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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

Honda trademarks ZSX, could be for baby NSX

While there have been many rumors dating back to 2008 about a mid-engined sports car from Honda, last year's report was provided the most detail about what seemed to be a scaled-down version of the NSX hybrid supercar. Honda may have added some fuel to the rumor-fire by recently filing a trademark application for "ZSX," reports Australia's Performance Drive. The trademark application was sent to the European Union Intellectual Property Office late last month and is obviously close to the NSX nomenclature. The Australian outlet also reports that an unnamed source within Honda claims the ZSX, whatever it may be, could be revealed as early as next year. The anonymous employee also claims that the ZSX will be offered as a coupe and a hard-top convertible variant, with both being powered by the automaker's 2.0-liter turbocharged four-cylinder engine from the Honda Civic Type R. Just like the NSX, the ZSX is rumored to get electric motors on the front and rear axles. Previous reports match the unnamed source's claims, as the ZSX was expected to be a replacement for the Honda S2000 that ended production in 2009. It now sounds like it'll be more of a mini-NSX, with rumors pointing towards one electric motor powering the rear wheels, while two motors would be on the front axle. Patents from last year, which are pictured above, match the rumors of a mid-engined sports car. The ZSX trademark is for Europe only as of right now, while the automaker's previous patents and trademarks included the US, as well. Only time will tell if "ZSX" really stands for a sports car, or if Honda actually goes through with its plans. Remember, Nissan ditched similar plans for a small rear-wheel-drive sports car recently. Related Video: Featured Gallery Honda ZSX Patent News Source: EUIPO, Performance DriveImage Credit: autovisie Green Acura Honda Coupe Hybrid Performance trademark rumor honda nsx

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.