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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

Nice car seeks Millennials | 2018 Acura TLX First Drive

The Acura TLX has a new face. And a rear diffuser. There's also a new A-Spec version with stiffer dampers, quicker steering, a snarlier engine, and snazzy red leather. Plus, every TLX has a revised touchscreen with Apple CarPlay and Android Auto. That pretty much sums up the refreshed 2018 Acura TLX entry-level luxury sedan, which didn't exactly drop into the market with a splash when it launched originally. Is all of that enough to make a difference? Probably not. After a day driving it around southern Indiana and the outskirts of Louisville, Kentucky, the TLX continues to be a perfectly nice car. It's refined and the cabin is well built, but otherwise the sedan is unremarkable. Ah, but there's more going on here than just a mid-cycle refresh. The 2018 TLX is Acura's latest effort following the revised MDX to recast itself as the maker of "precision-crafted performance" cars, inspired by both the NSX and the Precision Concept car shown at the 2016 Detroit Auto Show. It's a top-to-bottom, R&D-to-marketing attempt to better appeal to today's holy grail of customer: the Millennial. To do that, it goes beyond the cars themselves. New Acura commercials are a far cry from an authoritative James Spader rationally extolling the virtues of this and that. There are fast cuts and three images perpetually on screen. There's pulse-pumping music, bright colors, and words like "Geek + Chic" and "Super + Sonic." There are many not-exactly-subliminal images of the NSX. There's a red Power Ranger. It's hip! It's young! It's Millennial! It's also a marketing campaign that has apparently connected with its target generation – well, at least in focus group ratings. "If you look at what the other brands are doing, and particularly the luxury brands, it's so serious," said Jon Ikeda, Acura vice president and general manager. "We're trying to make it more inclusive, not intimidating, more youthful, more optimistic, and more fun. We want to have fun with it. "[The commercials] are trying to set the tone of Acura in general, to make people go, 'OK, I'm interested in that, I want to go drive that.' Now it's up to us to make sure the product reflects that." And Ikeda is actually in a position to make that happen. He's not a business guy or a Mad Men marketing sort – he's moved upstairs after spending decades in design, a tenure that included penning the third-generation TL, the best-selling Acura model of all time and one of the best-looking.

Turbo Honda S2000 could battle Miata and 124 Abarth

Rumors are again swirling that Honda could have a new sports car under development to slot below the forthcoming NSX. Autocar claims the model would revive the S2000 name, but offer 1.5- and 2.0-liter turbocharged units at the front to drive the rear wheels. Autocar alleges this info comes from unnamed "company insiders," and asserts the new S2000 could have a base model with a 1.5-liter turbo that makes about 180 hp – almost 60 hp down from the original convertible. However, a hotter version – possibly with Type R badging – would reportedly have a detuned form of the 306-hp 2.0-liter in the Civic Type R. Both trims would have a six-speed manual. Competing rumors contend that Honda could be developing two different performance models. Patent images suggest the company might have a smaller version of the NSX under consideration in addition to the rumored S200 revival. The mid-engine coupe would allegedly use a hybrid powertrain based on the Civic Type R's engine to make a total of about 400 hp. However, Autocar claims the S2000 successor has the higher priority of the pair, but it doesn't mention where the info comes from. The Honda S660 kei car on sale in Japan shows that the brand is willing to dabble in new sports cars, but that convertible isn't practical for the US market, according to the automaker's bosses. Dealers meanwhile continue to beg a performance model in the lineup, so it's possible one of these rumored projects eventually could arrive in showrooms. Related Video: