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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.

2024 Acura TLX Preview: Subtle style tweaks, fewer trim options

The 2024 Acura TLX sees a number of updates to keep it competitive and address a few customer requests. It also looks a bit different, but you do need to take a closer side-by-side look. The big visual change is the front end. It now looks more like the TLX Concept car – specifically the lower air dam area and crucially, thereÂ’s now a frameless grille. Acura needed to redesign the entire trim piece above the grille and across the fascia to accommodate it. The change is most obvious on the base TLX, which used to have chrome lipstick around the “Diamond Pentagon” grille. ItÂ’s gone now. So are a whole heap of 2024 Acura TLX trim levels. There had been eight and now there are three: TLX with Technology Package, A-Spec and Type S. Front-wheel drive is now exclusively paired with the now-base TLX with Technology Package (thatÂ’s seriously what itÂ’s called) and vice versa, while the other two are only paired with Super Handling All-Wheel Drive (SH-AWD). There was previously a Technology-less Base TLX, a front-wheel-drive A-Spec, a TLX with Advance Package, a Type S w/ Performance Tire and the special-edition Type S PMC Edition. The surviving three were apparently what people were overwhelmingly getting. 2024 Acura TLX action front three quarter View 11 Photos That said, parts of those zombie trims survive. The Advance package may be gone for the base TLX (customers were more interested in the sporty versions than the more luxurious take of Advance cars), but its head-up display and surround-view parking camera are added as standard to the Acura TLX Type S. It already had the AdvanceÂ’s other extras. The PMCÂ’s special lightweight wheels, fashioned in a Copper color are now dealer-installed options for the Type S along with the performance tires. Speaking of wheels, Acura answered another customer request by enlarging the A-Spec wheels to 19 inches and through in a coat of Shark Gray paint. The Type S wheels are now Berlina Black to match the new gloss-black finish in its grille. More gloss black shows up on the A-Spec as well on its new, reshaped rear spoiler. Below it is a similarly gloss black diffuser encasing new round tailpipes in place of the old square covers. Perhaps the most significant visual upgrade, however, is back up front where a new, smaller radar sensor for the adaptive cruise control and forward collision prevention system is now completely encased behind the Acura logo.

2014 Acura MDX Prototype is exactly what we expected

Yep, it's the new MDX. And despite being totally redone, it looks exactly like we expected. That is, it's an up-sized version of the RDX crossover with fancy LED lights stolen from the RLX sedan. And while that might not sound too exciting, we have to say, it is handsome - certainly a more cohesive, refined design than the angular, beak-tastic model that's currently on sale.
Acura is calling this 2014 MDX a prototype, but that's only because it isn't 100-percent finished. Everything you see here will likely carry over to production, maybe with a couple small tweaks. Under the hood is the same 3.5-liter V6 that we know and love from the Honda group, and while we don't have power figures just yet, Acura says it will deliver more torque while improving efficiency. In redesigning the MDX, the Japanese automaker has managed to lighten and stiffen the chassis, improving driving dynamics. More interestingly, for the first time Acura will offer a front-wheel-drive version of the MDX, but don't worry, the automaker's SH-AWD all-wheel drive will be available.
Inside, the usual smattering of tech goodies will be on hand, including the next-generation AcuraLink system, satellite radio, tons of comfort amenities and every single alphabetic safety device known to man (okay, maybe not all of them).