2012 Acura Tsx 2.4 on 2040-cars

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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 Integra, Cadillac CT4-V Blackwing, Porsche Taycan | Autoblog Podcast #721

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Yahoo Finance Senior Reporter Pras Subramanian. They kick things off by talking about driving the Cadillac CT4-V Blackwing and Porsche Taycan. In this week's news, they discuss the production reveal of the 2023 Acura Integra, Tesla's latest price hike, and Ford leaving the rear climate controls out of Explorers due to the chip shortage. Finally, they talk about the current state of affairs at Stellantis as the company plays catch-up with electric vehicles. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #721 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2022 Cadillac CT4-V Blackwing 2022 Porsche Taycan 2023 Acura Integra production specs and photos revealed Tesla increases prices yet again Ford to sell Explorer SUVs missing rear climate controls due to chip crunch Analyzing the state of Stellantis Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video:

There will be a third-generation NSX, says Acura V.P.

The second-generation Acura NSX might be going out in a blaze of glory, but it won't be the last we see of the supercar. This promise comes directly from Acura Vice President and Brand Officer Jon Ikeda. Furthermore, Ikeda implied that the next version might be electric. Ikeda divulged thoughts about a third-gen NSX while being interviewed by The Drive and Motor Trend. To the former, he explained Acura's mission with the the mid-engined supercar. "We make an NSX when there's something we want to say. The first-gen was gas. Second-gen was a hybrid. There's gonna be another one." Unless Ikeda is talking about hydrogen or some kind of heretofore undisclosed technology like  Mr. Fusion, this pretty much means electric. That means the NSX is likely to take another hiatus after the Type S closes out the 2022 model year. Between the first and second generations, the halo sports car had an 11-year absence on the market. Ikeda laid out the reasons for the nameplate's 2016 return when he spoke to Motor Trend. "Honda is one of the biggest gasoline engine makers in the world and needed to see what will happen in a world turning away from engines," he explained. It was always meant to be a halo car. "We didn't go into it to make a lot of money," he stated. The second generation had a much shorter lifespan than the game-changing first gen. That one spanned one and a half decades, from 1990 to 2005. The current generation, once it exits stage left in 2022, will have only had a six-year run. One could argue that the first gen overstayed its welcome, though. After thoroughly turning the supercar world on its ear, by forcing Ferrari et al to reconsider their engineering, the NSX's competitors quickly caught up to Honda's lead. While the NSX did undergo a couple of major changes during its first lifespan, by the time it left the market it was more of a dwindle. Acura is determined not to let that happen with the current NSX. In this case, they're sending it off with the most powerful iteration yet, a 600-horsepower Type S with reworked turbos, cooling system and aerodynamics and limiting production to 350 worldwide. Ikeda told Motor Trend, "We didn't want to let the NSX die on the vine either. To go quietly into the night is not what it deserves."