2007 Honda Accord Ex L Automatic Leather Moonroof Heated Front Seats Sat Radio on 2040-cars

Auto blog

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's slate for Tokyo Auto Salon includes S2000 revival, many Mugens

Honda has pulled back the covers on what we can expect to see at the 2013 Tokyo Auto Salon, including what looks to be an S2000 refresh some four years after the convertible left production. The S2000 Modulo Climax is an "exhibition model" based on the old roadster, but features updated front and rear fascias as well as an interior trimmed out in black and burgundy. Beyond that, details are scarce as hen's teeth.
Honda will also show off a number of vehicles based on the N-One mini, including the N-One Modulo Style, Mugen Racing N-One Concept and an N-One worked up by the Japan Nailist Association. That last creation features plenty of rhinestone decoration. (We wish we were joking.) Mugen will also display a tarted-up CR-V Design Study as well as the CR-Z Mugen RZ: a 300-unit specialty vehicle.
Meanwhile, the manufacturer's motorcycle arm will show off the Goldwing F6B, previously seen at EICMA 2012 as well as the CB1300 Super Four Special Edition and the NC700X. The automaker will also pepper its stand with a few of its racing machines for the public to enjoy. Check out the full press release below.

2017 Honda Ridgeline: A sleeper or a snooze?

Ah, yes... "Baby Steps," an expression that describes gradual improvements in what preceded. Overused for sure, but it clearly describes Honda's approach to the 2017 Ridgeline. Now that the news embargo is over we will be seeing a slew of preliminary road tests. Time to dig a little deeper, examine Honda's thinking and to see where Honda might go with this new truck. Honda set a number of goals with the new Ridgeline: 1) Sell more trucks. 2) Appeal to current Ridgeline owners who are ready to trade for a new truck. 3) Sell more trucks. 4) Expand their market share by attracting new buyers who hated the styling of the old Ridgeline. 5) Sell more trucks. 6) Convince skeptics that the Ridgeline is indeed capable of doing truck tasks. 7) Sell more trucks. My take is that this new Ridgeline is about 80 percent there; as the saying goes, "Close but no cigar." I'm really curious as to how this truck might evolve. There have been rumors that a regular cab model with a long bed may be in the works. Will we see it? Who knows — but by having such a model available, it would go a long way in terms of convincing (some) critics who say it's nothing but a "Pilot with a bed." Then there's the "youth market." Honda has gone on record saying they're not interested in courting them; a huge mistake in my opinion. Hopefully they'l re-think that and offer a legit off-road model with all the requisite goodies like more ground clearance, 2-speed transfer case, skid plates, tow hooks, larger all-terrain tires —5 of them, meaning no temp spare tire! It doesn't have to be a rock-crawler, but at least give it more capability to be considered an alternative to the 4x4 competition. Another area that needs to be re-thought is that Honda is offering seven trim levels. That's crazy. Most of them are so close to one another that it makes decision-making difficult. Cut it back to three of four trim levels, max. Makes life much easier. But yes, I think this truck, even as it stands, will be a sleeper in its segment and will do reasonably well in terms of sales. I think truck customers have seen and gotten used to the old Ridgeline, and have found — for what it was intended to do, it's really a pretty good truck. This new one certainly builds upon that — and it's no longer ugly. That's all good in my book. Related Video: Image Credit: Honda Honda Truck open road