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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.

Acura to roll out NSX Prototype for Mid-Ohio IndyCar race

Acura will tease us yet again with its next-gen NSX when it makes an appearance at Mid-Ohio Raceway before the circuit's IndyCar race early next month. To be fair, the car's in-motion debut won't take the form of a production model - that's still a ways off - the vehicle will be a prototype. It'll be sporting custom graphics and an eye-catching paint (wrap?) job to draw the attention of the spectators, but really, we just want to hear this thing rounding the legendary road course at full chat.
The NSX prototype doesn't look to be much different from the various showcars we've seen over the last couple of years, with the same mid-engined, hybrid V6 power and all-wheel drive all present and accounted for.
The display will take place before the Honda Indy 200 IndyCar Series on August 4. The race itself starts at 3:00 pm and will be shown on NBC Sports Network.

Is Acura working on a premium minivan?

Here's a vehicle that nobody saw coming. Unless Honda/Acura is keen to play tricks on us, our spy shooters recently caught what appears to be an Acura minivan fully camouflaged for testing on some back roads on a rainy day.
Details on the disguised minivan are rather scarce, but it certainly bares all the hallmarks of an Acura. The front grille alone gives it away with a look that mimics the latest MDX, and note that the orientation of the rear door handle heavily suggests that it slides to open. Moving inside, the tester appears to borrow some tech from the luxury brand's parts bin too, and the Acura logo seems to be covered in tape right in the middle of the steering wheel.
Mechanically, our spies believe that the production version of Acura's minivan might borrow the brand's V6, nine-speed automatic and Super Handling All-Wheel Drive - a similar layout to some trims of the TLX. The photographers also think that the vehicle is a little wider than the current Honda Odyssey to give occupants a bit more room. Given the more luxurious focus, the high-end model would surely carry seven people with a bit more opulence than the standard Odyssey, especially, we'd imagine, for second-row passengers. A launch for this posh hauler could be slated for the 2016 or 2017 model years.