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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.

New Land Rover Defender aces Euro crash tests

While the 2020 Land Rover Defender has not yet been crash-test by U.S. safety agencies such as NHTSA or IIHS, we do now have results for Europe's NCAP crash tests and accident-avoidance tests, where the Defender earned the top rating of five stars. The Defender model used for NCAP testing was the 110 variant with right-hand drive. The NCAP regimen includes several different crash tests: an offset front crash test into a moveable barrier with both the vehicle and the barrier traveling at 50 km/hr (31 mph), a front crash test into a full-width fixed barrier at 50 km/hr (31 mph), a side-impact crash test with a barrier traveling at 60 km/hr (37 mph) hitting the driver's door, and a side-impact test where the car strikes a pole at 32 km/hr (20 mph). The Defender's scores for the adult occupant and for a child occupant were both 85%. Additionally, the agency looks at the severity of injuries of the vehicle striking a pedestrian, taking data for a pedestrian's head hitting the hood, and their upper and lower leg being hit by the front of the vehicle. There is also testing of the vehicle's automatic emergency braking system's ability to avoiding hitting a pedestrian and a cyclist under various scenarios. The efficacy of active-safety systems for avoiding collisions with other vehicles is also tested. The Defender's score for protecting pedestrians and cyclists was 71%. The driver assists scored 79%. Results for several European-market cars were released together with those for the Defender, the most noteworthy of which was for the Honda E. The electric city car fared less well than the big Land Rover, garnering a score of four stars overall. In the same battery of test, the Honda E scored 76% for adult occupant protection, 82% for a child occupant, 62% for protecting pedestrians and cyclists, and 65% for its driver assists. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Honda tags Civic, Accord, HR-V, Fit and more in fuel pump recall

American Honda Motor Company's recent issues with fuel pumps continue, as a new recall affects a large number of Honda and Acura vehicles from the 2018-2020 model years. The recall covers a total of 136,057 vehicles, including select 2018-2019 Acura NSX, 2019 Acura RDX, RLX, and RLX Sport Hybrid models, as well as 2018-2019 Honda Accords, Civic Hatchbacks, Civic Type Rs, HR-Vs, 2019-2020 Insights, and 2019 Fits.  National Highway Traffic Safety Administration campaign No. 20V314000, published May 28, 2020, states that the low-pressure fuel pump inside the fuel tanks of the aforementioned vehicles could falter or completely fail. Should the low-pressure fuel pump fail, the car could stall, regardless of its state of motion. Recall documents reveal fuel pump might fail due to swelling of the fuel pump motor impeller, which would cause the pump to seize. This issue is the result of a problem with how the parts were manufactured. These "lower density impellers" were "exposed to production solvent drying for longer periods of time." This caused some impellers to have surface cracking, which resulted in "excessive fuel absorption," which warps the impellers. Here's a breakdown of how many vehicles of each type were potentially affected:  2018-2019 Acura NSX: 146 2019 Acura RDX: 34,405 2019 RLX: 124 2019 RLX Sport Hybrid: 206 2018-2019 Honda Accord: 11,227 2018-2019 Civic Hatchback: 24,235 2018-2019 Civic Type R: 1,785 2018-2019 HR-V: 39,676 2019-2020 Insight: 14,959 2019 Fit: 9,294 Honda will notify owners to schedule an appointment with local dealerships. The fuel pump assembly on all affected vehicles will be replaced for free. For more information, visit NHTSA. Related Video: