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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 teases tougher looking 2017 MDX for New York

Acura is teasing its redesigned 2017 MDX with this orange-tinged rendering ahead of the three-row SUV's reveal at the 2016 New York Auto Show on March 23. The luxury automaker promises big changes for the latest model, including "substantial design enhancements, added luxury comfort and convenience features, and advanced new powertrain technology." Unfortunately, the company doesn't offer further details about those general promises. The folks at the Acura Design Studio in Torrance, CA, have much bolder styling ready for the 2017 MDX. While these lines aren't as razor-sharp as the Acura Precision Concept from the 2016 Detroit Auto Show, this SUV subtly evokes the sedan's honed look. For example, the chiseled shapes around the hood and grille are crisp, and the front and rear fenders are highly sculpted, which gives the MDX a tough demeanor. This teaser image makes the lower fascia appear a little busy because there's so much happening down there, but we're withholding judgment until the real thing debuts. We're also curious about the additional powertrain advancements Acura promises because the automaker just updated the MDX last year with its nine-speed automatic gearbox and twin-clutch Super Handling All-Wheel Drive. The company also added expanded availability of its AcuraWatch active safety suite to the 2016 model. Related Video: Redesigned and Reengineered 2017 Acura MDX to Debut at 2016 New York International Auto Show America's best-selling three-row luxury SUV to receive substantial design changes, new features and new powertrain technology TORRANCE, Calif. (Feb. 24, 2016) – Acura will unveil the redesigned and reengineered 2017 MDX luxury SUV at the 2016 New York International Auto Show on March 23. The 2017 MDX will boast substantial design enhancements, added luxury comfort and convenience features, and advanced new powertrain technology, in concert with the Acura brand's focus on Precision Crafted Performance. "We are sharpening our focus on the Precision Crafted Performance DNA of the Acura brand and the 2017 MDX will integrate new styling elements and powertrain technology that takes us another step in that direction," said John Mendel, executive vice president of American Honda Motor Co., Inc. The Acura MDX is the best-selling three-row luxury SUV of all time and Acura's best-selling SUV, with sales topping 50,000 units in each of the past three years. The 2017 MDX was designed by the Acura Design Studio in Torrance, Calif.

2022 Acura MDX First Drive Review | Sportier and more luxurious than ever

The 2022 Acura MDX is Acura’s latest, completely redesigned model in whatÂ’s shaping up to be a rekindling of the Japanese luxury brand. Acura smacked us across the face (in a good way) with the luxurious and sporty TLX last year, and now itÂ’s trying to do the same with its three-row family crossover. 2020 saw the MDX become AcuraÂ’s best-selling model of all time, surpassing 1 million total sales. Granted, itÂ’s been around since the turn of the century, but thereÂ’s no underselling how important the MDX is to Acura. Enthusiasts like ourselves are far more intrigued by the performance cars, but the MDX is where Acura is printing its money. However, its cash cow status hasnÂ’t restrained Acura from transforming the new MDX into a crossover thatÂ’s likeable to both enthusiasts and the public at large. ThatÂ’s the Acura we remember and love. The 2022 MDX rewrites its story with a new “light truck” platform that's exclusive to Acura Â… for the time being. When we asked what this platformÂ’s future might be, an Acura spokesperson told us that “this platform will underpin other models in our company portfolio, but weÂ’re not speaking to that at this time.” Most likely, Acura is referring to the next-generation Pilot (along with the Passport and Ridgeline), considering that every previous MDX has been related to Honda's three-row crossover. For now, however, this new platform facilitates the MDXÂ’s longer dash-to-axle ratio (4 inches greater than before), which gives it proportions similar to rear-drive-based competition from Europe and elsewhere. It also results in greater cabin space, better handling and new technologies, but we need to address the design first. 2022 Acura MDX Advance View 23 Photos The transformation is substantial, as the 2022 MDX is both wider and longer than its predecessor. Where there was slop and slouch before, there is none today. Its upright face, mesmerizing grille, big wheels and sharp lighting elements make the MDX stand out in the crossover crowd. This redesign takes the MDX from being one of the least fetching options in the segment to standing tall as one of the most stylish. Big styling wins havenÂ’t always been easy for Acura to come by over the last 10-plus years, but chalk this one up as another feather in the cap following the dashing new TLX. The new MDX platform contributed to these good looks, but it also brings a splash of utility.