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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.

Snapshots from Acura NSX prototype run at Mid-Ohio

Acura's achingly slow showing of the new, hybrid NSX saw yet another step yesterday, as we reported late last week. A powder-blue prototype ran ahead of the open-wheelers at the Honda Indy 200 at the Mid-Ohio Sports Car Course. Why show the NSX Prototype at Mid-Ohio? Honda's Ohio research and development center, which has taken the lead on NSX development, is just 60 miles from the track. And as race sponsor, Honda must have figured it would give the spectators a glimpse of the new supercar it's been teasing for the better part of a decade.
With a planned launch in 2015 (special emphasis on the "planned" part, considering the NSX's history), the NSX Prototype shown here sports graphics that "speak to Acura's intention to go racing with the new NSX." That's great news for fans of endurance racing, although it remains to be seen when a motorsports program for the new NSX will get off the ground.
Take a look at the fresh gallery of images, and be sure to head over to our original Mid-Ohio post for the video footage of the NSX Prototype on track.

Pedestrian deaths increase; cell-phone distractions may be culprit

In Philadelphia, city officials are running a public-safety campaign that implores road users to simply "Put. Phone. Down." In Florida, a similar advertisement reminds people, "Alert Today, Alive Tomorrow." What's unusual about these messages is that they target pedestrians. Amid widespread concern about distracted drivers on American roads, there's a growing body of research that suggests distracted walking is equally problematic. Pedestrians engrossed in their phone, text or Tinder conversations are stepping into intersections without so much as a glance at oncoming traffic. That may be one reason pedestrian deaths are increasing. They jumped 15 percent in a five-year period between 2009 and 2013, according to a study released this week by the Governors Highway Safety Association, with 4,735 killed in 2013. In the same time, overall traffic fatalities have fallen by 3.4 percent. Pedestrian deaths now comprise 14 percent of all traffic fatalities, and approximately one pedestrian death occurs every two hours in the United States. Alcohol is still a top culprit – it's involved in 49 percent of pedestrian deaths on either the part of driver or walker – but as cities rush to implement a wave of slower speed limits, wider sidewalks and street medians to counter pedestrian deaths, there's new focus on holding pedestrians accountable for eliminating distractions. "Undoubtedly, motorists are responsible for many pedestrian accidents," said a July newsletter from the National Motorists Association. "But pedestrians must also assume responsibility for their own safety." This week's report from the GHSA cites growing research that suggests pedestrians aren't yet doing their part. At 20 high-risk intersections, 26 percent of pedestrians wore headphones, 15 percent were texting and 13 percent talked on the phone, according to a 2013 University of Georgia study. More recently, a William Paterson University study issued earlier this year found more than 25 percent of New York City pedestrians were distracted by either their phones or headphones. Half of the pedestrians who crossed with a "Don't Walk" signal were distracted. "Getting smashed at the bar? Don't get smashed walking home." - Minnesota public-safety campaign.