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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

The new Acura Integra was never meant to be a retro car

The new Acura Integra Prototype was never supposed to be a retro or nostalgic design process. It would be easy to assume it was, as Acura’s messaging leading up to the big reveal leaned heavily on the Integra nameplate's heritage. From the model name embossed in the bumpers, to videos of shifting the older modelÂ’s manual transmissions, Acura yanked fairly hard on our heartstrings. And then the cover came off last week, and while there are very subtle cues hinting at old Integras here and there, the new car doesnÂ’t look much like the old ones at all. Unlike designers of the new retro-tastic Nissan Z and Ford Bronco, Acura decided to create something altogether new and different. “So, admittedly, when we started planning this car, it was never to create a retro Integra,” Acura product planner, Jonathan Rivers, told Autoblog. “We actually looked at it from the viewpoint of say, if the Integra had never left the lineup, how would it have evolved? How would it have changed over the years? We think this is the result of that.” There was never going to be a two-door coupe model, because as Rivers points out to us, coupes just don't sell these days. However, sportbacks are popular — just look at the sheer number of them coming from Germany these days — and it suits the customers Acura is trying to capture with the Integra. “The target customer is a millennial with an active lifestyle, so they need space for their gear but they also want to have a great car to hit the canyon roads with every now and then,” Rivers says. “Once again, over the generations, the Integra is just that.” For any naysayers throwing their hands up about the Integra seemingly being a fancy Civic, we possess two points of refutation. One, thatÂ’s exactly what the Integra has always been. It was literally badged and sold as a Honda in many other countries, and its bones have always been Civic-based. ThatÂ’s the IntegraÂ’s history, and while Acura doesnÂ’t officially come out and say so, itÂ’s most certainly the same today. On the design front, maybe you think the photos make it look a little too close to the new 11th-gen Civic Hatchback? Well, pictures on the internet donÂ’t always tell the full story of a car design. “None of the sheetmetal is shared with either the four-door or the five-door Civic,” Rivers explains.

2017 Acura Model Year Preview and Updates

In what would otherwise be a model change of modest updates, Acura rewrites the rules with its all-new NSX, a high-performance hybrid reconfiguring the exotic car template. Beyond the all-new NSX, 2017 is what we've come to expect from Acura: competence, efficiency and affordability in the near-luxury segment. ACURA NSX: The all-new NSX, with a mid-engined V6 supplemented by a hybrid drivetrain and front-mounted Twin Motor Unit, provides a performance and handling dynamic rarely seen on the street - and certainly not otherwise available for the NSX's $160,000 MSRP. With a unique blend of aggressively aerodynamic design and refined yet explosive performance, the NSX effectively resides in a class of one. ACURA ILX: Acura's entry-level sedan continues for 2017 with no real changes but the addition of Lunar Silver Metallic, Modern Steel Metallic and San Marino Red exterior colors. ACURA TLX: The TLX continues into its third model year with only modest changes. New for 2017 are three new colors – San Marino Red, Lunar Silver Metallic and Modern Steel Metallic. Also, a GT package is offered for the first time. Designed to reflect Acura's ongoing interest in racing, the GT addition is a combination of Acura's underbody spoilers and your money. ACURA RLX: Modest changes on both the standard RLX and RLX Sport Hybrid. ACURA MDX: Acura's MDX enters its fourth model year with an aggressive freshening, standard front-wheel drive and AcuraWatch, a new suite of safety and driver-assistance technology available across all MDX models. Styling updates include a new grille, hood, front fenders and side sills, along with new front and rear fascias. Inside, an electric parking brake with automatic brake hold has been added. And on the top-of-the-line Advance, buyers enjoy both real wood trim and second-row captain's chairs. ACURA RDX: The 2017 model year introduces two new colors: Lunar Silver metallic and Modern Steel metallic.