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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.

2022 Acura MDX Type S First Drive Review | Spicy-enough family hauler

NAPA, Calif. — First things first: The 2022 Acura MDX Type S is not the Honda premium brandÂ’s attempt to create a BMW X5M. Then again, at $67,745, it comes in 30 grand under the storming German SUV. So while the Type S carries the imprimatur of high performance, it is priced more in line with the entry-level BMW X5 xDrive40i, plus the Audi Q7 55 TFSI and Mercedes GLE 450 4Matic that have upgrade engines but fall well short of being considered high-performance models. Acura makes a more convincing showing of it with the Type S, but you still get what you pay for – and sometimes paying less is OK. What Acura has created is an upgraded midsized SUV that gives sufficient sportiness to enthusiastic drivers, without clamping down on handling and braking harder than ThanosÂ’ gauntlet. HereÂ’s what to tell your friends at the bar: Acura ripped out the stock 3.5-liter V6 for a 3.0-liter sequential twin-scroll turbo that adds 65 horsepower (to 355) and 87 pound-feet of torque (to 354), and beefed up the 10-speed automatic transmission with a new torque converter, stronger gears and improved clutches to handle the increased power. It was also reprogrammed for improved response, especially in the new, Type S-exclusive Sport+ mode. Brake upgrades include four-piston 14.3-inch Brembos up front. And Acura claims its first-ever air suspension – courtesy of supplier Continental – delivers both improved ride and dynamic performance. What does that mean when youÂ’re actually behind the wheel? On a rainy day in Napa, California, marked with intermittent drizzle that turned the narrow two-lane roads greasy and slithery, the MDX Type S revealed its beefy size on occasion but also comported itself confidently. Most confident on corners marked “35 mph” or above, the Type S felt a bit bogged down in slower corners – especially when getting on the gas too early. Acura claims that its torque-vectoring Super Handling All-Wheel Drive will help round off corners when accelerating out of an apex, but the laws of physics and slippery roads still apply. Hitting the gas earlier in a wet cornerÂ’s apex can result in some bonus wheel slippage and mini-rotations thanks to SH-AWD, which is great fun if you are expecting it from this 4,741-pound beast.

Acura reveals Ludacris' restored Legend, Galpin ILX at SEMA

Acura gave us a hint couple of weeks ago at what it had in store for the SEMA show this year. The Japanese luxury marque has detailed the full extent of its presence at this year's tuner expo, but the main act under the Acura tent (oddly enough) isn't a new vehicle. The star of the show is a 1993 luxury sedan with celebrity provenance. The Legend belongs to rapper-turned-actor Chris "Ludacris" Bridges, of hip-hop and Fast & Furious fame. The automaker has thoroughly restored and modernized the vehicle that featured on the cover of his ninth studio album Ludaversal. At the end of a two-month project, the sedan has been refinished in a custom shade of Warm Cashmere with Ice Pearl. It now rides on 18-inch Rays alloys with Bridgestone Potenza rubber, fitted to a suspension lowered by two inches with H&R springs and Eibach camber kit. It has upgraded brakes with six-piston calipers up front and four-pots at back, and a Pioneer audio system with Alpine subwoofers and Apple CarPlay integration. To complement the Legend, Galpin worked up a 2016 Acura ILX. It has an aero kit, fog lights, custom exhaust, coilover suspension, Borla exhaust, and 19-inch wheels with Pirelli P Zero rubber. The body's been repainted in Sunburst Yellow with gray accents, and sports an interior with perforated leather and gold trim. There'll be another ILX on display with Acura Genuine Accessory parts as well. But the Japanese automaker won't miss the chance to display its new NSX. The supercar's being showcased in a new shade called Nouvelle Blue Pearl. Watch this space for live photos from the show floor, and scope out the details in the press release below in the meantime. Related Video: Acura Showcases Passion for Performance at 2015 SEMA Show Highlights include restored 1993 "Ludacris Legend", a sport-modified 2016 Acura ILX Sports Sedan, next-generation Acura NSX supercar and 2016 ILX with Acura Genuine Accessory package LAS VEGAS, NV. (Nov. 3, 2015) – Acura today thrilled the 2015 SEMA Show with multiple innovative expressions of the brand's performance-crafted DNA – past, present and future – including the debut of the meticulously restored 1993 "Ludacris Legend" sedan, a sport-modified 2016 Acura ILX by Galpin Auto Sports, and the next-generation Acura NSX supercar, slated for its U.S. launch next spring. The Acura exhibit also features a 2016 Acura ILX with the Acura Genuine Accessory Package in Slate Silver Metallic.