2014 Honda Cr-v Ex-l on 2040-cars

Auto blog

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 discontinuing Euro Accord, no replacement in sight

Honda has built two Accords for many years. There's the one we're familiar with here in the United States, and then there's the Accord sold in markets like Europe and Australia, known here in the US as the Acura TSX. But just like Acura did with the TSX, the Euro-market Accord has been discontinued.
The news comes from The Motor Report in Australia, which is reporting that the Accord Euro will be discontinued in 2015. Sold Down Under alongside the US-market model, the discontinuation of the Aussie car indicates an end to Honda's midsize sedan efforts in Europe, where there is no obvious replacement for the four-door and wagon models.
According to TMR, Honda Australia Director Stephen Collins indicated that focus will be placed instead on the US market "wide-body" model, as it's known. That said, this decision doesn't sound like it's sitting too well in Oz.

SAE World Congress: Testing out the Honda UNI-CUB, Walking Assist Device

Based on the downstairs display at the 2015 SAE World Congress in Detroit this week, you would think that Honda is barely an automaker. Instead, it was a company that focuses on robots, bizarre unicycles, motorcycles, and jets. We were not adverse to the car-related tech on display upstairs, but we wanted a closer look at the UNI-CUB and the Walking Assist Device. The UNI-CUB is one of the strangest vehicles we've ever experienced. It feels telepathic, because when you're sitting on it and think you want to go forward, your body naturally leans and then the UNI-CUB starts to move. The UNI part of the name stands for unicycle, but that's kind of a misnomer, since this thing has more than one wheel. First off, there's a tiny wheel for balance at the rear, but the main wheel itself is made up of multiple smaller wheels, which Honda calls the Omni Traction Drive System. This is what lets the UNI-CUB move side to side instead of just frontwards and backwards. The Walking Assist Device is a small setup with motors, leg straps, and a battery pack. The idea is to have the machine help lift up your legs as you walk, with the target audience being people who have had an injury, like a stroke. The WAD sits outside your clothes and can help someone walk for about an hour from a 22.2V-1Ah lithium-ion battery. You can see more in the video above.