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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.

Clarion Builds 1991 Acura NSX Review | Restored to greatness

Few automobiles garner as much mystique as the original Acura NSX. I worshiped this car from afar, consigned to the fact that the closest I was ever going to get to the steering wheel was a Playstation controller. When I got the email inviting me to drive Clarion Builds' restored and tuned 1991 NSX, I thought it was spam, a chain email with some generic header sent to a dozen or so people to garner some press coverage. Surely this wasn't a real invite where I get to drive a real NSX using my real hands and feet. Some people say don't meet your heroes. Some people are wrong. I knew the car by reputation. In roughly 10 months, Clarion Builds, a division of the Japanese electronics company mostly known for high-end audio systems, worked with partners like AEM and AutoWave to transform a '91 NSX with nearly a quarter-million miles on the clock into what you see here. Everything, from the engine to the bodywork to the leather on the seats, has been upgraded and restored with a mix of both OEM and aftermarket parts. The final product is a stunner. It's tuned, but not slammed, stanced or any other adjective that describes a car with compromised performance and questionable looks. It's simply a tastefully tuned NSX. The NSX, especially an early car with pop-up headlights, is one of the all-time great car designs. There are no unnecessary lines or curves. It's all purposeful. As expected with something with 230,000 miles, this NSX had a number of dings and dents. Clarion Builds has fixed those, replacing the hood and spoiler with carbon-fiber parts from an NSX-R. The fenders are slightly wider than stock, helping cover the staggered Rays Engineering VOLK ZE40 wheels, 18-inch up front and 19-inch out back. After seeing it in the flesh with the blue paint, black roof and bronze wheels, I don't think there is a better fit for this car. The original but tired 3.0-liter V6 and five-speed manual have been swapped for a 3.2-liter V6 and six-speed manual from a 2004 NSX. Stock, this engine is a wonderful ode to the internal combustion engine. It sings a sweet song all the way to a sky-high 8,200 rpm redline. Still, it wasn't enough. The engine now wears a Whipple-style supercharger, pushing roughly 9 psi of boost. Other modifications include a one-off carbon-fiber intake, a hand-built exhaust and a new ECU, all from AEM. All in, Clarion Builds says this NSX makes 403 horsepower and 296 pound-feet of torque at the wheels. God, it feels good to push this thing.

Edmunds ranks the best used cars for 2013

When people ask us what car we would recommend for them, it's usually not easy to answer. To make a useful recommendation we must consider which of the numerous vehicle segments fits their needs best, and then choose one of the many vehicles offered in each segment. For some people, new cars don't meet their expectations of value, because they lose so much of it the moment they are purchased and driven off the dealer lot. For them, there's always the used-car market, where great deals can be found, but cars' histories of reliability and maintenance records - and perhaps that Certified Pre-Owned warranty - become ever-important factors playing into purchase choice.
To help out, Edmunds has done us the favor of assembling a list of the best used vehicles money can buy, covering model years 2006-2011, according to what it considers the most important criteria when shopping for used autos: reliability, safety, value and availability. That means unreliable, unsafe, super-expensive or limited-edition models don't appear on the list, but instead cars from each segment that are more likely to satisfy the general population.
There are some real goodies on the list, including but not limited to vehicles such as the capable Honda Fit, the cultish Honda Accord coupe (which can be had with a 240-horsepower V6 and a six-speed manual transmission some years), and the powerful Chevrolet Corvette. While Edmunds' choice of the Volvo C70 for best used convertible baffled us at first (not that it's a bad car), it redeemed itself by stating that the Mazda MX-5 still is an unofficial top choice if you don't require more than two seats.