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Honda reports $1.9 billion profit in first quarter despite sales lag at home

Ford, General Motors and Chrysler have been living in a world of sunshine and buttercups after their April-through-June financials hit the newswire, and Toyota is doing pretty good as well. Honda? Not so much.
While Japan's third-largest manufacturer saw $1.9 billion in profits, the 5.1-percent jump was lower than expected thanks to a drop in its home-market sales. US sales also took a sting, as Honda hasn't been able to match the SUV and truck demand that are currently permeating the American market, despite an uptick in Accord sales.
Honda's initial forecasts targeted a take of 209.3 billion yen ($2.1 billion at today's rates), and while a $200 million shortfall is nothing to sniff at, we'd hardly take this as Honda being in trouble. And even with the dip, Honda hasn't adjusted its forecast for the fiscal year, which remains at 780 billion yen ($7.9 billion).

2013 Acura ILX 2.4

Going Mainstream Has Its Privileges
Acura's experiment with niche models has failed. Competing in the luxury car business by filling white space with product just didn't work for the Japanese automaker. In place of slow-selling models like its ZDX and quirky first-gen RDX, the mindset at Acura has recently switched to more conventional products with vastly improved volume potential. The redesigned 2013 RDX, for example, sold almost as many units in 2012 as it did in 2010 and 2011 combined, and the all-new 2013 ILX has sold more units each month - since going on sale in May - than Acura sold in ZDXs and RLs in all of last year.
While the redesigned RDX is a crucial product to compete with luxury compact crossovers, the ILX might be the most important new product for Acura, as a growing number of premium makes are starting to realize the importance of upscale entry-level compact cars. Ironically, this segment was a pivotal part of the brand's success in the 1980s and '90s thanks to the Integra, but Acura completely abandoned the genre when it killed off the RSX coupe in 2006. The addition of the ILX not only gives Acura a competitive small car again, it also drops the brand's entry price by almost $5,000.

Acura aiming for Chinese production by 2016

Not wanting to be left out of the emerging luxury car bonanza in China, Automotive News is reporting that Acura could begin producing vehicles in the Asian country by 2016. Like Audi, Mercedes-Benz and BMW, Acura will reportedly build vehicles in China using a local partner - Guangzhou Automobile Group Co. in Acura's case - while Cadillac and Infiniti will build their own vehicles locally.
Guangzhou already produces Honda models in China, but the article says that the first Acura produced in that country could be a new compact model based on the Acura SUV-X Concept (shown above), a showcar revealed in April at the Shanghai Motor Show. China's luxury car market is expected to grow to 2.7 million units a year by the end of this decade, which would put it on pace to make it the largest premium car market in the world.