have helped set off a dramatic shift in the auto industry toward battery electric vehicles, allowing for relative newcomers like Tesla and BYD to prosper, while catching some Japanese makers off guard with their hybrids and regular gasoline-powered models. Honda said a computer chip shortage crimped its motorcycle sales in India, while sales rebounded in Indonesia as production recovered. Honda said it sold 901,000 vehicles in the latest quarter, up from 815,000 a year earlier. It also sold more motorcycles worldwide at nearly 4.5 million, up from 4.2 million. Honda added 23 billion yen ($160 million) to its quarterly operating profit because of the impact of currency exchange rates. A weaker yen, trading lately at about 143 yen to the U.S. dollar, is a boon for Japanese exporters by boosting the amount of its overseas earnings when converted into yen. Honda stuck to its full year projection of an 800 billion yen ($5.6 billion) profit, up from 651 billion yen a year earlier. Honda shares slipped 0.9% on the Tokyo Stock Exchange. Related video: Earnings/Financials Acura Honda

2015 Acura TLX prototype to debut in Detroit, TSX to be discontinued

Acura confirmed that its new mid-range sedan, the TLX, will debut in prototype form at the 2014 Detroit Auto Show next month. The automaker is currently mum on specific details, but in a press release, Acura stated, "The all-new model will feature more emotional styling with tidier, sports sedan proportions wrapped around two all-new advanced powertrains that provide even more athletic performance, along with a host of signature Acura technologies."
During an event in Detroit earlier this week, Mike Accavitti, American Honda's senior vice president, told Autoblog that the introduction of the TLX will create a three-tier sedan lineup for the luxury brand in the United States. In other words, the TLX won't just replace the aging TL, it will also mark the death of the smaller TSX sedan (and wagon). The TSX will officially be axed sometime next year.
The 2015 TLX will be available with either two- (read: front) or all-wheel drive, and will use two direct-injected engines, both of which will be mated to a brand-new transmission. We'll have more details in just a few weeks, but for now, scroll down to read Acura's official press blast.

2015 Acura TLX is all too familiar, despite its new tricks [w/videos]

I'm confident in saying that the 2015 Acura TLX, revealed today at the New York Auto Show, will be a perfectly nice car to drive. It'll be nice to sit in, with plenty of luxurious amenities. It'll be... fine. And for Acura, "fine" is apparently good enough.
I say that because while the TLX is an all-new offering (it replaces both the TL and TSX), it hardly shakes up the Acura formula we've come to accept over the past few years. It looks like everything else in the automaker's lineup, complete with the neat LED headlamps and signature beaked grille. Power comes from either a 2.4-liter naturally aspirated inline-four with 206 horsepower, or a 3.5-liter V6 with 290 hp - engines we've tested in countless other Honda/Acura products. The front-wheel-drive version uses the Precision All-Wheel Steer (P-AWS) from the RLX, and high-end V6 models use the Super-Handling All-Wheel Drive (SH-AWD) that we've enjoyed across the rest of the Acura range. Really, there's nothing to write home about here, except maybe, how that power is sent to the wheels.
Acura is finally - finally - moving beyond the world of the six-speed transmission, offering a new eight-speed, dual-clutch gearbox with the 2.4-liter engine, and a swanky new nine-speed automatic with the 3.5-liter V6. This is arguably the biggest news surrounding the TLX, though do note, fuel economy hasn't vastly been improved in the process. The TLX 2.4 musters up 24 miles per gallon in the city and 35 mpg highway, while the front-drive V6 is rated at 21/34 mpg. Optioning for the V6 SH-AWD reduces things to 21/31 mpg.