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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.

2015 Acura TLX priced from $30,995*

Following a delay this spring, Acura is now ready to launch the 2015 TLX sedan this August, with pricing now confirmed to start at $30,995, *not including $895 for destination. This base MSRP is just $360 more than that of the outgoing TSX sedan; the TLX replaces both the TSX and TL in Acura's 2015 model year lineup.
That's a pretty fair deal considering that introductory price gets buyers a front-wheel drive TLX with a 2.4-liter inline four-cylinder engine with 206 horsepower,mated to a new eight-speed dual-clutch transmission, and featuring the automaker's Precision All-Wheel Steer (P-AWS) system. Adding a Technology Package ups the MSRP to $35,025.
Of course, the TLX is also available with a 290-horsepower, 3.5-liter V6 mated to Acura's new nine-speed automatic transmission. The TLX V6 P-AWS starts at $25,220 and climbs to $39,250 with the Technology Package. The bottom line on the range-topping Advance model is $42,500. Acura's Super-Handling All-Wheel Drive is available with the 3.5-liter engine, too - the SH-AWD Technology model starts at $41,450, while the SH-AWD Advance commands $44,700.

A smoother operator | 2017 Acura MDX Sport Hybrid First Drive

There's a lot to unpack when trying to understand the 2017 Acura MDX Sport Hybrid. Acura is billing it as a three-row crossover infused with NSX technology via a sport-oriented hybrid drivetrain. So it's a hybrid crossover, sure. But it doesn't comport itself like a traditional crossover, nor is it a conventional hybrid. What it is, underneath, is an intentionally subtle blend of impressive technologies doing their best to appear transparent – and it's too subtle, I fear, to be appreciated by those who'd like it the most. This is a lot of foreshadowing, but if you're not familiar with the MDX Sport Hybrid's powertrain, let's fill you in. The MDX Sport Hybrid uses the same basic system as the 2014 RLX Sport Hybrid, with some newer NSX battery tech sprinkled in, packaged neatly into the refreshed third-generation MDX platform. The system improves handling and efficiency – but more important, it smoothes out the harshness of shifts and engine stop-starts. We do need to examine the system in some detail to understand how all this affects the MDX as a whole, so let's go toe to tail. Up front is a transversely-mounted 3.0-liter V6 making 257 horsepower and 218 pound-feet of torque, as well as featuring i-VTEC and cylinder deactivation. It's slightly smaller than the 3.5-liter V6 found in the conventional MDX and many other Honda and Acura products. Attached alongside is a Honda-produced 7-speed dual-clutch transmission that has a 47 hp, 109 lb-ft electric motor-generator stuffed inside. Amidships are the battery pack and the electronics to control it, and stretching aft from there are large cables feeding power to a pair of electric motors that reside in single housing, one for each wheel. Together, they produce electron witchcraft and torque-delivery wizardry – and add 72 hp and 108 lb-ft of torque to the mix. The total system output is 321 hp and 289 lb-ft of torque – a gain of 31 hp and 22 lb-ft over the conventional MDX SH-AWD. Beyond the raw numbers, there's the remarkable subjective benefit of the Sport Hybrid's drivetrain. Engine start-stop events are quiet and smooth, nearly imperceptible when under way – in stark contrast to the too-perceptible shudder of competing engines kicking on. The electric motors (mainly the one residing in the transmission) add in power to make up for the lull during a shift, making shifts up or down seamless, as well as providing regenerative capacity.