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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.

Honda Civic Hatchback Luggage Test: How it compares with sedan and Integra

Well, we have a first here at Autoblog Luggage Test HQ: the first time I've done the next-generation of a make/model that's already been luggage tested. I know, right, very exciting. So, for the first time, I'll be able to report how a vehicle compares with its immediate predecessor. As this is the Honda Civic hatchback, I can also show you how it compares with the Honda Civic sedan and the mechanically related Acura Integra. So. Many. Comparisons! In short, the Civic is a definitive example of why you can't really compare the cargo volume figures of a sedan and a hatchback (or wagon, SUV or other hatchbacked vehicle). The specs say the hatchback has 24.8 cubic-feet of space whereas the Civic sedan has 14.8, yet as I'm about to show you, the sedan actually has more space for holding bags or whatever. This is already a phenomena I covered with the Integra and its 24.3-cubic-foot trunk. Apparently, that half a cube makes a difference as it was indeed easier to load bags into the Civic hatch.  Top Civic hatchback, bottom left Civic sedan, bottom right Integra Some key observations here with this trio. The Civic sedan is 4 inches longer than the Civic hatchback, almost all of which is behind the rear axle. This lends its trunk greater length than the hatchback, which is more useful for stuffing in luggage. The Civic hatchback (and Integra) have more height, which balloons the cubic-foot number, but doesn't really provide much help in this test since I don't pack to the roof for safety, visibility and consistency reasons. If you lower the back seats, it's a whole different ballgame, but I'll get to that later. Now, to the bags. As in every luggage test I do, I use two midsize roller suitcases that would need to be checked in at the airport (26 inches long, 16 wide, 11 deep), two roll-aboard suitcases that just barely fit in the overhead (24L x 15W x 10D), and one smaller roll-aboard that fits easily (23L x 15W x 10D). I also include my wife's fancy overnight bag just to spruce things up a bit (21L x 12W x 12D). You can really see the difference in trunk length here. In the sedan (above right), you can fit the small roller bag behind the four biggest bags lined up. Definitely can't do that in the hatchback above left. In short, all the bags fit in all the cars (with some asterisks). It was a much easier fit in the sedan, though, and you can see that there's some extra space on either side of the egg-crusher hinges.

2017 Tokyo Motor Show | Mega Gallery

The 2017 Tokyo Motor Show has been a big and busy one. It's also had machinery ranging from beautiful to bizarre. But there's been something for everyone. Companies such as Honda and Subaru brought performance oriented vehicles, Toyota showcased a wide array of funky and practical concepts, and Yamaha even broke away from motorcycles to do another car concept. You can check all of these vehicles out, and more in the galleries below. 2018 Honda Gold Wing: View 5 Photos Honda Neo Sports Cafe Concept: View 5 Photos Honda Riding Assist-e Concept: View 7 Photos Honda Sports EV Concept: View 5 Photos Honda Super Cub: View 3 Photos Isuzu FD-SI and Elf EV: View 9 Photos Lexus LS+ Concept: View 18 Photos Mazda Kai Concept: View 18 Photos Mazda Vision Coupe Concept: View 15 Photos Mitsubishi e-Evolution Concept: View 8 Photos Nissan IMx Concept: View 29 Photos Nissan Leaf Nismo Concept: View 8 Photos Subaru Viziv Performance Concept: View 12 Photos Toyota Century and Crown: View 7 Photos Toyota Concept-i Series: View 16 Photos Toyota GR HV SPORTS Concept: View 6 Photos Toyota Tj Cruiser: View 12 Photos Yamaha Concepts (Cross Hub, MOTOROiD, MWC-4, Motobot): View 5 Photos Related Video: Tokyo Motor Show Honda Isuzu Lexus Mazda Mitsubishi Nissan Subaru Toyota