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Profit at Honda doubles on strong global sales of cars and motorcycles

TOKYO — Honda reported Wednesday that its April-June profit more than doubled on healthy sales of its motorcycles and cars, as the Japanese company also received a perk from favorable exchange rates. Honda Motor Co. said its fiscal first quarter profit totaled 363 billion yen ($2.5 billion), up from 149 billion yen. Quarterly sales jumped 21% to 4.6 trillion yen ($32 billion). HondaÂ’s financial service division also reported growing sales. Honda said its profitability improved, especially in North America, where production recovered. Automakers around the world were slammed by supply shortages because of production delays related to social restrictions caused by the COVID-19 pandemic. But such restrictions have eased, allowing production to pick up again. Auto sales were about the same in Japan in the latest quarter as in the previous year, while dropping significantly in China because of intense competition from makers of battery electric vehicles, Honda said. Honda is banking on growth in EVs in the U.S. market, where it recently announced it is joining six other companies in the creation of a high-powered charging network across North America. Worries about climate change have helped set off a dramatic shift in the auto industry toward battery electric vehicles, allowing for relative newcomers like Tesla and BYD to prosper, while catching some Japanese makers off guard with their hybrids and regular gasoline-powered models. Honda said a computer chip shortage crimped its motorcycle sales in India, while sales rebounded in Indonesia as production recovered. Honda said it sold 901,000 vehicles in the latest quarter, up from 815,000 a year earlier. It also sold more motorcycles worldwide at nearly 4.5 million, up from 4.2 million. Honda added 23 billion yen ($160 million) to its quarterly operating profit because of the impact of currency exchange rates. A weaker yen, trading lately at about 143 yen to the U.S. dollar, is a boon for Japanese exporters by boosting the amount of its overseas earnings when converted into yen. Honda stuck to its full year projection of an 800 billion yen ($5.6 billion) profit, up from 651 billion yen a year earlier. Honda shares slipped 0.9% on the Tokyo Stock Exchange. Related video: Earnings/Financials Acura Honda

Acura NSX prototype gets back on track

Developing a new vehicle is not without its complications, we're sure, but usually things follow a fairly predictable progression: you develop a prototype, you test it, test it and test it again, then you put it into production. What you don't expect is that your prototype will burn to the ground, but that's what famously happened to the NSX which Honda engineers were testing a few months ago.
Fortunately, the Acura NSX prototype is back on track, both literally and figuratively, as you can see from this latest batch of spy shots snapped at the Nürburgring. This camouflaged prototype looks pretty much the same as the last one, only, you know... less crispy. Which is to say, it looks pretty much ready to hit showrooms.
The naysayers may point out that Honda chose colder and damper weather to put the NSX back into testing - thereby mitigating the risk of another fire - but we're sure the Japanese automaker has been working hard to fix the flammability issues, whatever may have caused them, over the past few months. At least, we hope they have.

Honda slaps Legend name on JDM Acura RLX

It's been eighteen years since we last saw the Legend nameplate in Acura showrooms here in the US, but in Japan it's still very much alive as Honda's flagship sedan. And now the Japanese automaker has revealed the latest generation.
Set to go on sale across Japan on January 22 - 30 years since the nameplate was introduced - the new Honda Legend is essentially the same model we already know in the States as the new Acura RLX. Only by "essentially," we mean exactly. It is the RLX, only with Honda badges instead of Acura ones. The manufacturer hasn't even changed the grille or the wheels.
Although the RLX is being offered Stateside in two forms, the new JDM Honda Legend will only come in one form, equivalent to our Sport Hybrid, with Super Handling All-Wheel Drive and a hybrid powertrain pairing a 3.5-liter V6 to a seven-speed dual clutch transmission with integrated electric motor. For the privilege of owning the most luxurious car Honda makes, Japanese customers will have to pony up ¥6,800,000 - which about adds up to $59,950 we'd pay for an RLX Sport Hybrid.