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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 races into anime with 'Chiaki's Journey' web series

For the twelfth year in a row, Acura is a presenting sponsor and the official vehicle of the Sundance Film Festival in Park City, Utah. Acura created a four-part anime series called Chiaki's Journey combining the medium Sundance celebrates, Japanese anime, the automaker's fuller Type-S lineup, and the new Acura Integra hatch. Unlike most of the films at the festival, however, Chiaki's Journey runs a total of four minutes and 12 seconds, each episode lasting just over a minute. The story centers on Chiaki, a young Japanese woman from a family of racers who knows how to hustle a car around a track, but who has a temper that runs faster than her vintage Integra can rev. The villain is Erich Kang, the same rich and insufferably arrogant hotshot from every video game and car movie, piloting a non-descript blue hot rod. He's clearly the guy everyone would like to beat, and he knows he's that guy. When Chiaki gets behind the wheel to teach Kang a lesson in lap times, her uncle Noboru steps in to teach her the lessons she'll need to need to win.  Being so condensed, each installment plays like a trailer for a longer episode. Acura managed to fit in all the cars, though: Spot the 2022 MDX Type S, NSX Type S, TLX Type S, and 2023 Integra. The car brand got the obligatory Japanese rock anime intro as well, thanks to the all-female metal band NEMOPHILA doing the song "Raitei.” You can see the first episode above and the rest at Acura's dedicated Type S site.  Related video:

Acura ZDX getting the axe after 2013 despite new updates [w/poll]

The Acura ZDX hasn't exactly lived a conventional existence, so perhaps we shouldn't be surprised that its death announcement isn't going according to standard industry protocol, either. Parent company Honda has taken the unusual step of trumpeting a refreshed-for-2013 model while simultaneously announcing that this will be the model's last year. According to Acura, the model's cancellation comes as the brand "sharpens its focus on new models and core products" like the forthcoming RLX sedan.
The audaciously styled crossover has been, to be charitable, a very reluctant seller since its 2009 introduction, but for 2013, Acura is jazzing up its concept car for the street with new kit. The changes include a lightly reworked front shield grille along with new power folding side mirrors and new tech features including lane departure and forward collision warning systems.
We'd say that announcing the model's discontinuation at the same time one is presenting a freshened model could hurt sales, but we're not sure there's anyone paying attention. Last year, Acura managed to shift just 1,564 units of the ZDX, giving it the No. 4 spot on our Worst Sellers of 2011 list. Through September, Automotive News reports that only 642 examples have been sold in 2012, making it one of the rarest new cars on the market.