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Honda reports $1.9 billion profit in first quarter despite sales lag at home

Ford, General Motors and Chrysler have been living in a world of sunshine and buttercups after their April-through-June financials hit the newswire, and Toyota is doing pretty good as well. Honda? Not so much.
While Japan's third-largest manufacturer saw $1.9 billion in profits, the 5.1-percent jump was lower than expected thanks to a drop in its home-market sales. US sales also took a sting, as Honda hasn't been able to match the SUV and truck demand that are currently permeating the American market, despite an uptick in Accord sales.
Honda's initial forecasts targeted a take of 209.3 billion yen ($2.1 billion at today's rates), and while a $200 million shortfall is nothing to sniff at, we'd hardly take this as Honda being in trouble. And even with the dip, Honda hasn't adjusted its forecast for the fiscal year, which remains at 780 billion yen ($7.9 billion).

2024 Acura RDX is another model dropping front-wheel drive

After Acura made small changes to the RDX for the 2022 and 2023 model years, Honda's premium arm is carrying the 2023 version nearly unchanged into 2024. There's a familiar drivetrain tweak that we've covered across the automaker spectrum, though, with Acura dropping the front-wheel-drive option that had been available on the base, Technology, and A-Spec trims. For now, every RDX comes fitted with Acura's Super Handling All-Wheel Drive (SH-AWD). The effect is also familiar: Compared to 2023 RDX pricing at launch, the minimum price for the entry-level base and the Technology trims is up $2,300, the A-Spec price climbs $2,000. MSRPs for the RDX lineup including the $1,195 destination charge, and their changes from 2023 launch pricing, are: RDX Base: $45,245 ($2,300) Technology: $47,895 ($2,300) A-Spec: $50,895 ($2,000) Advance: $53,045 ($500) A-Spec Advance: $55,045 ($500) Now for the small print. We specified launch pricing because the 2023 RDX has already gone up in price by all but $100 of the increases noted above. Meaning, if you wanted to configure a 2023 RDX on Acura's website instead of a 2024, you'd only save $100. Also, the automaker didn't put out a press release for the coming model year, but it did publish a fact sheet. The first footnote of the fact sheet explains, "Destination & Handling charge for sedans (excluding PMC Edition) and SUVs (excluding PMC Edition) is $1,400." At the time of writing this post, destination charges are still shown as $1,195 on the 2024 Acura RDX Build & Price page. Take this as warning that the brand's cars could get at least $205 more expensive soon. Every RDX is powered by a turbocharged 2.0-liter four-cylinder making 272 horsepower and 280 pound-feet of torque, shifting through a 10-speed automatic and sending power to both axles. We've had nothing bad to say about the RDX, praising its gutsy engine, responsive chassis, quality interior, sharp styling, spacious interior and plentiful standard features. And even with the price bumps, the RDX remains either much less expensive or notably more powerful than the luxury competitors Acura wants to challenge with the RDX. 

Acura models no longer produced or sold in China

SHANGHAI — Chinese carmaker Guangzhou Automobile Group said on Monday its joint venture with Honda Motor is no longer producing or selling products under the Japanese firm's premium Acura brand. GAC will continue to provide after-sales services to Acura customers in China through the joint venture's network, it said in a statement to Reuters. The joint venture will continue to produce other Honda brands. Acura is the second foreign car brand to exit China, the world's largest auto market, in recent months. In October GAC said it was closing its joint venture with Stellantis, which made Jeep vehicles, following a sharp decline in Jeep sales in China over the past four years. GAC-Honda, which started producing Acura cars in 2016 in China, only sold 6,554 of them in the country in 2021, down 45% from the previous year. Related video: 2022 Acura NSX Type S track footage