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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.

2023 Acura Integra First Drive Review: Just what we wanted

AUSTIN, Texas — Getting caught up in the hype machine of retired car names pulling a Tom Brady is easy to do these days — there are so many examples to point at, and they just keep coming. The 2023 Acura Integra adds to this growing list. Expectations are high; unreasonably high if you listen to internet commenters. An entire generation grew up, got their driverÂ’s licenses and graduated high school in what weÂ’ll call the Integra Drought that began when the last Acura Integra rolled off the line for the 2001 model year. And while Acura likes to think of the 2002-2006 RSX as the “fourth generation” since it was called Integra overseas, itÂ’s meaningful that it was not called that here in the United States. You can tell how meaningful it is by observing how big of a deal Acura is treating the revival of the “Integra” name today — at this point, youÂ’ve surely seen one of its numerous advertisements. In short, it symbolizes AcuraÂ’s serious return to a small, sporty and enthusiast-focused compact car. The outgoing ILX never captured the zeitgeist of sport compacts in the 2010s, and it faded into the background of a much larger and better small luxury car scene. It wasnÂ’t an Integra, and Acura never pretended that it was.  To sort out what the new 2023 Integra is and isnÂ’t, Autoblog sent me (a longtime and current 2001 Acura Integra GS-R owner) to Austin, Texas, where I was able to drive it in the city, on wide-open Texas highways and through winding switchbacks. Unlike some new Acura models that were largely developed in the U.S., the Integra was developed in Japan. The design was handled at the Wako Studio outside of Tokyo, engineering work was done in Tochigi. Meanwhile, production is exclusively taking place in Marysville, Ohio, on the same line as the TLX. Many of those involved in the development of the new Integra also worked on previous generations of the car, so you can trust that Acura/Honda developed the new one with its history being top-of-mind. Just like Integras of the past, everything starts with the Civic. It shares a 107.7-inch wheelbase with the Civic, as both cars ride on the companyÂ’s Global Small Car Architecture. However, donÂ’t think that the Integra is just a Civic Hatchback with an Acura badge on it. Every single body panel on the car is 100% exclusive to the Integra, and the carÂ’s overall length and width are larger than any Civic — itÂ’s 6.8 inches longer than the Civic Hatchback and 1.8 inches longer than the Sedan.

2022 Acura RDX First Drive | RDX redux gives us what we want

LOS ANGELES — AcuraÂ’s most recent totally new models — the TLX and MDX — thwacked us upside the head with authority to let us know that Acura as a luxury and performance brand is well and truly back in great form. The redesigned RDX tried to do the same back in 2019, and while it was an above-average overhaul effort, it didnÂ’t move us as strongly as the TLX and MDX have since. Now, the 2022 Acura RDX is here, and itÂ’s packing a bunch of improvements to try and both enhance the driving experience and ensure that it isnÂ’t playing second fiddle to other Acura products in tech or luxury. The one omission, and itÂ’s a big one, is the continued lack of a Type S variant. Both the TLX and MDX offer a high-performance Type S version with turbocharged V6 engines, and the RDX continues to go without such a model in 2022. ItÂ’s a shame, because the RDXÂ’s smaller size means it could serve as a quality platform for a performance crossover to compete against others like the BMW X3 M40i, Mercedes-AMG GLC 43 and Audi SQ5. ThatÂ’s not to say that Acura has neglected the driving experience for 2022. The one performance improvement comes in the form of re-tuned adaptive dampers on the Advance trim that are both stiffer in Sport mode and softer in Comfort mode. Plus, the cabin is much quieter than it was before thanks to additional sound deadening material and an enhanced Active Sound Control system. Acura says the standard car offers a 20% NVH improvement, while the Advance Package cars have even more sound deadening to deliver a 30% improvement over the 2021 model. YouÂ’ll be able to tell the updated RDX apart from the pre-refresh version by looking at the new grille pattern and thinner chrome grille surround. Look further downward, and youÂ’ll notice larger side intakes and a new fog light design. ItÂ’s harder to tell that anything is new from the back, but look closely, and youÂ’ll see a redone lower bumper and rectangular exhaust outlets on every model but the A-Spec — that hangs on to its round dual exhaust tips. A couple of new wheel designs round out the exterior updates, while the interior sees a new bronze-like finish for the aluminum trim in lower trims. Perhaps one of the most vital changes Acura made to the RDX this year is done on the equipment side, as it fixes one of the gripes weÂ’ve had with Acuras over the past couple years. You can finally equip the Advance Package onto A-Spec trim cars.