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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.

Ford, Toyota clean up in Best Car For The Money Awards

The U.S. News Best Cars for the Money Awards picks winners by looking at the average transaction price, five-year total cost of ownership, the regard a car has from the automotive press, reliability figures from J.D. Power and Associates and safety data from the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety. The result, according to the magazine, is "the best combination of critical acclaim and long-term value."
Ford nabbed six of the 21 categories that received awards this year, the Focus, Fusion, Fusion Hybrid, Taurus, Escape and Edge getting trophies. Toyota and its Lexus and Scion sub-brands took another five, the Tacoma and Tundra owning the two categories given to pickup trucks. The other ten awards were split between Honda with three, Buick with two, and one each for Subaru, BMW, Hyundai, Chevrolet and Mazda.
Follow the link to see all the winners and read about why they were chosen.

2021 Acura TLX Long-Term Update | Tuneful turbo-four soundtrack

I used to be enamored with the turbocharged 2.0-liter engine format. I owned a 2004 Subaru WRX, with its turbo boxer mill, and liked it quite a bit, rough though it could be. Then turbo-fours, often displacing the same 2.0 liters, began replacing heavier and thirstier naturally aspirated V6 powerplants across the industry, and I was on board. Since then, they’ve become much more refined and responsive, all while their often uninspiring soundtracks faded into the background as automakers worked to improve the experience inside the cabin. TheyÂ’ve also become so ubiquitous that, apart from certain standouts like the turbo boxer in the Porsche 718, they ceased to be as exciting to me. Then AutoblogÂ’s long-term 2021 Acura TLX arrived in my driveway, equipped with a 2.0-liter turbo I4. I was excited about the styling and the handling, but I didnÂ’t expect this four-pot to make a huge impression on me. The first time I opened her up under wide-open throttle, though, I was pleasantly surprised. This 2.0TÂ’s 272 horsepower and 280 pound-feet of torque are ample motivation for this sporty sedan, even with all-wheel drive and a 3,990-pound curb weight. It wonÂ’t knock your hat into the back seat, but itÂ’s quick enough, especially in Sport mode. The thing that really won me over with this 2.0T, though, is the sound. Ripping to this thing's 6,800-rpm redline produces a melodious song that sounds a lot more exciting and expressive than most other fours. The cherry on top is the punctuated hiss of the turbo releasing its pressure when you get off the throttle. The amplitude of the engine note is manipulated using AcuraÂ’s Active Sound Control. As an Acura spokesperson explained it: “Active Sound Control uses the TLXÂ’s speakers (whether audio is playing or not) to add sound (same-phase or reverse-phase) to the cabin that smooths the sound of the engine heard inside the cabin. Engine noise doesn't increase in a linear way with rising revs; instead there can be many resonances that create peaks and valleys in the sound pressure level and an uneven sound. The level of ASC is tailored to each drive mode (Comfort, Normal and Sport).” Put another way, ASC is basically an electronic filter that can deaden or amplify the sound and smoothen it out, similar to how active suspension damping adjusts to the situation and drive modes to either let in more or less road feel, while actively eliminating the harshest of vibrations.