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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

Acura Performance Electric Vision concept sure looks like the next NSX

Production of the second-generation Acura NSX ended in 2022, but the nameplate might not be consigned to the automotive attic for very long. The firm published sketches of an electric concept named Performance Electric Vision that can easily pass as a third-generation NSX. Acura's dimly-lit images hide many of the design study's finer details, but we can tell that the Performance Electric Vision concept features a futuristic design — it almost looks like it was beamed from the 22nd century. Its low front end has either hidden headlights or no headlights at all, and it receives neon green accents as well as a backlit Acura emblem. Pronounced wheel arches and a massive wrap-around windshield define the concept's silhouette, while the back end gets neon green accents as well as an air diffuser that looks like it belongs on a race car. Interior photos haven't been released yet, and Acura didn't have much to say about what powers the coupe. All we know is that it's electric. Officially, the Precision Electric Vision concept illustrates one of the directions Acura's design language can take in the coming years. Could there be more to it than that? While this is pure speculation, we don't think the NSX's spot in the Japanese brand's lineup will remain empty forever, and we've heard vague rumors detailing an electric third-generation model before. Rewind to September 2022: Jon Ikeda, the company's vice president, tellingly answered "I would bet on it" when asked whether the NSX nameplate will return for another generation. He added an important detail: "It's going to be electric." Cast in this light, the Performance Electric Vision concept sure looks like a preview of the next-generation NSX, but bringing it to the market is easier said than done. It takes more than an executive making a proverbial bet to bring a car to production, and Ikeda's team will notably need to convince Acura parent company Honda to spend money on a new NSX. Related video:

Production Acura NSX spied getting sharper on the 'Ring

Acura hasn't been shy about trotting out the concept version of its upcoming NSX hybrid supercar - we've seen it colorized on Facebook, wearing Super GT drag and running wrapped at Mid Ohio - but until now, we've missed seeing the production version at all. Thankfully, our boys in the field have been diligently camped out by the Nürburgring, just the place for Acura engineers to get the NSX shaken down and ready for the public.
The first thing you'll likely notice (and no doubt appreciate) is that Acura is staying very true to the concept car. The same wind-tunnel-carved wedge shape is in evidence in the car's silhouette, and details like aggressively scalloped engine vents behind the cabin have made it through unscathed.
We do notice that there are some vertical elements at the bottom of the front fascia/grille that appear to be revised, and the mirrors are considerably less slinky than those of the concept car. Still, by and large, we're seeing a direct translation from show stand to real life here.