2006 Honda Civic Lx 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.

Remembering the glory days of the Honda Civic Si

In addition to watching host John Davis slowly age over his decades on the show, MotorWeek's Retro Review series on YouTube allows us to look back on some of the favorite models of yesteryear to see their evolution toward present day. Take the 1989 Honda Civic Si for example, which is newly featured. The name is still on the market, and the current model boasts 205 horsepower and 174 pound-feet of torque from its 2.4-liter four-cylinder. However, the current Si is being left behind in power by other performance compacts like the latest Volkswagen GTI, Subaru WRX and Ford Focus ST. Back in 1989, the Civic Si was still something of an upstart in the hot hatch ranks and definitely had something to prove. Remember, this was a about decade before the tuner boom of the late '90s gave these Hondas massive popularity. Though, the writing was on the wall for eventual success, based on the MotorWeek review. The show called it "stylish" and was attracted to vehicle's sharp handing, even with no power steering. Like today, power was lacking compared to major competitors like he VW GTI, but Honda's 1.6-liter four-cylinder with 108 hp and 100 lb-ft still received some praise. As always, it's fascinating to see how these now beloved models stack up when looking back. The high-performance Civic might be due for another surge in popularity too, if the forthcoming Type R from Europe ever makes to the US. News Source: MotorWeek via YouTube Honda Hatchback Performance Classics Videos honda civic si

Here are the best-selling cars and trucks from January 2015

Every month, Autoblog slogs through all the sales figures reported by automakers that do business in the United States, and, after a little bit of sorting, we put it into an easy-to-read chart in an attempt to make it as easy as possible to follow the ins and outs of sales and shipments. But that only covers the brands themselves, not the individual models they sell. And we think you'd all be interested in knowing which vehicles beat their rivals in sales from month to month, so we've put together this handy gallery to keep you in the know. While the leader of the pack may not come as much of a surprise, the order that the top ten finishes in changes frequently – due to automaker deals, the price of gas, etc. – and we've included some statistics to help you see how their current performance stacks up to month's past. Click here to see January 2015's Top Ten Best-Selling Cars And Trucks In America. By the Numbers Chevrolet Ford GM Honda Nissan RAM Toyota Car Buying