2014 Honda Cr-v Lx 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.

Japanese automakers kick in $800k for new charging-station company

Cynics may say that gathering $800,000 (total) from four of Japan's largest automakers is merely a rounding error. Still, Toyota, Nissan, Honda and Mitsubishi, along with the Development Bank of Japan, are putting those funds to good use. So, that's something. Last week, those five entities officially founded Nippon Charge Service LLC. The company was established to promote plug-in vehicle charging installations across Japan and the automakers seeded it with 80 million yen, or about $786,000 US. Those funds will be used to help business owners deploy charging stations at convenience stores, highway-side locales and other locations that will make it easier for plug-in vehicle drivers (of Toyotas, Hondas, Mitsubishis and Nissans, obviously) to get their juice. The automakers first announced they'd collaborate last year, when they said they'd work with the Japanese government to more than triple the country's publicly accessible chargers to about 17,000 units. No targets were disclosed as far as how many charging stations would be deployed this time out, but, in a move similar to the EZ Charge system in the US, Nippon Charge Service will also have universally-accepted charging cards available by the end of the year to drivers all of those brands' plug-in vehicles to make the charging process a little more seamless. Check out Honda's press release below. Japan Automakers Advance Electric Charging Infrastructure with New Company, Nippon Charge Service -Established to help build charging infrastructure for electric-powered vehicles (PHVs, PHEVs and EVs)- Toyota Motor Corporation Nissan Motor Co., Ltd. Honda Motor Co., Ltd. Mitsubishi Motors Corporation Development Bank of Japan Inc. TOKYO, Japan, May 30, 2014 - Toyota Motor Corporation, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., and Mitsubishi Motors Corporation jointly established a new company, Nippon Charge Service, LLC, on May 26 to promote the installation of chargers for electric-powered vehicles (PHVs, PHEVs, EVs). The goal is to help build a charging network that offers more convenience to drivers in Japan. The new company will promote the installation of chargers, for the good of society and to expand the use of electric-powered vehicles. Related industries are also expected to benefit. Development Bank of Japan Inc.

2017 Honda Civic Si fills the performance gap between Sport and Type R

Yes, North America will finally get the hyper hot Civic Type R. But that doesn't mean Honda has dismissed the Si from duty. On the contrary, the Civic Si is back, and the Prototype coupe that's debuting at the Los Angeles Auto Show looks better than ever. Honda's senior VP and general manager Jeff Conrad says, "This will be, hands down, the fastest, best-handling Si we've ever offered to our customers." To do this, Honda has equipped the Si with a turbocharged 1.5-liter four-cylinder. The company didn't reveal output, but considering Conrad's statement, it's probably be safe to say it will make somewhere between 205 horsepower (the output of the previous Si) and 306 horsepower (the output of the previous Type R). That engine will send power through a six-speed manual transmission and a limited-slip differential. Also part of the Si package will be active steering and dampers, plus a high-performance tire option. View 16 Photos Honda made sure to upgrade the Civic Si's looks to match the performance, but not to the extremes of the Type R. The body appears to have the same overall width of the standard coupe, and it gets the front bumper and black grille from the hatchback along with a revised rear bumper. The front bumper gets a splitter, and the tail gets a wing. One of the most distinctive styling elements is the center-exit exhaust, which features a single hexagonal tip. Of course, both ends of the car get red Si badges, and the whole thing rides on 19-inch wheels. Surprisingly absent, though, are Honda's traditional "i-VTEC" stickers along the sides, which have appeared on Civic Sis since at least the 1999 model. The interior also gets a sporty treatment, and that apparently involves a healthy application of the color red. The floor mats, contrast stitching, instrument panel, and infotainment system are all finished in the hue. The seats are Si-exclusive, and feature the Si logo stitched into the seatbacks. Drivers will shift with an aluminum ball-shaped knob, and dance on aluminum pedals. There's a "sport" button next to the shifter, which we can guess probably sharpens up the shocks and steering. Honda says this prototype interior "closely previews" the final production version. Though Honda only showed a coupe version of the Si, the company will offer a sedan version for people who need the added practicality. There's so far been no mention of a hatchback version. Honda only provided a rough release window of next year and hasn't give any pricing.