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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.

Honda expands Takata airbag recall to 5.4M units in the US

While Honda already announced plans to take its front driver's side Takata airbag inflator recall nationwide, the automaker has now officially reported on the number of affected vehicles and the specific models in need of repair. The expanded campaign covers an estimated 5.4 million units across the US, including those already being fixed under the previous regional actions. That number is an expansion of the five million units initially reported by NHTSA. The affected models under the nationwide recall are the 2001-2007 Accord with a four-cylinder engine, 2001-2002 Accord V6, 2001-2005 Civic, 2002-2006 CR-V, 2003-2011 Element, 2002-2004 Odyssey, 2003-2007 Pilot, 2006 Ridegline, 2003-2006 Acura MDX, 2002-2003 TL and 2002 CL. For customers who expressed concern about their vehicle's safety, Honda had already been replacing the inflators nationwide. It's possible for the inflators in these vehicles to rupture when inflating the airbag, spraying metal fragments at occupants. This problem has been blamed for at least five deaths worldwide and at least 139 reported injuries. In its statement, Honda said that it worked with Takata to test the recalled inflators in the original high-humidity recall regions, and there were no abnormal deployments in these evaluations. Honda will begin notifying owners by "over time," according to its statement. Priority will be put on the geographic areas with the highest risk of ruptures. Those in the original recall region were contacted in September. Earlier in December, Honda partnered with Autoliv to supply the automaker with replacement inflators for this campaign. Autoliv predicted it would take six months for deliveries to start. Takata also increased its production of substitute components. Scroll down to read the company's announcement of this nationwide expansion. Statement by American Honda Regarding National Safety Improvement Campaign: Driver's Front Airbag Inflator Supplied by Takata Dec 8, 2014 - TORRANCE, Calif. Honda will voluntarily expand a regional Safety Improvement Campaign initiated in June 2014 (NHTSA No. 14V-351) into a national Safety Improvement Campaign affecting certain 2001 through 2011 Honda and Acura vehicles in the United States to replace the driver frontal airbag inflator, free of charge. Honda is expanding this Safety Improvement Campaign to address concerns raised by its customers whose vehicles were not included in the regional campaign.

2021 Acura TLX outed in European patent images

Acura brought its Type S concept to last year's Monterey Car Week as a glimmer of what we could expect from the all-new TLX coming next year. Since then, we've had better glimpses of the sedan in unintended leaks, the first in Acura's own infotainment system, now in patent images from the European Union Intellectual Property Office. Discovered by French forum Worldscoop, the details in the grayscale drawings match the color image from the infotainment software, giving us another look at hotly anticipated sedan that will infuse much-needed excitement into Acura's lineup. Even though the images show rear bumper cutouts plenty large enough to house quad pipes, the patent is presumed to show the standard TLX trim, not the Type S trim we know is coming. Even so, we can see plenty of Type S concept influence even with the less aggressive bodywork, such as the narrower upper grille and more pronounced lower grille, the garnish on the lower intakes, the side mirror design, and flared rear fenders. The rear end in the patent shows the same taillamps and decklid shutline, aero vents in the bumper, and the reshaped license plate holder moved from the trunk to the bumper.  The bodywork will sit on a new platform, and the bulk of betting money has Honda's 2.0-liter four-cylinder turbo four-cylinder from the RDX as the base engine. That mill making 272 horsepower and 280 pound-feet of torque in the RDX, compared to the 2.4-liter four-cylinder in the current TLX that makes 206 hp and 182 lb-ft. The Type S is expected to inaugurate a brand new 3.5-liter twin-turbo V6 developed specifically for Acura with more than 350 hp, a meaty bump beyond the 290 hp and 267 lb-ft in the present range-topping 3.5-liter V6. The TLX comes in two standard flavors now, so the question is whether Acura will give the 2021 model another engine or output option between standard and the Type S. The MDX Sport Hybrid crossover fits a 3.0-liter V6 powertrain producing a combined 321 hp and 289 lb-ft. On the 2021 TLX, a 10-speed automatic will manage shifting duties, sending power either to the front wheels or to all four through Acura's Super Handling All-Wheel Drive.  The automaker had planned on debuting the car at the New York Auto Show, and the rescheduled debut will come online and is likely not far away. If Acura doesn't show the Type S at the same time, an unveiling of that should come by early next year. Related Video: