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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.

19% of Acura Integras have been sold with a manual transmission

While you'll need to wait another week to read our review of the upcoming 2024 Acura Integra Type S, there is a nice little nugget of information we can share in the meantime. Between May 2022 and April 2023, Acura reports that it sold 19,643 Integras. According to the figures Acura shared, so grain of salt, that is grossly more than other entry-level luxury sedans: the Audi A3 (8,866), Mercedes-Benz CLA (6,656) and BMW 2 Series Gran Coupe (3,913). Update: Acura confirmed to us since this was originally posted that the A3 numbers also includes S3 and RS 3. The thing that most piqued our interest, however, was Acura saying that 19% of those 19,643 Integras came with the six-speed manual transmission. Now, that's a colossal change from the earliest days of Integra orders when the manual take-rate was hovering around 70%. Clearly, late adopters weren't as eager to row their own. It's also important to note that the manual is exclusively tied to the loaded A-Spec with Technology package, so it's effectively a pricey option.  While 19% — roughly 3,732 units — may not seem like a lot, it's actually not bad these days, and not that far off the entire 2 Series Gran Coupe lineup. That number is also about to go up since the Type S is exclusively available with a six-speed manual.  A few other sales-related Integra tidbits: It has the youngest buyers in the segment, as defined by those cars listed above, with 36% being younger than 35. Also, about 70% of buyers were of the "conquest" variety, meaning they were former Spanish Conquistadors. Wait, what's that? Oh, that makes more sense: So 70% of Integra buyers previously owned a car that wasn't an Acura, although when asked, Acura mentioned that it was possible that the buyers in question owned an Acura at some point in the distant past (you know, like an Integra) and were making a return to the brand.

Acura MDX Prototype reveals slick new looks, with Type S close behind

The next-generation Acura MDX is here, almost. This three-row crossover you’re looking at is technically being called the MDX Prototype by Acura, but itÂ’s about as close to production as any prototype can get. And what a looker it is. Acura has followed up the slick TLX sedan with another attractive design. With the MDX now the best-selling Acura nameplate of all time, this one was even more important for Acura to get right. Just like the TLX, it benefits from a much longer dash-to-axle dimension, measuring in six inches longer than the outgoing MDX. The pentagon grille, and Chicane-shaped DRLs in the headlights now grace a much wider car. Acura gave this MDX a wider track and a three-inch longer wheelbase, both aiding in making it appear far more graceful and sporty. Acura clearly isnÂ’t holding much of anything back with this MDX Prototype versus the final production car, and weÂ’re liking what we can see so far. Many of the design elements we liked so much on the TLX are transferred over to this crossover body style, and Acura has done so with class. The MDXs you see here are riding on new 21-inch wheels that are bolted up to a new light truck platform and chassis specifically tailored for the MDX. Acura says it provides for more athletic handling, greater ride comfort and a quieter cabin versus the outgoing MDX. ItÂ’s even more rigid than the RDXÂ’s body. Just like the new TLX, Acura has gone with a double wishbone front suspension design to make the MDX an even sportier driver. ThereÂ’s more excitement in the powertrain options for the new MDX, too. Acura promises a Type S version of the MDX is coming with the same 3.0-liter turbocharged V6 youÂ’ll find under the hood of the TLX Type S. It will make 355 horsepower and 354 pound-feet of torque (same as the TLX) in this application. The standard engine will continue to be AcuraÂ’s 3.5-liter V6 that makes 290 horsepower and 267 pound-feet of torque. Both engines will be mated to AcuraÂ’s 10-speed automatic transmission and send power to all four wheels using the latest fourth-generation SH-AWD system. Not all of the performance details are available yet, but Acura says the MDX can be had with four-piston Brembo brake calipers and comes with a drive mode selector that allows you to adjust ride, handling, steering, suspension and powertrain characteristics. More Type S-specific details will need to wait. The interior matches the exterior for flair and elegance.