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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.

2021 Acura TLX First Drive | The mojo is returning

Buildup for the 2021 Acura TLX started more than a year ago when Acura released the stunning Type S Concept. It was long, low, wide and graced with gorgeous rear-drive proportions. Plus, it was slathered in some of the best blue paint we’ve ever seen. Acura could not have thought of a better way to say, “Hey, weÂ’re back!” ItÂ’s no surprise that the Type S Concept is a dead ringer for the production TLX. Acura designers told us the car was just about finished when the concept debuted. So yeah, the new TLX and TLX Type S were always going to look this good. The latter won't be arriving until next spring, but our first drive of this next-gen base TLX has us hopeful for the Type S and its 3.0-liter turbocharged V6. And maybe just a little nervous, too.  The bones are really good. Acura developed a new, unique platform for this TLX that was built with performance in mind from the get-go. It's not just an Accord in a fancy suit. With crossovers on the rise, Acura says its shrinking number of sedan buyers are more passionate about driving dynamics than crossover buyers, allowing them to focus on performance to an even greater degree. It makes sense. We heartily approve. The result of this performance focus is the most rigid body in any Acura not named NSX. YouÂ’ll find more advanced materials like aluminum and press-hardened steel in its makeup than any previous Acura sedan. It has a wider track (+1.2-inch front and +1.6-inch rear), a 2.2-inch wider body, a 3.7-inch longer wheelbase and a 0.5-inch shorter height. Lastly, the dash-to-axle dimension is 7.8 inches longer, giving it those sweet rear-drive proportions despite being a front-wheel-drive platform. 2021 Acura TLX Advance View 38 Photos If you're expecting more rear passenger and trunk space with the extended length, keep looking. Rear legroom is up 0.4 inch, and trunk space by 0.3 cubic-feet to 13.5 – paltry gains for how much larger the car got. The size growth benefitted style and body proportions more than it did functional considerations. Then, thereÂ’s the new suspension: double wishbones up front and a five-link rear. Acura previously used a MacPherson strut design in the front suspension and the move back to a double-wishbone design is great news for driving enthusiasts. Acura's well-regarded TL and TSX of the mid-2000s had double wishbones up front, as did many of Honda's greatest hits of yesteryear (Integra, Prelude, Civic Si, etc.).

2023 Acura Integra gets a CVT standard, according to leaked trim chart

The 2023 Acura Integra continues to disappoint — is what fans of the original are likely to say upon hearing that the standard transmission for the upcoming sport sedan is a CVT. Acura made a big deal out of the fact that the revived Integra would have a manual transmission prior to its reveal. However, if a newly leaked spec chart is to be believed, most trim levels will only get a continuously variable transmission. Previously some believed that Acura would offer their 10-speed automatic in the Integra, but specs posted to the Integra Talk forum, indicate that is not the case. They show three levels of trim: base, A-Spec, and A-Spec with Tech Package. All come with the CVT, except the A-Spec Tech, which can be optioned with a six-speed manual transmission. It's not unusual anymore for carmakers to offer manual on only the highest-spec trims. Mazda, for example, does the same by offering its manual a single grade, the Premium package for the Mazda 3 hatchback. Whereas the manual was once the cheapest and most fuel-efficient option, these days the thinking is that only true enthusiasts, ones who would be willing to pay more to option out their car to the gills, would care about whether they row their own or not. In addition, the leak appears to list the Integra's color palette for both interior and exterior. Curiously, the Type R-inspired yellow of the concept doesn't appear to be on the menu. Instead, we get red, blue, white, silver, gray, and black. The A-Spec does get one exclusive hue, Apex Blue Pearl, to set it apart. Interiors get a choice of black, orchid or red, but not all of them can be paired with all exterior paints. We don't think that the manual's appearance on only the top trim is a problem per se. We don't know what the Integra's Tech Package will include, but on cars like the TLX or RDX it includes features like a premium audio system, navigation, and driver assist safety alerts. These aren't necessarily items a true enthusiast driver who prefers a purer driving experience would want. Still, we're glad Acura's offering a stick in an environment downright hostile to sedans, compacts, and manuals. We do think, though, that the Integra A-Spec (without the Tech Package) might have been the sweet spot for the manual. But no one asked us.