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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

2016 Acura MDX gets 9-speed transmission, added refinement

It's a car we barely think about until Acura announces it's done something to it, but the MDX is rather popular with those questing for a crossover. For 2016 the third-generation, luxury three-row people-carrier gets a slightly higher MSRP, but better standard equipment and options to go with it. The big change is that the nine-speed automatic transmission with tighter ratios and faster gear shifts, as well as its push-button gear selector, has finally migrated from the top-dog RL sedan. So too the upgraded twin-clutch Super Handling All-Wheel Drive, paired here with the unchanged 290-horsepower, 3.5-liter six-cylinder. We thought adding three more cogs was supposed to make for better fuel economy, but in some cases the EPA ratings on the 2016 MDX have gone down by one mile per gallon. The base 2015 MDX is rated at 20 city, 28 highway, 23 combined; the 2016 is rated 19 city, 27 highway, 22 combined. Add SH-AWD on the 2015 and you're looking at 18 city, 27 highway, 21 combined; on the 2016 that's 18 city, 26 highway, 21 combined. If you add idle-stop to those models you restore the city and combined ratings, but still lose that extra mile on the highway. On the options list is a group of safety and driver assistance features grouped under the AcuraWatch rubric. You can add the whole kit for $1,500 to the base model, but some of its features like Lane Keep Assist and Forward Collision Warning, which you can also option on the 2015 model, are added with the Technology Package. The full suite, which includes model-firsts like Road Departure Mitigation and Rear Cross Traffic Monitor, is standard once you step up to the Advance Package. Other tech treats get baked into all trims, like the easy entry/exit driver's seat slides back 1.4 inches when you're getting in and out, the TPMS fill assist that sounds a beep when you've inflated the tires to the correct pressure, Siri Eyes Free voice recognition and a frameless rearview mirror. The price to get in on all this is $42,865, a a $1,100 bump over the 2015 model, but that's not a blanket increase across the lineup: the MDX with the Technology Package, for instance, has only gone up $250. The upper limit comes with the MDX SH-AWD with idle stop and the Advance, Entertainment & AcuraWatch Plus Packages for $57,080, a $100 increase over the top-of-the-line 2015 trim. The press release below has plenty of details.

2014 Acura MDX priced from $42,290*

The fully redesigned 2014 MDX goes on sale in July, and Acura has now confirmed that its largest crossover will be priced at $42,290 (*plus $895 for destination). Unlike previous MDX models, Acura will offer the 2014 model with both front- and all-wheel drive (the automaker's fantastic Super-Handling All-Wheel Drive, at that), and this base price is for the standard, two-wheel-drive MDX model. At the base level, this new pricing represents a $990 decrease over the outgoing, AWD-only 2013 model.
Four trim levels will be offered across the range, all of which use Acura's direct-injected 3.5-liter V6 engine good for 290 horsepower and 267 pound-feet of torque, mated to a six-speed automatic transmission. Standard features include things like push-button start, Acura's fancy new Jewel Eye LED headlights, the next-generation AcuraLink system, an eight-inch multi-function display screen, blind spot monitoring and a premium sound system.
Moving up from there, the Technology package ($46,565) gains 19-inch wheels (18s are standard), forward collision warning, lane departure warning, a color TFT display, rain-sensing wipers and more. The Entertainment Package (bundled into one $48,565 model) adds rear seat entertainment to all of that. At the top end, the MDX Advance model gets unique wheels, remote engine start, 12-speaker ELS premium audio, adaptive cruise control and more. Adding Super-Handling All-Wheel Drive to any of these models results in a $2,000 price jump.