1992 Honda Civic, No Reserve on 2040-cars

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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.

2016 Civic Coupe: The Prelude is back!

Honda used to sell a coupe loosely based on the Accord architecture that was sporty yet economical, it was called the Prelude. Many Honda aficionados have fond memories of the Prelude, it was more than just a sportier Accord, but not quite a true sports car. It was a car you could take out and toss around on the weekend, but also drive to work every day of the week. It was a testbed for new Honda technologies while still being a car you could put hundreds of thousands of miles on. The Prelude was a sporty car, not overly powerful, but just balanced enough to be a slow car you could drive fast. It handled extremely well, it had an interior that was no-nonsense and controls that were equal to or better than any of it's contemporaries. Sadly as the market waned for sporty coupes the venerable Prelude lost sales and Honda altered their focus to selling CR-V's and Pilot's. In 2001 Honda shelved the Prelude, but now it is making a comeback, well not exactly, but after sampling a new Civic Coupe I believe the spiritual successor of the Prelude has finally arrived at Honda. You might be wondering why the new generation Civic Coupe has more Prelude DNA than any of the Civic models which have come before it? The answer comes down to several objective and subjective factors. Objectively the new Civic Coupe hits the sweet spot on Prelude dimensions. When the Prelude debuted in 1978 it had a wheelbase of 91.3 inches and an overall length of 161 inches. Over five generations the Prelude grew to a wheelbase of 101.8 inches and an overall length of 178 inches. The new Civic Coupe rides a longer wheelbase of 106.3 inches but has nearly identical overall length at 176.9 inches. Width of the new Civic is 70.8 inches vs. the last generation Prelude at 69 inches, the new Civic matches the Prelude of yore with a curb weight range of 2750-2900 lbs vs. the 2950-3000 lbs range of the Prelude. In the engine department Honda is offering two units, a 158 HP naturally aspirated 2.0 liter 4 and a 174 HP 1.5 liter turbo mill. The five Prelude generations featured Horsepower ranging from less than 100 in gen 1 to 200 by gen 5 from a naturally aspirated 2.2 liter 4. The last generation of Prelude would hit 0-60 in about 7 seconds, the current model Civic with a CVT and the 1.5 turbo will hit 60 slightly faster. Many cars today feature similar specs to these two coupes and so did some of the prior model year Civic's so what makes this one the heir to the Prelude name?

Japan wants to boost fuel-cell numbers 100x by 2020

How many hydrogen refueling stations will Japan need? Can each station handle 250 fuel-cell vehicles? They can in the Japanese government's new plans for hydrogen fuel-cell vehicle growth and station deployment throughout the country. With Prime Minister Shinzo Abe continuing to trumpet fuel cells as the advanced powertrain of the future, the government says the number of fuel-cell vehicle on its roads will multiply by 100 within the next four years, according to the Japan Times. Specifically, Japan, which is home to about 400 fuel-cell vehicles today, hopes to have 40,000 by 2020 and a whopping 800,000 by 2030. More importantly, Japan has 80 stations either in operation or slated to be deployed soon, and hopes to double that number by the end of the decade. For perspective's sake, the US has about two-dozen publicly accessible hydrogen fuel cell stations today, according to US Department of Energy. The newer ones are can dispense 100 kilogram a day, which can fuel 20-25 cars a day. Japanese automakers Honda and Toyota appear to be trying to do their parts in the H2 plan. Earlier this month, Honda started leasing its Clarity fuel-cell vehicle in Japan and is planning to bring them to California later in the year. The vehicle, which is priced at about $68,000 in Japan, is said to be able to travel about 466 miles on a full hydrogen tank, per the more lenient Japanese driving cycle (roughly 300 miles on the US scale). Honda will start production at a rate of 200 vehicles a year. With skin in the game, though, Honda indicated late last year that it was frustrated with what it said was the slow pace of fuel-cell station deployment in Japan, according to Bloomberg News. Honda was collaborating with hydrogen supply company Iwatani Corp. on what they called a "Smart Hydrogen Station," though that concept was in its testing phase as of last December. The Mirai also started sales in Japan and debuted in limited numbers in California last year. Last fall, Toyota set a rather lofty goal of selling 30,000 fuel-cell vehicles a year by 2020 as part of its Toyota Environmental Challenge 2050. Related Video: News Source: Japan TimesImage Credit: YOSHIKAZU TSUNO via Getty Images Green Honda Toyota Hydrogen Cars