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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.

New Honda smart cruise control predicts other motorists' future idiocy

It's not quite "Open the pod bay doors, Hal," but we're getting there: Honda is offering a predictive cruise control system on the Exectuve Grade Honda CR-V in Europe starting this year. Advancing the capabilities of the present adaptive cruise control, the Intelligent Adaptive Cruise Control (i-ACC) will be able to foresee and automatically react to other vehicles cutting in ahead of you up to five seconds ahead of it happening. A research team developed the system after studying European driving patterns for years. The i-ACC keeps track of surrounding cars with a camera and radar, "evaluating relations between multiple vehicles" and running the data through an algorithm to figure out who's going to do what. If it detects another car about to move into your lane, the CR-V brakes softly and a dash light illuminates to let the driver know what's about to happen, then it brakes a little more firmly to keep the proper distance after the other car moves in. Honda says it works in the UK and on The Continent because it knows which side of the road you're driving on. That means it could work here, but our guess is that it will take a while for that happen, our driving patterns being a little more erratic - and that's putting it kindly - than those of our Euro brethren. There's a press release below with more information. Honda to Introduce World's First Predictive Safety Cruise Control System 08.01.2015 - Honda is to introduce the world's first predictive cruise control system known as Intelligent Adaptive Cruise Control (i-ACC), capable of foreseeing and automatically reacting to other vehicles 'cutting-in' to the equipped vehicle's lane. Based on extensive real-world research of typical European driving styles, Honda's Intelligent Adaptive Cruise Control (i-ACC) uses a camera and radar to sense the position of other vehicles on the road. It then applies an algorithm to predict the likelihood of vehicles in neighbouring lanes cutting-in by evaluating relations between multiple vehicles, enabling the equipped vehicle to react quickly, safely and comfortably. i-ACC will make its debut this year on the new European CR-V*, building upon the traditional Adaptive Cruise Control (ACC) system. Traditional ACC systems keep a preselected longitudinal velocity, which is only reduced for maintaining a safe distance to a car in front. However, if a vehicle cuts-in from a neighboring lane, the traditional ACC system reacts later thus requiring stronger braking.

Question of the Day: Ever consider driving a minivan?

Since I'm supposed to know something about cars, it happens all the time: friends and relatives ask me advice about what kind of vehicle they should get. Very often, the only type of vehicle that can check every item on their wish list (e.g., hauls lots of people and stuff, gets good fuel economy, has great crash-test ratings, can take four Great Danes camping, and so on) is a modern minivan... and, of course, nobody wants to hear this. I'm not a minivan person, they will wail, and so they end up with a cramped, fuel-swilling SUV or a not-so-space-efficient minivan-in-disguise CUV. So, is it worth becoming one of those minivan people in order to get the incredible usefulness of these masterpieces of vehicle engineering, or do you hold your head high and drive something that doesn't quite meet your needs? Related Video: Auto News Design/Style Chrysler Honda Toyota Minivan/Van question of the day questions