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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 will sell its EVs exclusively online starting in 2024

Honda has big plans for the new year and electrification will play a huge part of that, the company's recently-promoted SVP of Sales, Mamadou Diallo, told reporters on Tuesday. Expect to see a lot more Honda and Acura hybrids on the road this year, ahead of a major EV push come 2024. Overall, Honda is officially aiming to move 1.2 million units in 2023, with Acura shooting for 160,000 units, a 20-25% increase over what they sold in 2022. And although the company managed to maintain a single-digit days' supply of vehicles throughout last year, it enters 2023 with a glut of cars and trucks and a 17-day supply. As such, dealers are going to be looking to move a lot of that inventory before this year's models start arriving so fingers crossed, we could potentially see some Tesla-level price cuts in the near future. "In 2023, we will see the strategies we've been talking about, including growing sales of light truck models, increasing volume of hybrid-electric models and the start of digital sales at Acura," Diallo said in a Wednesday press release. "All this leads toward our vision of 100-percent electrified sales by 2040 to fulfill our ultimately goal of zero emissions by 2050."  The ZDX and ZDX Type S will be Acura's first full-EV offerings and serve as the harbingers of the company's new, exclusively online EV sales strategy. Diallo didn't have much additional information regarding how the system would work — such as whether haggling was allowed or how individual vehicle prices would be set — but assured the assembled journalists, "as we get closer to [the ZDX debut], we certainly will be discussing this a little bit more with our dealer body and the press in general. For right now we're still finalizing all those details." Acura joins Ford, Volvo, GM and VW in shifting its electrified vehicle sales to the digital marketplace.  For its part, Honda is planning a significant increase in its hybrid vehicle production in 2023, starting with the newly-redesigned Accord and Accord Hybrid (they'll also be Honda's first with Google Built-In). The company "will continue to increase hybrid sales through core models as an important step in bridging customers to full electrified vehicles while reducing GHG emissions," the Wednesday release reads. Honda anticipates a solid half of this year's CR-V and Accord sales to be of the hybrid variety and its efforts bolstered in 2024 with the introduction of a new Civic hybrid.

Second-generation Acura TLX could inaugurate a turbocharged V6

The second-generation TLX will inaugurate a turbocharged V6 engine developed specifically for the Acura brand, according to a recent report. The six will power a range-topping, performance-oriented variant of the sedan. Honda's luxury division gave us a thinly-veiled preview of the next TLX when it introduced the Type S concept (pictured) at The Quail in 2019. While technical details were left out of the announcement, Car and Driver learned from sources familiar with the company's plans that the sedan will receive a new V6 whose displacement will likely check in at 3.0 liters. It will reportedly make over 300 horsepower thanks to at least one turbocharger. The 3.0-liter will replace the 290-horsepower 3.5-liter V6 available in the current-generation TLX. Several members of the Honda range also use the bigger six, it's notably found in the Ridgeline pickup, but none will receive its replacement; it's Acura-specific. Transmission options remain unconfirmed. C/D added the TLX will receive a turbocharged, 2.0-liter four-cylinder as its entry-level engine. It's related to the four that powers the Honda Accord, and it will spin the front wheels via a 10-speed automatic transmission. All-wheel drive will be offered at an extra cost. The sedan will ride on a new platform, and it will drive better than its predecessor regardless of cylinder count thanks in part to a comprehensively redesigned front suspension. Earlier spy shots depicting heavily-camouflaged test mules suggest the next TLX will look a lot like the Type S concept. It will take Acura's design language in a more evocative direction that will permeate the rest of the range in the coming years. Inside, motorists will find a touchpad-controlled infotainment system like the RDX's. Acura resorted to automotive omerta when asked to confirm or deny the rumors. The company simply told Autoblog it will introduce two new vehicles in the next 12 or so months and unveil a brand-exclusive turbocharged V6, which adds credibility to the report. We'll need to muster a little bit more patience to learn more. Related Video:     Featured Gallery Acura Type S Concept photos View 16 Photos Rumormill Acura Sedan