2015 Honda Civic Ex Sedan Auto 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.

2017 Honda Civic Si fills the performance gap between Sport and Type R

Yes, North America will finally get the hyper hot Civic Type R. But that doesn't mean Honda has dismissed the Si from duty. On the contrary, the Civic Si is back, and the Prototype coupe that's debuting at the Los Angeles Auto Show looks better than ever. Honda's senior VP and general manager Jeff Conrad says, "This will be, hands down, the fastest, best-handling Si we've ever offered to our customers." To do this, Honda has equipped the Si with a turbocharged 1.5-liter four-cylinder. The company didn't reveal output, but considering Conrad's statement, it's probably be safe to say it will make somewhere between 205 horsepower (the output of the previous Si) and 306 horsepower (the output of the previous Type R). That engine will send power through a six-speed manual transmission and a limited-slip differential. Also part of the Si package will be active steering and dampers, plus a high-performance tire option. View 16 Photos Honda made sure to upgrade the Civic Si's looks to match the performance, but not to the extremes of the Type R. The body appears to have the same overall width of the standard coupe, and it gets the front bumper and black grille from the hatchback along with a revised rear bumper. The front bumper gets a splitter, and the tail gets a wing. One of the most distinctive styling elements is the center-exit exhaust, which features a single hexagonal tip. Of course, both ends of the car get red Si badges, and the whole thing rides on 19-inch wheels. Surprisingly absent, though, are Honda's traditional "i-VTEC" stickers along the sides, which have appeared on Civic Sis since at least the 1999 model. The interior also gets a sporty treatment, and that apparently involves a healthy application of the color red. The floor mats, contrast stitching, instrument panel, and infotainment system are all finished in the hue. The seats are Si-exclusive, and feature the Si logo stitched into the seatbacks. Drivers will shift with an aluminum ball-shaped knob, and dance on aluminum pedals. There's a "sport" button next to the shifter, which we can guess probably sharpens up the shocks and steering. Honda says this prototype interior "closely previews" the final production version. Though Honda only showed a coupe version of the Si, the company will offer a sedan version for people who need the added practicality. There's so far been no mention of a hatchback version. Honda only provided a rough release window of next year and hasn't give any pricing.

Alonso interview, part 2: He says F1-Indy crossovers boost racing

Fernando Alonso said his racing in this Sunday's Indy 500 spurred great interest in Spain and that other Formula One drivers crossing over would benefit both U.S. racing and Formula One. "I think Formula One needs North America and maybe North America needs more of Formula One than what we currently have," Alonso told Reuters on Tuesday. "I think its a win-win situation," the Spaniard said about the potential impact of more F1 drivers following his example and crossing over between the circuits. Alonso said he understood that interest back home in the Indy 500 had spiked by 800 percent. "For the fans, from what I see now in Spain and Europe, it is amazing the interest in the Indy 500 this year compared to any other year," he said. "Everyone in Spain, they are waiting for May 28 to watch the race. I received many messages from fans in social media saying, 'thanks for showing us this race because I never watched it before and I absolutely love it.'" Alonso also believes U.S. fans will become more intrigued by Formula One as they get to know those drivers. "Hopefully from now on the interest in Formula One in the US will be growing," he said. "We have new owners of Formula One, (U.S.-based) Liberty Media, and I think they have some good plans to build interest here." Alonso decided to skip this week's Monaco Grand Prix, which he has won twice, to try and add the Indy 500 as his second leg to a rare Triple Crown of Motorsport. The Spaniard hopes to emulate Graham Hill, who in 1972 became the first to complete the Formula One championship, Indy and Le Mans 24 Hours collection of titles. "The Triple Crown, I think that's the ultimate goal of any racing driver," said Alonso. "Only one man has achieved that in motor sports and that shows how difficult it is to do that." Alonso said he expects no problem adjusting back to Formula One after his Indy sojourn. "My skills, and my driving techniques are developed in Formula One cars. I think when I get back there it will be an immediate adaptation." With his contract up after this season with the poorly performing McLaren-Honda team, Alonso remained tight-lipped about his future. "After the summer I will consider what are the options out there," he said.Part 1 of this interview: F1 veteran gears up for his rookie run at Indy Reporting by Larry FineRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Drive A McLaren | The List #650