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The 2016 Honda Civic desperately needs the cool kids

"... I am contagious, I am breaking down ..." Oh, that's the song. The 2016 Honda Civic's launch party was just so achingly cool. Honda showed off its 10th-generation Civic Sedan Wednesday at YouTube Space LA, and livestreamed it for the world to see. I was standing across from a band whose song I knew but name I didn't (turns out it was Night Riots), and near people in knit caps and tattoos cheering them on. Honda is stoked on this epic new Civic, guys. This all sounds like another cynical marketing attempt to capture the attention of people my age. The ones studies suggest hate driving and have no interest in cars, according to old people and their old muscle cars. Last year, Audi released a whole guide on how to sell the A3 to Millennials. We do love our aggressively targeted campaigns. It's like the Civic became what your Aunt Hattie replaced her '93 Achieva with. In fairness, the 2016 Civic has a hell of a lot riding on its more chiseled shoulders. The Civic long had a following among new, young buyers looking for their first new car, who then just kept buying them because they loved them so much. That sort of fell apart with the ninth-generation Civic, a car so removed from its ancestry in terms of feel, looks, and overall spirit. It's like the Honda Civic became what your Aunt Hattie replaced her '93 Achieva with. It's shown in the sales figures. In 2014, the Accord became Honda's car with the most buyers under the age of 35. The HR-V and CR-V SUVs also represent more of what buyers want these days, with rugged looks and available all-wheel drive. It's no cakewalk for the Civic anymore. Clear past the clutter of the band and the fog of the reveal, and the 2016 Civic already looks like it has the things young new-car buyers look for when they go shopping. Show-car styling, the promise of good fuel economy, Android Auto and Apple CarPlay, and lots and lots of features. The first of the new Civics Honda showed touts technology, refinement, and content more than the fun-to-drive characteristics. Enthusiasts may not find much comfort in the fact you can only get Honda's new 1.5-liter turbo on models equipped with a CVT, now that the six-speed manual has really been relegated to the base LX. But then you were probably waiting for the forthcoming Si, or next year's hatchback model, or probably the new Type-R. The Civic sedan targets the mainstream, and this time, the mainstream is the under-35 crowd.

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 reports $1.9 billion profit in first quarter despite sales lag at home

Ford, General Motors and Chrysler have been living in a world of sunshine and buttercups after their April-through-June financials hit the newswire, and Toyota is doing pretty good as well. Honda? Not so much.
While Japan's third-largest manufacturer saw $1.9 billion in profits, the 5.1-percent jump was lower than expected thanks to a drop in its home-market sales. US sales also took a sting, as Honda hasn't been able to match the SUV and truck demand that are currently permeating the American market, despite an uptick in Accord sales.
Honda's initial forecasts targeted a take of 209.3 billion yen ($2.1 billion at today's rates), and while a $200 million shortfall is nothing to sniff at, we'd hardly take this as Honda being in trouble. And even with the dip, Honda hasn't adjusted its forecast for the fiscal year, which remains at 780 billion yen ($7.9 billion).