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Profit at Honda doubles on strong global sales of cars and motorcycles

TOKYO — Honda reported Wednesday that its April-June profit more than doubled on healthy sales of its motorcycles and cars, as the Japanese company also received a perk from favorable exchange rates. Honda Motor Co. said its fiscal first quarter profit totaled 363 billion yen ($2.5 billion), up from 149 billion yen. Quarterly sales jumped 21% to 4.6 trillion yen ($32 billion). HondaÂ’s financial service division also reported growing sales. Honda said its profitability improved, especially in North America, where production recovered. Automakers around the world were slammed by supply shortages because of production delays related to social restrictions caused by the COVID-19 pandemic. But such restrictions have eased, allowing production to pick up again. Auto sales were about the same in Japan in the latest quarter as in the previous year, while dropping significantly in China because of intense competition from makers of battery electric vehicles, Honda said. Honda is banking on growth in EVs in the U.S. market, where it recently announced it is joining six other companies in the creation of a high-powered charging network across North America. Worries about climate change have helped set off a dramatic shift in the auto industry toward battery electric vehicles, allowing for relative newcomers like Tesla and BYD to prosper, while catching some Japanese makers off guard with their hybrids and regular gasoline-powered models. Honda said a computer chip shortage crimped its motorcycle sales in India, while sales rebounded in Indonesia as production recovered. Honda said it sold 901,000 vehicles in the latest quarter, up from 815,000 a year earlier. It also sold more motorcycles worldwide at nearly 4.5 million, up from 4.2 million. Honda added 23 billion yen ($160 million) to its quarterly operating profit because of the impact of currency exchange rates. A weaker yen, trading lately at about 143 yen to the U.S. dollar, is a boon for Japanese exporters by boosting the amount of its overseas earnings when converted into yen. Honda stuck to its full year projection of an 800 billion yen ($5.6 billion) profit, up from 651 billion yen a year earlier. Honda shares slipped 0.9% on the Tokyo Stock Exchange. Related video: Earnings/Financials Acura Honda

North American Car, Truck and SUV of the Year finalists revealed

The finalists for the 2023 North American Car, Truck and Utility Vehicle of the Year Awards were announced Thursday at the L.A. Auto Show. — The Acura Integra, Genesis Electrified G80 and Nissan Z made the cut in the car category. — The Ford F-150 Lightning, Chevy Silverado ZR2 and Lordstown Endurance advanced in trucks. — And the Cadillac Lyriq, Genesis GV60 and Kia EV6 advanced among utilities.  The winners will be announced Jan. 11 in Detroit.  The finalists underscored the industryÂ’s shift to electric vehicles, as all three utilities and two of the three trucks are EVs. The finalists were culled from a list of 26 semifinalists made up of three trucks, 10 cars and 16 utility vehicles that are new this year.  Notables that missed the cut include the Mercedes EQE, Subaru WRX and Toyota GR Corolla in cars; while the Honda CR-V, Kia Sportage and Rivian R1S were among the utes that did not advance. The three trucks are the only ones eligible this year and have advanced through the voting.  50 jurors who work for media outlets across North America vote three times over the course of the year to whittle down the field, which was originally 47 vehicles. Jurors also test the semifinalists at an October group event in Ann Arbor, Mich. The Honda Civic (car), Ford Maverick (truck) and Ford Bronco (utility vehicle) were the 2022 winners. Autoblog Editor-in-Chief Greg Migliore is a NACTOY juror.   Featured Gallery Ford F-150 Lightning View 48 Photos Green LA Auto Show Acura Cadillac Chevrolet Ford Genesis Kia Nissan Truck SUV NACTOY Lordstown Endurance

Acura NSX electric revival? 'I would bet on it'

This year marks the end of the Acura NSX as we know it. Its swan song, the 600-horsepower 2022 Type S, saw only 300 made for the U.S. market, and all of them sold out in 24 hours. It's barely disappeared over the horizon, but Acura's V.P. and brand officer is already previewing the NSX's third act. Speaking with Nikkei Asia, Jon Ikeda was asked whether a third generation NSX was forthcoming. "I would bet on it," he said. Ikeda also predicted that if the wager lands in his favor, "it's going to be [all-]electric." This falls in line with statements Ikeda made a year ago. At the time, he explained that the NSX emerges when parent company Honda wants to make a statement: The first generation was Honda's vision for an F1-derived petrol-powered supercar; the second generation arrived as an affordable hybrid halo car in the age of gasoline-electrics. He didn't elaborate on the third generation's powertrain back then, but this time Ikeda was more adamant about electric power.  Part of Ikeda's certainty, the article states, comes from global CEO Toshihiro Mibe's commitment to electrify Honda's lineup. Soon after taking the top job in April 2021, Mibe announced plans to convert Honda's entire lineup to EVs and hydrogen fuel cell vehicles by 2040. As for what kind of car an electric NSX would be, Ikeda has some ideas. "It won't be just about straight lines," he told Nikkei Asia. Blistering acceleration is already common in the electric supercar world, so Acura would need to bring something novel to the table. Ikeda wants the NSX to be a technological showcase for ultimate handling as well, something the outgoing NSX did with its driver-focused Super Handling AWD system.  We've long bemoaned how the new breed of electrified supercars have incredible specs on paper, but somehow don't feel as engaging to drive. That's a niche Acura could fill. In the often contentious give and take between American Honda and Honda Motor's engineering departments, the Japan mothership tends to win out. However, these days Honda barely sells anything beyond kei cars in Japan. It's up to leaders like Ikeda and those who understand the U.S. market to drag the company toward the performance-minded engineering philosophies Old Man Soichiro founded his business on. Related video: