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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.

Acura Pikes Peak lineup is out, and there's a race-prepped MDX Sport Hybrid

Acura is coming back to Pikes Peak for the 2019 edition of the hillclimb, and it's bringing four vehicles to attack the mountain. Not the fastest, but perhaps the most interesting of the bunch is a race-prepped 2019 MDX Sport Hybrid. Engineers took the 3.5-liter V6 from the non-hybrid version (Hybrid has a 3.0-liter V6) of the MDX and bored it out to 3.7-liters. It then works together with Acura's three-motor hybrid system for a combined 400 horsepower and 350 pound-feet of torque. Shifting is still done by Acura's 7-speed dual-clutch transmission. The extra power is thanks to the larger displacement and special tuning for the engine and electric motors. Further upgrades to the MDX include a race-tuned active-damper suspension system and a roll cage. Acura says it goes a long way to increase structural rigidity. Additionally, Acura removed most of the vehicle's interior, including every seat but the driver's seat. Piloting the MDX is Jordan Guitar of Acura R&D's chassis development team. A couple NSXs, one "Time Attack" car and one mostly stock, will also run up the mountain. The Time Attack NSX has more power from larger turbos, bringing the system output up to 625 horsepower. Weight-saving measures have dropped 200 pounds from the structure, and there's plenty more downforce thanks to a big wing front splitter. Not much has been done to the production-spec NSX, as it simply adds a roll cage and racing seat with a harness. The Acura RDX that ran up the mountain last year is returning for this 2019 run. It features a modified 2.0-liter turbo that makes a respectable 350 horsepower and 330 pound-feet of torque. That extra power comes courtesy of a larger turbocharger, short-path intercooler and an electric supercharger. Can we have all that for production, please? The last Acura in the field is the same RealTime Racing TLX GT that won its class last year. There's one more NSX that'll be going up and down Pikes Peak, but not in anger. Acura is providing an NSX to act as the official pace car of the event, and it's predictably painted in the easy to pick out Thermal Orange.

Acura sold all 300 of the NSX Type S, reportedly in 24 hours

If you were hoping to nab one of the last Acura NSX supercars, Acura has confirmed to Autoblog that it has already sold out the entire allocation of 300 NSX Type S models that were slated for America. However, you might still have a remote chance. "We have seen tremendous interest in the 2022 NSX Type S following its debut at Monterey Car Week. At this time, confirmed orders have far surpassed the 300-unit allocation for the U.S. market, and new orders received are being added to a waitlist," an Acura spokesperson told us. That might be an understatement, as Motor1 is reporting a Black-Friday-esque rush that cleared the shelves in 24 hours and a waiting list of more than 100. While Acura has never planned to assign the NSX to the role of moneymaker — there are RDX and MDX crossovers for that — sales of the hybrid supercar have been shockingly low. Year-to-date sales figures for July 2021 (the last metric prior to Acura's August announcement that the NSX would be canceled) crawled along at just 67 examples sold, not too far off from last year's 70. The year-to-date number for August leaped up to 98, a significant jump from last year's 73. A personal anecdote may explain why the sellout occurred so quickly. My brother, owner of a 1993 NSX, went to a Los Angeles-area Acura dealer to inquire about the 2022 Type S. The salesperson told him that the dealer was only getting one and that it had already been spoken for — by the dealership's owner. With 273 Acura stores in the U.S. and only 300 cars, if other owners are similarly minded it may be almost impossible for the average buyer to get a Type S without paying a premium over the $171,495 price tag. Hopefully, though, buyers won't have to pay more than the $1 million bid that someone made for the first NSX Type S. The Type S has 600 horsepower and 492 pound-feet of torque, a 27 pony and 16 pound-feet bonus over the standard NSX, in addition to a 58-pound weight reduction and GT3 race car-derived tuning. While that alone could compel some buyers to spring for the Type S, we're willing to bet that it's the limited production and end-of-run factors that are contributing to demand. If you miss out, though, you can always wait for the third generation. Related video: