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Profit at Honda doubles on strong global sales of cars and motorcycles

TOKYO — Honda reported Wednesday that its April-June profit more than doubled on healthy sales of its motorcycles and cars, as the Japanese company also received a perk from favorable exchange rates. Honda Motor Co. said its fiscal first quarter profit totaled 363 billion yen ($2.5 billion), up from 149 billion yen. Quarterly sales jumped 21% to 4.6 trillion yen ($32 billion). HondaÂ’s financial service division also reported growing sales. Honda said its profitability improved, especially in North America, where production recovered. Automakers around the world were slammed by supply shortages because of production delays related to social restrictions caused by the COVID-19 pandemic. But such restrictions have eased, allowing production to pick up again. Auto sales were about the same in Japan in the latest quarter as in the previous year, while dropping significantly in China because of intense competition from makers of battery electric vehicles, Honda said. Honda is banking on growth in EVs in the U.S. market, where it recently announced it is joining six other companies in the creation of a high-powered charging network across North America. Worries about climate change have helped set off a dramatic shift in the auto industry toward battery electric vehicles, allowing for relative newcomers like Tesla and BYD to prosper, while catching some Japanese makers off guard with their hybrids and regular gasoline-powered models. Honda said a computer chip shortage crimped its motorcycle sales in India, while sales rebounded in Indonesia as production recovered. Honda said it sold 901,000 vehicles in the latest quarter, up from 815,000 a year earlier. It also sold more motorcycles worldwide at nearly 4.5 million, up from 4.2 million. Honda added 23 billion yen ($160 million) to its quarterly operating profit because of the impact of currency exchange rates. A weaker yen, trading lately at about 143 yen to the U.S. dollar, is a boon for Japanese exporters by boosting the amount of its overseas earnings when converted into yen. Honda stuck to its full year projection of an 800 billion yen ($5.6 billion) profit, up from 651 billion yen a year earlier. Honda shares slipped 0.9% on the Tokyo Stock Exchange. Related video: Earnings/Financials Acura Honda

Wagon Attack's crappy Civic Wagon meets its end in Iceland

Several years ago, we posted a video on a dumpy, all-wheel-drive, turbocharged Honda Civic Wagon that starred in a film called Wagon Attack II. The video showed the rusty, red five-door tackling terrain that no Civic has any business driving on, and doing it with flair and style.
Now, the team that produced the original video are back, with Wagon Attack III. The latest video is packed full of goodness for wagon lovers of any stripe. Where the last video saw the turbocharged wagon in Michigan, though, this time it's been shipped to Iceland, where it's flung about on the beaches and dirt roads of the volcanic island.
The video has a bit of a sad ending, though. You'll need to watch it and see what we mean. We've got the entire video down below. Take a look.

Junkyard Gem: 2001 Acura MDX

The point of the Junkyard Gems series is to share automotive history, and the period of the middle 1990s through early 2000s is a very interesting one for U.S.-market new vehicles. The SUV revolution went into high gear with the introduction of the 1991 Ford Explorer and 1993 Jeep Grand Cherokee, and sales of sedans, hatchbacks, and minivans began their steady decline. The Detroit companies were in good shape to cash in on the commuter-truck craze, with plenty of additional models ready for a quick slathering of luxury features. Toyota, Mitsubishi, Nissan, and Isuzu were ready as well … but Honda was completely unprepared for the Next Big Thing at that point. With American sales absolutely critical to Honda (which has never held much market share for four-wheeled vehicles in its home country), a deal was made to rebadge the Isuzu Trooper as the Acura SLX and the Isuzu Rodeo as the Honda Passport while an all-Honda big SUV could be developed. That SUV was the Acura MDX, which debuted for the 2001 model year. Here's one of those first-year MDXs, a huge turning point in Honda history, found in a Denver-area self-service boneyard recently. Oh, sure, Honda began selling the CR-V over here in 1997 and so wasn't completely out of the SUV game during the 1990s, but that little Civic-based machine was never going to lure away many Explorer or even Montero shoppers. The MDX was a proper three-row crossover SUV, despite being based on the same platform as the not-so-imposing Accord, and a Honda-badged version (the Pilot) followed two years later. Here's that third row, which looks quite cramped, but so what? MDX sales started out respectable and stayed that way. Every 2001-2013 MDX ever sold here came with a VTEC-equipped V6, automatic transmission, and all-wheel-drive (some later MDXs could be bought with front-wheel-drive). This engine is a 3.5-liter DOHC plant rated at 240 horsepower and 245 pound-feet, decent enough for a truck that tipped the scales at well beyond two tons. The MSRP on this truck was $34,370, which amounts to around $58,260 in inflation-adjusted 2022 dollars. The base '01 Ford Explorer started at just $25,210, but the swankified Eddie Bauer Edition was better-suited to the Acura-shopper demographic and listed at $32,025. You could buy a new Montero XLS and do some serious off-roading for $31,397 that year, but it had warlord-grade ride to go with its warlord-grade abilities in the bundoks.