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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

2021 Acura TLX 2.0T begins production, but the Type S will have to wait

The 2021 Acura TLX is officially rolling off the assembly line in Marysville, Ohio. This marks the beginning of a new generation for the Acura, which promises to be “the quickest, best-handling and most well-appointed sport sedan in the brandÂ’s 35-year history.” Heady words, considering the brand has produced many impressive sedans over the past few decades. Both the standard TLX and the TLX Type S will be made alongside each other, and the engines lurking within will be assembled nearby in Anna, Ohio. Only the standard TLX with the 2.0-liter turbo four-cylinder will be available initially, but the Type S and its 3.0-liter turbocharged V6 will arrive next spring.  2021 Acura TLX Advance View 22 Photos The new TLX will join a number of other Hondas and Acuras that are currently built in Ohio — the previous TLX was made here, too. One new development Acura is especially proud of is the TLXÂ’s new laser brazed roof. ItÂ’s a new process for Acura that allows the roof to be seamlessly joined with the side panels. We say seamless, because thatÂ’s literally how it looks. Acura says thereÂ’s no need for a garnish over the rain channels to cover up a seam. These new sedans will be available at dealers on September 28. We have full pricing information for all but the Type S models. The TLX ranges from $38,525 for a base 2.0T, to $47,325 for a fully-loaded version. Pricing isnÂ’t final for the Type S, but Acura says to expect a price above $50,000. It wonÂ’t be long until we get our hands on a new TLX, so watch for first impressions of AcuraÂ’s new sedan soon.

Airbag recall widens to include BMW, Chrysler, Ford and Toyota

The recall of faulty airbag inflators supplied by Takata has exploded today to grow to seven automakers. In most cases, only models in certain high-humidity regions were affected because the National Highway Traffic Safety Administration found in its investigation that moisture played a roll in determining whether there would be a problem. However, some companies opted for national campaigns. The exact number of affected models for these campaigns isn't yet known at this time.
BMW is recalling an undisclosed number of 325i, 325Xi, 330i and 330Xi models from the 2001 through 2005 model years and the 2001-2006 model year versions of the 325Ci and 330Ci for the driver side and passenger side inflators. Only vehicles currently registered in Florida, Puerto Rico, Hawaii and the US Virgin Islands are covered under this recall.
Neither Chrysler's filing with NHTSA nor its press release list the specific models affected, but a company spokesperson told Autoblog that at this time it only covers the driver and passenger side inflators for the 2006 Dodge Charger in Florida, Puerto Rico, Hawaii and the US Virgin Islands