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Honda sees sales up but profit sliding 16 percent in 2017-18

TOKYO - Honda forecasts a 16 percent fall in operating profit for the current financial year as the Japanese automaker sees higher auto sales being offset by a stronger yen and research-and-development costs. Japan's No. 3 automaker said it expects an operating profit of 705 billion yen ($6.34 billion) in the current FY2018, down from 840.7 billion yen posted in the fiscal year just ended, and lower than an average estimate of 850.8 billion yen from 23 analysts polled by Thomson Reuters I/B/E/S. It sees a 14 percent slide in net profit to 530.0 billion yen this year, down from 616.5. Honda's projections are based on a forecast that the yen will average 105 yen to the U.S. dollar through next March, stronger than the 108 yen rate in the year just ended.BUT CAR SALES ARE UP At the same time, there's good news as Honda expects its global vehicle sales to edge up 1 percent to 5.08 million this year, bolstered by growth in Asian sales to 2.06 million units, beating out North America to become Honda's top market as more Chinese drivers flock to its cars. The company expects to sell 1.92 million vehicles in North America, 2.5 percent less than the year just ended as it struggles to sell sedans including the Accord, which have fallen out of fashion in the past few years. Honda has been ramping up production of SUVs to keep up with strong demand for larger models in the United States, although overall vehicle sales show signs of slowing following a boom cycle after the global financial crisis. Mazda is taking a similar strategy, announcing on Friday it would expand production of SUV crossover models at home, while equipping overseas plants to enable more flexible production of models according to market needs. Japan's No. 5 automaker forecast a 19 percent jump in operating profit for the current financial year as it expects higher sales volumes, particularly in North America, to help it recover from last year's profit slump.A CONSERVATIVE OUTLOOK Executive Vice President Seiji Kuraishi acknowledged that Honda's expected currency hit of 95 billion yen was based on a "conservative" yen forecast, adding that growing costs to create next-generation cars would also impact earnings. "Our costs are rising to develop new technologies which will be needed in the future, like automated driving functions and electric cars," he told reporters at a results briefing.

Refreshed Honda Civic's first commercial is a minor mea culpa

Honda has officially rolled out the first ad for the 2013 Civic. The one-minute spot focuses on a number of clever inventions that improve on old themes, from rocket-powered parachutes to hover bikes and smart window shades, before shifting to the redesigned compact. Set to Santigold's "Disparate Youth," the ad culminates with the phrase, "Things can always be better." This is likely as close as we'll come to hearing Honda say, "we could have done better."
Unveiled at the 2012 LA Auto Show, the 2013 Civic features revised front and rear fascias, nicer cabin materials and an updated suspension just one year after the ninth-generation model debuted. That car received scaling reviews from critics, most notably Consumer Reports, who felt the 2012 Civic was a step backwards for a company known for producing high-quality, economical vehicles. You can check out the full ad for the 2013 Civic below before it debuts during the Rose Bowl.

2017 Honda Accord Hybrid launches with best-in-class fuel economy

After a one-year hiatus, the Accord Hybrid is back. Billed as a 2017 model, it goes on sale this spring. Honda has not detailed pricing for the new version, but American Honda Executive Vice President John Mendel says it will be similar to the 2015 model. The big items are 212 horsepower, an increase of 16, and EPA fuel economy ratings of 49 city, 47 highway, and 48 combined miles per gallon. All of those numbers are class-leading for midsize hybrid sedans. On paper the city figure is lower than the previous Accord Hybrid, rated at 50 mpg, but there's a reason. In 2017 the EPA is revising the fuel economy numbers downward to bring them more in line with real-world results. A similar adjustment happened in 2008. The new Accord Hybrid is certified for 2017, while competitors like the Chevrolet Malibu (47 city/46 hwy/46 combined) and Toyota Camry (43/31/39) use the current rules. Honda says the improvement is about four percent, so if the new car carried a 2016 sticker, the highway figure would be as high as 52 mpg. View 19 Photos Honda's reveal is light on other details about the new Accord Hybrid. The company stated only that the fuel economy gains come from a total re-engineering of the powertrain that includes new electric motors and a revised 2.0-liter Atkinson-cyline gasonline engine. A lithium-ion battery pack in the trunk eats up about two cubic feet of cargo space. The physical layout of the hybrid drive is the same as in the previous Accord, with two motors and a single-speed transmission for the gas engine. An explanation of the three drive modes is below. Honda engineers clarified that while the generator motor near the engine usually charges the battery it will also assist the drive motor in sending power to the front wheels at high speeds or loads. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Honda Sensing, the brand's name for its suite of autonomous and electronic safety system, is standard in the Accord Hybrid. That includes lane-keeping assist, adaptive cruise control, autonomous emergency braking, and blind-spot warning. You can't tell that the Accord Hybrid has an aluminum hood by looking, but sharp eyes will pick up the unique wheel and blue accents to the headlights and taillights. Otherwise the 2017 Accord Hybrid looks and feel exactly like a conventional Accord, save for the "EV Mode" button on the right side of the center console.