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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.

2019 Acura ILX gets $2,200 price cut to go with redesign, more features

Acura brought a relatively substantial update to the 2019 ILX, and now it has chopped prices to boot. It starts at $26,895 including destination charges, a $2,200 reduction from the 2018 model. The price came down, yet Acura added to the car's standard equipment; that's something we can get behind. Now the full suite of Acura's driver assistance features come standard, instead of as a $1,300 option. Exterior changes are the most obvious, with lots of new sheetmetal both front and back. You'll still be paying if you want the updated dual-screen infotainment system though. Equipped similarly to a 2018 model, it's $3,550 cheaper with the Premium and Technology packages. That same figure rings true for the A-Spec models too — an ILX with every package equipped tops out at $32,545 now, versus the $36,095 from before. We're all for the heavy price cuts, but the ILX remains the same relatively boring vehicle under the new bodywork. The A-Spec model is still only an appearance package, and doesn't really pay homage to the sporty Acura compacts of the past. A 1997 Acura Integra Type R just sold for $63,800 at Barrett-Jackson. Seeing that, plus the fanfare surrounding the Civic Type R arriving in America, shows that there's clearly tons of untapped hype surrounding small, hot Hondas. A true successor to the Integra Type R, or even just the GS-R, would have enthusiasts tripping over themselves. Keeping the price low for such a vehicle like we see for the 2019 ILX would be the cherry on top. Featured video: Featured Gallery 2019 Acura ILX View 11 Photos Acura Luxury Sedan

2019 Acura NSX gets a refresh and an eye-catching new color

After two model years and about 1,000 deliveries to the U.S., Acura's given the 2019 model a few enhancements and a small price bump. The car debuted at The Quail, A Motorsport Gathering, during the festivities surrounding Pebble Beach. While there are no major powertrain changes, some new color options and a few chassis refinements will be appreciated by NSX fans. Let's start with the hardware, since this is a sports car, after all. Most important, there's new all-season rubber, still Continental SportContacts but the next version thereof — the 6. Acura claims better handling in all conditions, and the way tire technology has been improving, we'd believe it. The optional Pirelli Trofeo Rs remain — and remain highly recommended for anyone looking to sample the NSX on track, which is an exhilarating experience. Acura says the rest of the enhancements we'll mention shaved a full two seconds off the car's time at Suzuka, so take that for what it's worth. They consist of a 26 percent stiffer front sway bar and 19 percent stiffer rear bar; 21 percent stiffer rear toe link bushings; a 6 percent stiffer rear hub; and a new software calibration for the computer controlled bits: the SH-AWD system, magnetorheological dampers, electric power steering, and stability control systems. For a car as precisely engineered as the NSX, these are relatively significant improvements. Don't necessarily expect it to shave two seconds off your personal best lap time, but if you're highly attuned to the chassis dynamics, the '19 NSX should offer more precise and direct feedback to the driver. No need to be precisely attuned to the cosmetic changes — they're pretty obvious. Thermal Orange, a new exterior color, and the chrome beak-ectomy (it's not body colored) crown the exterior changes. Inside, the leather/Alcantara combo seats are now available in blue, and the full leather seats can be had in red. While the price for the 2019 model has gone up by $1,500, Acura says that there's now $4,700 in formerly optional equipment (power seats, satnav, premium audio, parking sensors, and sport pedals) included as standard equipment. That sounds like a good deal to us. If you want one, the order books are open and cars will be delivered starting in October. Related Video: