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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.

2025 Acura MDX prices rise thanks to new tech and audio

Acura revealed the 2025 MDX in April. Now, in advance of the updated flagship crossover arriving at dealers, the brand's released pricing. We'll start with the numbers, prices rising anywhere from $850 to $1,550, with $100 of that being a higher $1,350 destination charge. MSRPs for the latest MDX after destination, and their differences from 2024, are: Base FWD: $52,250 ($850)  Base SH-AWD: $54,450 ($850)  Technology Package FWD: $57,650 ($1,550) Technology Package SH-AWD: $59,850 ($1,550) A-Spec SH-AWD: $62,850 ($1,050) Advance Package SH-AWD: $67,350 ($2,000) A-Spec Advance SH-AWD: $69,350 (New trim) Type S Advance SH-AWD: $76,300 ($1,250) What's the extra money get? Most importantly, a new infotainment system coded on Google built-in that jettisons the unwieldy and unloved Acura True Touchpad interface for a 12.3-inch touchscreen. Having Google built-in means an enhanced version of Google Maps is on board, along with various apps from the Google Play store (including Android Auto and Apple CarPlay). The center console space formerly reserved for the touchpad and wrist rest houses a wide, shallow bin and an easier-to-access wireless phone charger. Elsewhere in the cabin, there is a new Bang & Olufsen sound system with either 19 or 31 speakers in all but the base trims, better hardware for the AcuraWatch driver assistance suite, and additional sound deadening plus rear laminated glass on most trims. Exterior visual differences are also subtle, with revised lower fascias for both standard and Type S models, new grille inserts for both, and a revised grille surround that removes the chrome lipstick look of the standard MDX. The taillights are now darker, and there are new wheel designs throughout. There might be a few more Easter eggs for MDX lifers, too. A member at the MDXers forum pointed out that the 2025 Advance trim features a body-colored skirting just like the late third-gen MDX instead of the black skirting applied on the fourth-gen through 2024.    As for those trims, the A-Spec with the Advance Package is new, finally letting buyers combine the A-Spec's sportier appearance with the Advance's luxury and tech features such as 16-way power front seats, a head-up display, and surround-view camera. Acura also puts quilted leather seats in the new trim, the stitched hides once exclusive to the Type S.

2014 Acura RLX

Earlier in the year, I reviewed a powder-blue Volkswagen Beetle Convertible, and I witnessed a group of high-school-aged girls ogling the car as it sat in my driveway. In my head, I found it to be a funny-yet-fitting scene that I didn't think of again until a 2014 Acura RLX showed up in my driveway. This time around, an elderly neighborhood couple stopped to give the big Acura sedan a closer look. The RLX is trying to shed past stereotypes of its predecessor, the Acura RL, just like the Beetle. Hoping to avoid becoming the de facto "grandpa car," Acura has completely reworked - and renamed - its flagship sedan.
As the bookend to the new entry-level ILX, the addition of the 2014 RLX might give Acura its strongest sedan lineup ever as the automaker looks to break the cycle of being a middle-of-the-road luxury brand. Stepping up to the big-boy table isn't going to be easy, though, as the competition keeps getting tougher. Forget cars like the Mercedes E-Class and BMW 5 Series, the Acura RLX is going to have its hands full with the likes of the Cadillac XTS, Lexus GS and Hyundai Genesis, not to mention a strong consortium of lower-priced, mid-luxury sedans like the Hyundai Azera, Toyota Avalon and Chevy Impala. The one thing all of these cars have in common is a reputation for being an old man cruiser.
I spent a week with the new RLX to see if it could shake the stigma of its outdated predecessor or if it would just leave me searching for the nearest early bird specials.