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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 NSX to end production in blaze of glory with Type S

Production of the Acura NSX is coming to an end after the 2022 model year. Before it goes, though, Acura is promising one last hurrah, in the form of a Type S variant. Said to have performance improvements and limited production, it will prove to be the ultimate form of Honda's second-generation supercar. So far, Acura has only released some teasers and a few vague statements. Now, normally when car companies make ambiguous declarations about improved performance, that means something like stiffer shocks or bigger rims (after all, handling is a form of performance, no?). In this case, Acura specifically says the NSX Type S will have more power and quicker acceleration in addition to sharper handling. That's some real talk, even if no hard figures were provided at this time. From the teasers, we can see a few visual signifiers that will distinguish the Type S from regular NSXes. Firstly, the engine cover is finished in red, a color that has traditionally been reserved for high-performance Hondas like the Type R Civic, Integra, and the NSX of the '90s. Much of the brightwork seems to be blacked out, like the door handles and rear badge. They've also added a small Type S emblem located just in front of the rear wheels. Only 350 Type S variants will be built, with 300 of them allocated for the U.S. market. And it looks like the regular NSX may not even be available. Acura's website no longer shows the regular NSX. Only the Type S is shown under the model selection menu. Prices of the first-generation NSX, introduced in 1990 and considered one of the best supercars of its era, have been on a steady rise in recent years. It's hard to say whether this generation NSX will follow suit in the collectors' market decades from now, as despite positive reviews it never quite caught with brand-conscious buyers. But if it does end up becoming a sought-after classic, though, the Type S will surely be worth a hefty premium. The NSX Type S will be fully revealed next Thursday, August 12, during Monterey Car Week, where the very first serial production 2022 NSX Type S will be sold to the highest bidder at Mecum Auction’s Monterey sale on Saturday, Aug. 14. All proceeds from the sale of VIN #001 will benefit charity, including a STEAM (science, technology, engineering, art and math) education program for underserved youth.

2022 Acura NSX Type S Road Test Review | An ode to itself, and a gift for drivers

As we say goodbye to the modern NSX, Acura saw fit to leave the world with a parting gift. As a last blast, the hybrid supercar got a Type S variant as a mighty sendoff, with more performance and improved handling. It’s a rare treat, though, for those who could afford its $171,495 starting price. The first example sold for over a million dollars, and the remaining 299 units were scooped up in a day. Road Test Editor Zac Palmer had the once-in-a-lifetime opportunity to take the NSX Type S for a lap around Daytona, and this fall our driveway had the privilege of being graced by the carÂ’s presence for a few days. And this NSX looks as extreme as it drives, a sharp wedge that combines aesthetics of exoticism and straight-up evil. This one, in particular, cut a mean figure, with its matte charcoal finish, blacked-out badging, plenty of carbon fiber, sharp angles and an odd-looking engine cover covering an odd powerplant, all under glass right behind the cockpit. Though the general shape of the car is familiar to supercar fans from the mid-1970s and beyond, thereÂ’s no mistaking this Acura for something else, its honed exterior a reflection of the carÂ’s performance. Zac already outlined what performance upgrades set this Type S apart from the rest of the generation, but itÂ’s good to know this wasnÂ’t mostly about looks. Acura upgraded the V6Â’s twin turbochargers, improved its air and thermal management capabilities, and lowered the gear ratios of the twin electric motors up front. It even got a higher-capacity, higher-output battery powering the hybrid system. The result is a cool 600 horsepower and 492 pound-feet of torque. It's shockingly quick, but itÂ’s hard to tell if itÂ’s actually faster in a straight line than the lesser NSX. The overall driving experience is improved, however. In the Type S, Acura has achieved incredibly quick shifts from the retuned nine-speed automatic. It works well on its own, but the response you get from pulling one of the paddles almost feels as though the car had predicted your move, and is supremely rewarding in terms of driver engagement. ItÂ’s quite generous in its compliance to your whims, too, allowing you downshifts that land you higher in the rev range than youÂ’d expect it to allow — in fact, Acura actually raised the manual downshift rev limit by 1,500 rpm. What a wonderful treat to give customers as a parting gift.