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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.

How the Autoblog staff would configure the 2017 Acura NSX

The configurator for the 2017 Acura NSX is now online, and it finally lets people spec this long-delayed supercar. Technically prices start at $157,800 (after $1,800 for destination), but you can't actually get one like that yet. The iron brake rotors aren't available until late 2016, which means the carbon-ceramic rotors with black calipers are the least expensive choice at $9,900. The cost ticks up to $10,600 if you want calipers in silver or red. The build process inspired so much conversation among the Autoblog staff that we decided to share our choices with you and explain why we picked them. Let us know what you think in the comments. MICHAEL AUSTIN - $198,950: Mine's expensive, but I figure another 15 percent or so is irrelevant when the car already costs so much. I love the blue - it's alluring without being too flashy. Saddle leather is a must for me; it's definitely the best interior color. I skipped the carbon-fiber exterior sport package, just because I like the cleaner look of the standard body. Otherwise, carbon-fiber overkill: roof, rear spoiler, interior trim, and engine cover. If I had to cut costs I could sacrifice the $10,600 carbon ceramic brakes, which are probably unnecessary – but I'd have to wait until later this year. My only question is: where are the optional Michelin Pilot Super Sport tires I loved during our First Drive? CHRIS BRUCE - $180,700: I tried not to go too wild when speccing mine, but some upgrades seemed necessary. The standard black leather was too dark, so I opted for the Saddle and Alcantara, which added $1,500 to the price. I also picked with the matching black Alcantara headliner for $1,300 and the upgraded audio system for $2,800. For the outside, I loved the Nord Gray Paint, which has a little green in it, and I splurged for the $6,000 carbon fiber roof. To finish things off, I went with the silver calipers on the carbon-ceramic brakes for $10,600. STEVEN EWING - $172,700: I'm not the extravagant type. I don't want flashy colors, red calipers, or unnecessary carbon fiber crap on the outside. Give me something that flies under the radar, with the only the options I need. Plus, the NSX hardly feels like a $200,000 supercar to me. ALEX KIERSTEIN - $176,500: Japanese cars tend to look best in classic white, so I went with that for the exterior. I like a dark interior, but I also love Alcantara – so that goes on the headliner. The carbon-fiber roof is a bit of an extravagance, but this is all fantasy, right?

2017 Acura NSX No. 1 just rolled off the line in Ohio

The 2017 Acura NSX is officially in production. NASCAR titan Rick Hendrick, who paid $1.2 million at auction for the first one, drove it off the line Tuesday at the NSX factory in Marysville, OH. VIN No. 1 wears Valencia red pearl paint. It is equipped with carbon-ceramic brake rotors, leather and Alcantara trim, and uses carbon fiber for the engine cover, roof, and rear spoiler. Top that off with upgraded wheels, and it has every available option. The NSX is powered by a 3.5-liter twin-turbo V6 that teams with three electric motors for a system output of 573 hp and 476 pound-feet of torque. It has a nine-speed dual-clutch transmission and all-wheel drive. The NSX will start at $157,800 and maxes out north of $205,000 for a fully loaded model like this one. Hendrick's heady price came from his winning bid at the Barrett-Jackson auction in Arizona in January, with proceeds going to the Pediatric Brain Tumor Foundation and Camp Southern Ground. Hendrick, owner of Hendrick Motor Sports and the Hendrick Automotive Group, has also paid hefty prices for the first 2015 Chevy Corvette Z06 and 2014 Chevy Camaro Z/28 in support of charities. The NSX launch is a milestone for American Honda, which has built cars in Ohio for more than 30 years. The NSX is assembled at the company's Performance Manufacturing Center, and the engines are hand-built at a nearby facility in Ohio. "Today marks the realization of a big dream here at the PMC and the culmination of more than 30 years of manufacturing experience and expertise here in Ohio," Clement D'Souza, engineering large project leader for the NSX, said in a statement. "Our world class team of expert technicians, through their passion, has realized major innovations in the design and manufacturing of a next-generation Acura supercar that truly delivers incredible precision-crafted performance." Related Video: Image Credit: Acura Design/Style Green Plants/Manufacturing Acura Coupe Hybrid Performance Supercars rick hendrick