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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.

2017 Acura NSX | 573 horsepower for lunch

Our Editor-in-Chief Greg Migliore is in California for Monterey Car Week and the Pebble Beach Concours d'Elegance, rubbing elbows with beautiful people and their far-more-beautiful cars. Greg took a 2017 Acura NSX down the Monterey Peninsula to grab lunch yesterday and posted live video on Facebook. We thought we'd share it here. We've driven the modern NSX before, of course, and it's terrific. For greater detail, check out our review from 2015. The video is in two parts, as Greg lost service at one point. Ah, technology. We'll be ordering lunch ourselves soon. Wish we could order California sunshine and an NSX to go. Related Gallery 2016 Acura NSX: Detroit 2015 View 21 Photos Related Gallery 2017 Acura NSX at Pikes Peak View 47 Photos Related Gallery 2017 Acura NSX First Drive View 33 Photos Image Credit: Michael Austin Auto News Acura Technology Emerging Technologies Coupe Luxury Performance Videos Pebble Beach California

Acura Integra will return in 2022 after a long hiatus

Putting a modern spin on much-loved classics is a growing trend in the automotive industry. Ford resurrected the Bronco, Lamborghini is bringing back the Countach, and Acura unexpectedly announced a new Integra for 2022. Acura has done a perfect job of keeping the next-generation Integra under wraps. There have been no leaks or rumors, and our spies haven't even spotted pre-production prototypes out and about. We consequently know very little about the car; the firm simply promised it will offer "the same fun-to-drive spirit and DNA of the original." Spring 2022. pic.twitter.com/4JsuLDj8b9 — Acura (@Acura) August 13, 2021 The crunchiest crumb of information that we have is a sketch that shows part of the front end. It's enough to tell with a high degree of certainty that the Integra won't wear a retro-inspired design; sorry, fans of pop-up headlights. Instead, it looks like it falls in line with recent additions to the Acura range thanks to sharp lights with LED accents and an angular grille. There's also a new interpretation of the Integra logo below the driver-side headlight. Beyond that, the Honda-owned carmaker simply confirmed the Integra will land as a compact premium car, which is exactly what the nameplate has denoted since its introduction for the 1986 model year. While this is pure speculation, it wouldn't be completely unthinkable for Acura to build the next Integra on an evolution of the platform that underpins the 11th-generation Civic unveiled earlier in 2021. Many of the earlier Integra models were based on or related to the Civic, and there was even a Civic sold as an Integra in a handful of overseas markets. More details about the 2022 Acura Integra will emerge in the coming months. Storied past Acura arrived on the automotive scene in 1986 with a range made up of two cars: the Integra (which was offered with two or four doors) and the bigger Legend. While both were aimed at the premium end of the market, the original Integra (shown above) put a far greater focus on performance than on luxury, and it never strayed far from this positioning. It was peppy, nimble, fun to drive, and reasonably affordable; pricing started at $9,859 in 1986 (roughly $24,600 in 2021). As time went on, many buyers realized that the little Acura was also stunningly durable. The second-generation Integra arrived for 1990 with an updated design and more powerful engines, and the four-door model received a more conventional three-box design.