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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).

Acura ILX headed for Civic-like early upgrades

The not-yet-ready-for-primetime 2012 Honda Civic saw it quickly returned to sender for refurbishment, now the Acura ILX is headed in the same direction in its very first year. Automotive News reports that the small, Civic-based sedan from Honda's luxury brand isn't meeting sales expectations, with an annualized rate of 22,000 to 24,000 sales instead of the 30,000 the company is after. More telling is that the ILX "is being outsold by the Buick Verano, Volkswagen CC and Audi A4," and, except for two months since it launched, it has also been outdone by the Acura TSX it is meant to replace.
Part of the cause has been the 2.0-liter, four-cylinder engine: its 150 horsepower to motivate a sedan that can weigh up to 2,970 pounds doesn't offer the kind of performance or value experience that buyers in the segment respond to. Another big issue is that the top-level 2.4-liter engine is only offered with a six-speed manual even though most buyers of the highest trim don't really want to shift their own gears. Lastly, the ILX might not put enough space between it and its frugal underpinnings - our first drive review pegged it as "the world's nicest Honda Civic."
An automatic transmission is on the way for the 2.4-liter, but it isn't clear when. And while Honda admits that the 2.0-liter is underpowered and Automotive News says it's on the way out, the company hasn't yet said how that situation will be corrected.

Jeep Moab Concepts, Rumors, And More | Autoblog Podcast #470

Episode #470 of the Autoblog Podcast is here. This week, Dan Roth, Chris Bruce, and Brandon Turkus talk about this year's concepts for the Easter Jeep Safari in Moab, rumors of a mid-engined Subaru sports car and the looming reveal of the next Impreza. We also cover more rumors of a simpler Acura NSX, and some other tidbits, including Ford's movie projector patent and the Opel Astra winning the European Car of the Year award. As always, we start with the Autoblog Garage and wrap up by answering your questions. Check out the rundown with times for topics, and thanks for listening! Autoblog Podcast #470 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics 2016 Easter Jeep Safari concepts Mid-Engine Subaru rumors Non-hybrid Acura NSX 2017 Subaru Impreza to be revealed at NYIAS Ford patents in-car movie projector Opel Astra is 2016 European Car of the Year In The Autoblog Garage 2016 Mercedes-Benz C450 AMG 2016 BMW X1 xDrive28i Hosts: Dan Roth, Chris Bruce, Brandon Turkus Rundown Intro and Garage – 00:00 Jeep Concepts - 21:57 Mid-Engine Subaru - 38:45 Acura NSX - 43:18 Subaru Impreza - 44:59 Ford Projector - 47:48 Astra ECOTY - 49:50 Q&A - 52:09 Total Duration: 58:11 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Podcasts Acura Ford Jeep Subaru Opel easter jeep safari acura nsx type r