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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).

The original Acura NSX: Development history and driving the icon

The original NSX, introduced in production form in 1990 by Honda and to the United States market under the Acura brand in 1991, is now officially 25 plus years old. Generations of car enthusiasts grew to love the original NSX over the 15 years it was in production and beyond, but as an fan and owner, I think it's important to fully realize just how monumental a shift the introduction of the NSX was in the art of making cars. So, retold 25 years later, this is the abridged story of the NSX, Honda's supercar. The Idea The NSX was an extremely risky project for Honda, a company that in the late 1980's was nowhere near the corporate juggernaut that it is today. Honda's eponymous founder, Soichiro Honda, was still involved in decision-making at the company during this time under the role of "Supreme Advisor," and it is debatable whether the NSX project in its infancy would have gone forward at all had he not still been pushing the company towards the spirit of technical achievement it had been known for in the prior decades. Mr. Honda was still so involved during this period, in fact, that when the first batch of 300 production NSXs were made with a version of the Acura badge he didn't like, he ordered all of the cars stopped at port in the USA, the new badges applied, and the offending incorrect badges sent back to Japan to be systematically destroyed. This was clearly a man who paid attention to the details, but I digress. Honda as a company devoted $140 million dollars to the NSX project ($250 million in today's money), half of which would go to developing the car, and the remainder of which would go to building a new state-of-the-art factory to assemble it. Honda's own goals for the NSX were actually exactly as most media stories portray the car today: to build a bona-fide exotic supercar, but one without the ergonomic and reliability penalties associated with that type of car. They didn't want to sacrifice the needs of the driver to the supposed demands of performance, demands that they felt didn't have to be there in making a truly top-level performance machine. The R&D team wanted a car that could hang with heavyweight exotics in a straight line, play with smaller and more lightweight sports cars in the curves, and cruise in serenity on the freeway. Essentially, they wanted it all, and the brief was to have a car that could do everything without compromise.

Cody Loveland's Corvette-powered NSX claimed by Pikes Peak

Let there be no doubt - racing automobiles can be very dangerous. This unfortunate fact of life has been proven once again today by Cody Loveland, owner of LoveFab, who crashed his Corvette-powered tube-frame Acura NSX on the second turn of the Pikes Peak hill climb course, apparently after a rear upper control arm failed. Cody hit a wall of boulders at high speed, after which the racecar caught fire.
Cody was able to escape the blaze unhurt - minus some missing hair that was singed off in the fire - but the car appears to be a complete mess, as you can see from the image above. The LoveFab Motorsports team has vowed to do its very best to rebuilt the car in time for the competition, but we'd be awfully surprised (and impressed) if that burnt-up hulk were ready for racing with just a few days to rebuild.
We're happy to hear that Cody got away safely, and here's hoping the rest of the competitors get up the hill without incident, or, like Cody, are at least able to walk away uninjured if they don't.