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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 RDX Luggage Test | How much cargo space?

The Acura RDX is considered a compact luxury SUV, but there's actually very little that's compact about it. When lined up against its competitors, you can see that it enjoys a clear dimensional advantage. In fact, the RDX is pretty close to the Lexus RX, with an identical rear legroom figure and considerably more cargo space with the back seat raised. Obviously, I'll be addressing the latter here. On paper, Acura provides several cargo numbers calling out specific SAE measurement standards for each one. Basically, it has 31.1 cubic-feet behind its back seat when you include its underfloor storage and 29.5 cubic-feet when you don't. Even that smaller number is superior to everything in the segment save the Volvo XC60 (29.7), while the Lexus RX apparently has a seems-way-too-small 18.4.   Let's see what that size advantage means. It's obvious that this is a comparatively deep and wide space with plenty of air above the back seat line for bulkier items. Note that the cargo cover was not present in this test vehicle, so I couldn't test capacity with it in place. As in every luggage test, I use two midsize roller suitcases that would need to be checked in at the airport (26 inches long, 16 wide, 11 deep), two roll-aboard suitcases that just barely fit in the overhead (24L x 15W x 10D), and one smaller roll-aboard that fits easily (23L x 15W x 10D). I also include my wife's fancy overnight bag just to spruce things up a bit (21L x 12W x 12D). There you go, all the bags fit easily. This is pretty much identical to the Lexus RX (below left) and a much easier fit than the Mercedes GLC, which is  one of the only other compact luxury models I've tested. Both of these examples are more capacious than their specs would indicate. However, this is not the end of the RDX story. Remember when I mentioned that it has 31.1 cubic-feet when including its underfloor storage? Well, that might actually be underselling the extra space gained. First, I like that the floor flips back and rests flat so you can easily use the extra space. You can also fully remove the floor piece to gain access to the aft bin, which is deeper but oddly shaped.  Here are my four largest bags standing up, with sufficient rear visibility maintained, and you still have the full-width section of the cargo area including the underfloor bin. What can you fit there? How about a 38-quart cooler and the remaining two bags stacked haphazardly around it.

Honda is spending $124 million on a new wind tunnel facility in Ohio

Ford isn't the only company building a multi-million dollar wind tunnel this year. Honda is also getting in on the action. Its new facility will cost less than Ford's at $124 million, and construction begins this summer. It will be built at the Transportation Research Center in Ohio, which is where Honda's NSX proving grounds are located. Honda will install a five-belt rolling road in the tunnel for testing of more pedestrian vehicles, and a wide, high-speed, single belt version for testing of sports cars and race cars. However, it seems the Honda facility will only be capable of testing wind speeds of up to 192 mph, whereas Ford claims a top speed of 200 mph. Cameras and microphones will also be set up inside the testing area at the Honda tunnel to help find wind noise trouble spots. Honda won't necessarily be the only company using the new wind tunnel either. The facility will be available for other groups and companies to use. There are even secure bays those groups can use for their work. Related Video: