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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 heading to SEMA with... a '93 Legend?

Acura is gearing up for SEMA this year, and it'll be showing a 1993 Legend, the second-generation version of the sedan that had launched the brand in the first place. You read that right. The vehicle just happens to belong to one Christopher Bridges, better known to some as Ludacris and to others as Tej from the Fast and Furious movies. The Legend is the rapper-turned-actor's cherished possession, having appeared on the cover of his ninth studio album Ludaversal. It was involved in a collision recently, but is being painstakingly repaired, restored, and modified by Acura and will be on display at the Vegas tuner expo. Of course that's not all that Honda's premium division has in store for the show. It's also teaming up again with Galpin Auto Sports to customize a TLX and an ILX – the latter inspired by the aforementioned Ludacris project. Galpin may be better known for working on Fords, but did a custom TLX for last year's SEMA show as well. Joining the Legend and the Galpin customs will be a new NSX and an ILX fitted with several factory-backed accessories. Acura to Showcase Legendary Performance Heritage and Personalization at 2015 SEMA Show Oct 12, 2015 - TORRANCE, Calif. - Acura to unveil rapper, actor Ludacris' custom-restored 1993 Legend - Highly modified 2016 ILX by Galpin Auto Sports will also debut at SEMA during the Acura press conference on Nov. 3 Acura's 2015 SEMA showcase will be highlighted by a custom-restored 1993 Acura Legend sedan owned by actor and rap artist Ludacris. Stepping up its game from the 2014 SEMA Show – where the performance-oriented Galpin Auto Sports Acura TLX was unveiled – the luxury brand will also feature a wide variety of vehicles showcasing its performance heritage and its products' customization potential at the 2015 SEMA Show in Las Vegas. Following a collision that severely damaged Ludacris' cherished 1993 Legend, Team Acura set about to artfully restore and modify the vehicle under the guidance of Acura Design Studio in Los Angeles and under the watchful eye of Acura Global Creative Director, Dave Marek. Fans can follow the build progress leading up to SEMA on Acura (@Acura) and Ludacris' (@Ludacris) social media channels and by using the hashtag #LegendaryDuo. "Working with a real car guy and a passionate Acura owner like Ludacris has made the processes of bringing his Legend back to its original glory a fun and unique experience," said Marek.

2017 Acura NSX production launches in April

After a decade of waiting and a few false starts, the new Acura NSX will finally start rolling out of its Marysville, OH, factory in late April. Customer deliveries won't be too far behind. We can't wait to hear whether buyers find the supercar as fast and comfortable as we did during the First Drive. Trial production is already underway at the NSX's bespoke factory called the Performance Manufacturing Center. The plant is specifically for production of low-volume vehicles with cutting-edge tech. The site employs 100 people to construct, paint, and check the quality of the new supercar, and they need 14 hours to build each one. Robots take care of some of the more intricate tasks like MIG welding the space frame. View 6 Photos It also takes workers six hours to build each NSX's 3.5-liter V6 by hand at the nearby engine plant in Anna, OH. They machine balance every one and run the powerplant through a 150-mile break-in procedure. While the supercar isn't at dealers yet, you can already build your own 2017 NSX online. Prices start at $157,800 (after $1,800 for destination), but the first examples only come with carbon-ceramic brakes, which add at least $9,900 to the price. When Autoblog editors optioned them out, the cheapest we managed was $172,700. Related Video: ACURA ANNOUNCES PLANS FOR START OF SERIAL PRODUCTION OF THE 2017 ACURA NSX Performance Manufacturing Center is exclusive global production home for Acura NSX with serial production to begin late April World-class facility boasts quality, craftsmanship and technological innovation Mar 17, 2016 - MARYSVILLE, Ohio -- Acura today announced that the all-new Performance Manufacturing Center will begin serial production of the next-generation Acura NSX supercar in late April, with customer deliveries to commence thereafter. The new Performance Manufacturing Center (PMC) is the exclusive global manufacturing facility for the all-new Acura NSX supercar and is structured around an innovative blend of people and technology. Combining human craftsmanship and technological innovation, the PMC utilizes new approaches to vehicle construction, paint, assembly and quality confirmation to deliver on the Acura brand DNA of Precision Crafted Performance.