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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.

2021 Acura TLX revealed, finally looks like a credible luxury sports sedan

We've been given our first official glimpse into the brand-new 2021 Acura TLX sedan, and so far we like what we see. It's clear that Acura wants to be considered a brand that focuses on performance, boosting power with two turbocharged engine options and the return of the Type S variant after a decade-long absence. Acura stuck close to the well-received Type S concept when styling the new TLX, which means the sedan boasts crisp lines, aggressively creased sheetmetal and a low, wide stance. An angular grille is flanked by Acura's Jewel Eye headlights and Chicane LED running lights to create an expressive face, and similarly shaped taillights at the back end finish off a cohesive design. An A-Spec sport package adds darkened elements along with a unique set of 19-inch wheels and a rear spoiler. The 2021 Acura TLX Type S goes several steps past the A-Spec with a so-called Diamond Pentagon grille and larger side air intakes. A front splitter and rear diffuser join the requisite rear spoiler to round out the aero package. Quad exhaust tips and 20-inch wheels are also included as part of the package. But the big news is underhood, with a 3.0-liter turbocharged V6 serving as the headliner. Acura hasn't yet released power figures for the Type S, but promises it will be much more powerful than the outgoing 3.5-liter V6 with "a more than 50-percent increase in low-end torque."   Related: 2021 Acura TLX vs. luxury sedans: How they compare on paper   Standard TLX models will get a new 2.0-liter turbocharged four-cylinder engine that produces 272 horsepower and 280 pound-feet of torque. That's 66 hp and 98 lb-ft more than the previous naturally aspirated 2.4-liter engine, and Acura says there are 123 additional lb-ft at 1,500 rpm. Both engines will send their ponies through a 10-speed automatic transmission. Front-wheel drive is standard, and Acura's fourth-generation torque vectoring Super Handling All-Wheel Drive system will be standard on the Type S and optional on other TLX models. Inside, all TLXs get a tech-rich cabin that features a centrally mounted 10.2-inch display and Acura's latest True Touchpad Interface. A 7-inch digital screen in the gauge cluster is standard, and a 10.5-inch head-up display is optional. Acura's Integrated Dynamics System is controlled via a prominent silver dial, and it now offers a customizable Individual mode.

Acura TLX caught naked in production guise, can you spot the differences?

Acura doesn't tend to do concept cars these days that don't foreshadow a specific upcoming production model. The ZDX prototype of 2010 previewed the production version, as did the ILX and RLX showcars of 2012 and the MDX of 2013. The NSX concept is on its way to production, as the SUV-X concept is likely to do as well in the coming years. So when Acura revealed the TLX prototype at the Detroit Auto Show a few months ago, we all but knew it would only be a matter of time before that, too, would be produced. And here it is.
Spied all but completely undisguised while undergoing testing, this pair of TLX prototypes (one in white, one in black) looks almost identical to the show car. You might spot a few minor tweaks here and there - the strip of LEDs in the lower front bumper have been replaced by round fog lamps and some of the chrome accents are missing - but by and large, we're looking at the same vehicle we saw in Detroit earlier this year.
The finished production version of the TLX is expected to debut at the New York Auto Show next month, after which it will replace both the TSX and the TL, slotting in between the smaller ILX and the larger RLX in Acura's sedan lineup.