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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

Rare 1999 Acura NSX Zanardi Edition sells for $135,000

Somebody just bought a 1999 Acura NSX Zanardi Edition for $135,000 on Bring a Trailer. And to that we say, we’re jealous. The Zanardi Edition is one of the more sought-after NSX models out there. Acura only ever sold 51 of them (named after racer Alex Zanardi), and they were sold during a time that nearly every NSX sold here was an NSX-T with the T-top. The hardtop Zanardi Edition features a number of performance improvements over a typical 1999 NSX. Acura took a sizable chunk of weight out of the car. Versus a hardtop coupe, itÂ’s about 54 pounds lighter. Compared to the more popular NSX-T, itÂ’s 149 pounds lighter. This was done in a few ways, but the single biggest weight reduction was due to the power steering delete, making it more like the older NSXs that never had power steering. Lightweight BBS wheels, a lighter battery, single-pane rear glass and a lighter rear spoiler also helped to reduce weight. It received a “racetrack-tuned suspension” that was considerably stiffer than the regular NSX. The shocks, springs and bushings were all revised, and Acura lowered the ride height (0.6 inch in front, 0.3 inch in rear). A stiffer and larger rear stabilizer bar was fitted, too. The Zanardi Edition is rather distinctive looking because of its New Formula Red paint and dark BBS wheels. Acura added red stitching to the all black interior, and owners also got to use a sweet titanium shift knob. And of course, thereÂ’s a special edition plaque on the interior to officially declare it a Zanardi.  Acura did nothing to the engine or transmission. Therefore, it retains the 3.2-liter V6 (290 horsepower and 224 pound-feet of torque) and six-speed manual. We donÂ’t get to see many Zanardi Editions go up for sale, but when they do, they get the big bucks. At 57,000 miles, this one is still on the low side, hence the $135,000 final bid. A regular (albeit newer) 2004 NSX-T with 1,900 miles just sold for $133,000 earlier today. So yeah Â… NSX values donÂ’t seem to be going anywhere but up these days. Related video:

Acura slaps $20,000 discount on 2019 NSX in an effort to sell more supercars

The new Acura NSX has struggled to move off dealer lots as of late, and Acura isn't being coy about adding incentives to its supercar. Motor Trend spotted an under-the-radar $20,000 discount, which is a substantial price slash on a car that starts at $159,300. This incentive isn't actually listed or advertised anywhere on Acura's website, but Motor Trend's Intellichoice affiliate (ownership cost and value analysis site) managed to uncover the discount. If you bought a completely base NSX, the price could be as low as $139,300 now. That's before you do any other negotiations with your dealer to lower the price further. The discount only applies to 2019 model year cars, which is actually a great thing. Acura made a bunch of small, important changes to the refreshed NSX for 2019 you can read about here. It's a better car than before, and now it's significantly cheaper than last year's model, as well. That makes the supercar a veritable steal. Acura has reportedly had this discount in effect since mid-March, and sales throughout this year have been improved versus last year — 72 NSXs had moved off lots at this time in 2018, whereas 102 have found new owners this year. That may not seem like a whole lot, but even a small uptick in supercar sales is meaningful when you're selling in such low quantities. The 2018 calendar year was the worst year in new NSX sales to date, with only 170 in total finding new homes. In 2017 Acura moved a grand total of 581 NSXs, the car's best year. If you want to actually take advantage of the discount (we envy you) then know it's scheduled to last through March 31, 2020. That's a long time to decide if you want the Japanese supercar. A 992 911 Carrera 4S ($121,660) with a few pricey options will easily be bumping into a base NSX, so your expensive sports car decision just got a little tougher. Related Video: