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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.

Junkyard Gem: 1996 Acura 3.5 RL, Rocky Mountain Rambler 500 Edition

Honda had a good sales run with the Acura Legend, the first of the luxury-marque spinoffs from well-known Japanese carmakers to appear on our shores, but times change and the RL replaced the Legend as Acura's flagship starting in the 1996 model year. Here's one of those first-year RLs, found in a Denver boneyard covered in decorations from the Rocky Mountain Rambler 500 road rally. The Rocky Mountain Rambler 500 involves a lot of punitive off-road driving, so cars that have no business on the dirt seem to get coolness points. That makes Honda's most expensive vehicle of 24 years ago a fine choice of ride. I can't determine how well this car did, but the drivers looked optimistic during the inspections last month. Since the ignition key is still in the switch, I'm assuming it wasn't running so well after the rally and the team decided to bid farewell to their Acura in the lowest-hassle way possible: sell it to the nearest U-Pull-&-Pay. The team appears to have gone for a Pirates of the Caribbean theme with their big land yacht. The evil-looking wheel covers looked sharp. However, the Lord Humungus-grade roof spikes really make this car stand out, both on the rally and, now, in the junkyard. It seemed very clean, with the original owner's manual still in the glovebox. The MSRP on this car came to $41,000 in 1996, which amounts to about $69,000 in 2020 dollars. A new Lexus LS 400 cost $52,900 that year, though the $45,700 Lexus GS 300 was more likely to have battled for the money of potential 3.5 RL buyers. The 1996 Infiniti Q45 went for $53,520, while the J30 cost $39,920. The 1996 BMW 530i had a $42,750 price tag, but your Mitsubishi dealer had $25,525 Diamantes that year. Built on the idea that luxury doesn't have to be boring. Take that, Lexus!

2019 Acura RDX First Drive Review | Boringness banished

WHISTLER, B.C. — Things have come full circle for the Acura RDX. The compact crossover launched in 2007 with an all-new turbocharged four-cylinder engine and an all-wheel-drive system that was sophisticated enough for the brand to affix the Super Handling designation to it. It was a fun, sporty vehicle in a sea of boring competitors, and we liked it enough to write a eulogy of sorts when the second-generation RDX ditched the fun turbo engine in favor of a V6, and dumbed down its optional all-wheel system so much that they dropped the Super Handling name. Acura's mainstreaming of the RDX for its second generation turned out to be a smart play. Sales jumped 94 percent in 2012, the first year that the redesigned RDX went on sale, leapt another 50 percent the following year, and have stayed over the 50,000 mark for the past three years. It may sound surprising, then, that Acura is flipping the playbook back a few pages by swapping its V6 engine back to a turbo four and reinstalling Super Handling All-Wheel Drive. We think it's a smart move. The 2019 RDX is both sportier and more upscale than the model it replaces. It does more than just check boxes. It's interesting, boasts some cool technology, and offers a strong value proposition. The 2019 RDX's all-new 2.0-liter turbocharged four-cylinder engine delivers 272 horsepower and 280 pound-feet of torque. That's down a negligible seven ponies from the old 3.5-liter V6, but up 28 lb-ft, and it's tuned to provide the bulk of that torque in the heart of its powerband — peak torque plateaus between 1,600 and 4,500 rpm. An equally all-new 10-speed automatic transmission sends that power to either the front wheels, or, as was the case with the vehicles we tested, all four wheels. Jumping into a 2019 RDX for the first time, our main powertrain concern was that the 10-speed automatic would generate a ton of unnecessary, and distracting, shifts. This proved to be an unfounded fear. The gearbox does shift quite often under hard acceleration, but does so quickly and without any undue jerkiness. The sheer number of gearing options — the old six-speed auto had a 68 percent narrower spread of ratios — and the torque-rich engine combined to provide excellent straight-line acceleration in any real-world driving scenario we could conjure. The rest of the time we didn't really think about the transmission at all. We did, however, lament the push-button transmission interface.