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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.

How the Autoblog staff would configure the 2017 Acura NSX

The configurator for the 2017 Acura NSX is now online, and it finally lets people spec this long-delayed supercar. Technically prices start at $157,800 (after $1,800 for destination), but you can't actually get one like that yet. The iron brake rotors aren't available until late 2016, which means the carbon-ceramic rotors with black calipers are the least expensive choice at $9,900. The cost ticks up to $10,600 if you want calipers in silver or red. The build process inspired so much conversation among the Autoblog staff that we decided to share our choices with you and explain why we picked them. Let us know what you think in the comments. MICHAEL AUSTIN - $198,950: Mine's expensive, but I figure another 15 percent or so is irrelevant when the car already costs so much. I love the blue - it's alluring without being too flashy. Saddle leather is a must for me; it's definitely the best interior color. I skipped the carbon-fiber exterior sport package, just because I like the cleaner look of the standard body. Otherwise, carbon-fiber overkill: roof, rear spoiler, interior trim, and engine cover. If I had to cut costs I could sacrifice the $10,600 carbon ceramic brakes, which are probably unnecessary – but I'd have to wait until later this year. My only question is: where are the optional Michelin Pilot Super Sport tires I loved during our First Drive? CHRIS BRUCE - $180,700: I tried not to go too wild when speccing mine, but some upgrades seemed necessary. The standard black leather was too dark, so I opted for the Saddle and Alcantara, which added $1,500 to the price. I also picked with the matching black Alcantara headliner for $1,300 and the upgraded audio system for $2,800. For the outside, I loved the Nord Gray Paint, which has a little green in it, and I splurged for the $6,000 carbon fiber roof. To finish things off, I went with the silver calipers on the carbon-ceramic brakes for $10,600. STEVEN EWING - $172,700: I'm not the extravagant type. I don't want flashy colors, red calipers, or unnecessary carbon fiber crap on the outside. Give me something that flies under the radar, with the only the options I need. Plus, the NSX hardly feels like a $200,000 supercar to me. ALEX KIERSTEIN - $176,500: Japanese cars tend to look best in classic white, so I went with that for the exterior. I like a dark interior, but I also love Alcantara – so that goes on the headliner. The carbon-fiber roof is a bit of an extravagance, but this is all fantasy, right?

Hyundai Santa Cruz, Kona N and Elantra Hybrid | Autoblog Podcast #691

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor, James Riswick. They've been driving a lot of new cars, including the 2022 Hyundai Santa Cruz pickup, 2022 Hyundai Kona N, 2021 Hyundai Elantra Hybrid, 2021 Acura TLX Type S and 2022 Hyundai Genesis G70. Lamborghini revealed a modern interpretation of the Countach, for better or worse. Finally, they heelp a listener replace a 2013 Ford Edge in this week's "Spend My Money" segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #691 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2022 Hyundai Santa Cruz 2022 Hyundai Kona N 2021 Hyundai Elantra Hybrid 2021 Acura TLX Type S 2022 Hyundai Genesis G70 Lamborghini Countach LPI 800-4 revealed Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: