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Honda profit declines on semiconductor crunch and raw material costs

TOKYO — HondaÂ’s fiscal first quarter profit fell 33% from last year as a global computer chip shortage, a pandemic-related lockdown in China and the rising costs of raw materials hurt the Japanese automaker. Tokyo-based Honda Motor Co. reported Wednesday that its profit totaled 149.2 billion yen ($1.1 billion) in the April-June quarter, down from 222.5 billion yen ($1.7 billion) a year earlier. Quarterly sales slipped 7% to 3.8 trillion yen ($28 billion). Honda kept its profit forecast for the full fiscal year through March 2023 unchanged at 710 billion yen ($5.3 billion). The semiconductor shortage has hurt all the worldÂ’s automakers, including Honda, despite strong demand, and the manufacturers have been scrambling to secure alternative suppliers. Honda, which makes the Accord sedan, Odyssey minivan and Civic compact, sold about 815,000 vehicles last quarter, down from 998,000 vehicles the same period a year earlier. Auto sales dropped in almost all regions around the world, including Japan, the U.S. and Europe. “I ask for the understanding from all those who are still waiting for their vehicles and vow that our whole company is doing its utmost to make the deliveries even a day sooner,” Chief Financial Officer Kohei Takeuchi said. Takeuchi said the semiconductor shortage curtailed motorcycle production as well as car production, adding to uncertainty about future prospects. Honda said the recent lockdown in Shanghai was among the causes of the shortage in computer chips supply but declined to give specifics. Although U.S. sales are potentially facing a dent from recession worries and other economic hardships, Takeuchi acknowledged he was more worried about the shortage problem and producing the cars customers were waiting for. Takeuchi noted that motorcycle sales for the quarter, which grew to 4.25 million motorcycles from 3.88 million a year earlier, were going strong, especially in India. The cheaper yen and cost cuts helped maintain profitability overall, he added. The yen has been at a two-decade low against the U.S. dollar. A cheap yen has historically worked as a boon for exporters like Honda by boosting the value of their overseas earnings when converted into yen. But it also increases costs for imported components and materials. JapanÂ’s top automaker Toyota Motor Corp. reported recently that its fiscal first quarter profit fell nearly 18%. Nissan Motor Co. saw its quarterly profit plunge to less than half of what it was a year earlier.

Acura, Penske reveal ARX-05 prototype racecar

CARMEL-BY-THE-SEA, Calif. — Acura pulled the cover off its striking Daytona prototype, called the ARX-05, as part of a new partnership with one of racing's most legendary names, Roger Penske. The racecar debuted Friday at The Quail, a vintage car show held during the week of the Pebble Beach Concours d'Elegance. Acura and Team Penske will campaign two cars next season in the IMSA WeatherTech SportsCar championship, starting with the Rolex 24 at Daytona in January. ARX is short for Acura Racing eXperimental, generation five. The car will run a twin-turbo 3.5-liter V6 engine that's based on the J35 series six-cylinder used throughout Acura's lineup. The body, designed by Acura global creative director Dave Marek's team, uses design cues from the company's road cars, including similar headlights. The chassis is based on the Oreca 07 setup. "We're already testing, and things are looking pretty good," said Art St. Cyr, president of Honda Performance Development and Acura Motorsports. Acura has raced endurance cars since 1991, finding success in IMSA and the former American Le Mans series. Two-time Indianapolis 500 winner Juan Pablo Montoya and Dane Cameron will drive one of the cars, while the other team to be announced later. Acura will face off against Nissan, Cadillac, Mazda, Oreca, Dallara and Multimatic Riley in the IMSA prototype field. The venture marks a return to sports-car competition for Penske, whose organization ran a Chevy Corvette in its first race at the 1966 24 Hours of Daytona and then operated victorious ALMS programs into the 2000s. Penske sees racing as a way to raise the image of Acura, whose cars he sells at his dealerships, Penske Automotive Group. "We want to take this brand to the next level," he said. "It's [racing] a core part of our brand and it's one of the ways we are validating our performance," said Acura vice president and general manager Jon Ikeda. After The Quail, the ZRX-05 is scheduled to appear at the Rolex Monterey Motorsports Reunion and in a featured area for concept and racing cars on the lawn at the Concours. Related Video: Featured Gallery Acura ARX-05 Daytona Prototype Reveal View 11 Photos Related Gallery Acura ARX-05 race car View 12 Photos Image Credit: Live photos copyright 2017 Drew Phillips / Autoblog.com Motorsports Acura Racing Vehicles Pebble Beach daytona prototype

Acura RLX gets chassis upgrades, AcuraWatch for 2016

As Acura's flagship sedan, it makes sense for the RLX be available with the brand's premiere technology. So for the 2016 model year, two trims of the luxury vehicle are getting the latest version of the AcuraWatch suite of safety tech. While the 310-horsepower, 3.5-liter V6 carries over, all trims of the 2016 RLX get an updated suspension tune with decreased spring rates and a less stiff rear stabilizer bar. The changes should provide a more plush, quieter ride inside. There's also a new color available called Acura Silver Metallic. When equipped with either Technology Package or the Advance Package, the 2016 RLX also gets a mix of cameras and radar to provide several safety luxuries that the brand wraps together as AcuraWatch. The system includes things like adaptive cruise control, collision mitigating braking and blind spot information. This improved version adds a Cross Traffic Monitor and Road Departure Mitigation. The latter aid watches the lines on the road to help keep the sedan in its lane. If RDM detects a possible accident, it can even provide steering and braking assistance. Furthermore, the Advance Package now receives Acura's Surround View Camera that places four cameras on the sedan to provide a 360-degree view when needed. The RLX's pricing remains the same from last year with the base version starting at $50,590, plus a $920 destination charge on all models. The Technology Package takes the price up to $54,450, and models with the Advance Package will run $60,450. 2016 Acura RLX Adds AcuraWatch™ and Other Enhancements to Elevate Premium Sophistication and Value AcuraWatch™ expands scope and content of safety and driver assistive technologies Chassis tuning enhances ride quality; 19-inch wheels with new bright finish standard on all trims Manufacturer's Suggested Retail Price (MSRP) unchanged With the most comprehensive suite of safety and driver assistive technologies yet available on an Acura, the 2016 RLX luxury sedan goes on sale March 3 with manufacturer's suggested retail prices (MSRP) unchanged from the previous model year. This price hold represents a significant value, especially for the Technology package due to the addition of AcuraWatch™ and Advance package that includes the first U.S. application of Acura's Surround View Camera system3. Both RLX packages will also adopt the application of Road Departure Mitigation (RDM) and Cross Traffic Monitor.