2001 Honda Civic Ex Sedan 4-door 1.7l 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.

Honda CEO: electric vehicles are a 'core technology'

The production version of Honda's hydrogen-powered FCEV concept remains on target for release in Japan by March 2016, and it's going to be followed by at least two more vehicles that have some form of electric powertrain. Probably more than two, but we can't be more specific than that. This is what we learned today from a speech by the new president and CEO of Honda Motor Company, Takahiro Hachigo. Speaking about the two main themes he sees for the future of the automaker (the six-region global operation structure and "continuous development of challenging products unique to Honda"), Hachigo once again confirmed an on-sale date for the production version of the FCEV concept that Honda has been trotting out at auto shows for a few years now as happening, "before the end of the current fiscal year" which ends March 31, 2016. He also said something broader about the company's vision for electric cars: "As the next-generation of mobility products, Honda will evolve products that use electricity as a core technology," he said. While we don't yet know what the electric vehicle products are, Hachigo's statements echo those of Mike Accavitti, senior vice president of American Honda, from when the FCEV concept was unveiled: "The Honda FCEV Concept not only sets our direction for our next generation fuel-cell vehicle in 2015, but for future improvements in electric drive technology." Honda previously promised new all-electric and plug-in hybrid vehicles by 2018, and today's comments signal that that plan is still in place. Things may change though, since Honda's original release date for the FCEV was 2015. Related Video: Summary of CEO Speech on July 6, 2015 TOKYO, Japan, July 6, 2015 - The new President & CEO of Honda Motor Co., Takahiro Hachigo, unveiled his future vision for the company. He highlighted two themes that the new "Team Honda" will pursue: I want to create a new Honda under two themes. < Two themes to be pursued for the new Honda > 1. Advancement of the six-region global operation structure 2. Continuous development of challenging products unique to Honda and delivering them to our customers around the world Let me talk about my vision for the future of Honda which will be established as we pursue these themes. The key word is "Team Honda." < Future of Honda – My thoughts based on personal experiences "at the spot"> Honda's strength is that team/project members share one goal and take on challenges and attain high targets.

Junkyard Gem: 1992 Acura Vigor

Honda was the first of the Japanese car manufacturers to bring a separate luxury brand to the United States, with the (Civic-derived) Integra and (Rover-related) Legend appearing as 1986 models. By the early 1990s, Infiniti and Lexus had muscled in with their own gadget-laden luxury machines, with even Mitsubishi and Mazda offering legitimate competition for the two Acura models. Something had to be done, in the viewpoint of Soichiro Honda, and so the NSX sports car was introduced as a 1991 model, followed by the Vigor luxury sedan the following year. Here's one of those rare first-year Vigors, found in a Denver self-service boneyard recently. The idea behind the Vigor (which, like the Integra, Legend and NSX, was badged as a Honda in its homeland) was that it would squeeze in between the Integra and the Legend and steal some sales from the Lexus ES 250 as well as European machinery. The Vigor was a front-wheel-drive car, but its engine was mounted longitudinally and angled to clear the hood. The differential sat directly beneath the engine and received power via a tortured maze of shafts. The reason for all this powertrain complexity was the fact that the Vigor's engine was a SOHC straight-five that wouldn't fit the engine compartment using Honda's usual transverse mounting (though both Daewoo and Volvo managed the feat with straight-six engines later on). The U.S.-market Vigor's 2.5-liter five-banger was rated at 176 horsepower and 170 pound-feet. The base transmission was a five-speed manual, but this car has the optional $750 four-speed automatic ($1,696 in 2024 dollars). This car is the cheaper Vigor LS model, so its MSRP was $24,999 ($56,539 after inflation). You could get a slightly smaller but still feature-laden '92 Honda Accord EX for just $20,175 ($45,629 now), though, and the cushier (though less nimble) Lexus ES 250 started at just $21,300 ($48,173 in today's money). American car shoppers just couldn't figure out the Vigor, and sales were weak. 1994 was the final year for the Vigor, and the TL replaced it beginning as a 1996 model. This one drove just over 160,000 miles during its life. Don't think of it as a drive to work. Think of it as a 30-minute vacation. If you get a German luxury sedan instead of a Vigor, you'll be sorry! I miss you… S. As was nearly always the case during the 1980s and 1990s, the JDM commercials were more fun.