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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.

Mazda explains the thinking behind the MX-30's small battery pack

Mazda's first production-bound electric car, the MX-30, relies on a 35.5-kilowatt-hour lithium-ion battery pack for power. That's relatively small, but the Japanese firm argued it's exactly what the model needs to let motorists drive electric while keeping their environmental footprint in check. Christian Schultze, head of Mazda's European research and development center, told Automotive News Europe the MX-30's battery is responsibly-sized. He explained engineers took a variety of factors into account when debating kilowatt-hours, including how much energy is required to build the pack, how much electricity is needed for a full charge, and the environmental impact of replacing the battery, which Mazda expects could be necessary after the MX-30 has covered about 100,000 miles. Sticking with a smaller pack yields total CO2 emissions on par with a turbodiesel-powered Mazda3. In contrast, using a 95-kilowatt-hour battery (which is close to what Tesla's bigger models use) would have increased the MX-30's life-long CO2 output considerably by requiring more energy to build, and needing far more electricity to achieve a 100% charge. We're not quite sure that math or battery longevity assumption hold up under scrutiny. In any case, small is the direction Mazda decided to go. The trade-off is that the MX-30 (pictured) is expected to drive for about 124 miles between charges, and that figure was achieved on the hugely optimistic WLTP testing cycle; real-world mileage will be lower. That's hardly a jaw-dropping number, and the crossover doesn't qualify for the coveted long-range label, but Schultze told British magazine Autocar it's more than enough to cover the daily transportation requirements of the average European motorist, which stands at a total of 31 miles. That's significant, because Europe will be one of the MX-30's key markets. Deliveries are scheduled to begin in early 2021. Mazda hasn't announced whether it will sell the MX-30 in the United States, or if it will wait until it has a longer-range electric car to enter the segment.

2002 Mazda MX-5 Miata powered by a Jaguar-sourced V6 for sale

Cars & Bids, a relatively new site that specializes in auctioning modern enthusiast cars, is selling a 2002 Mazda MX-5 Miata. While that's hardly unusual, this example lost its four-cylinder engine and gained a Jaguar-sourced V6. Pulling a 3.0-liter six out of a 2000 S-Type and dropping it into an unsuspecting Miata is apparently easier than it sounds. England-based Rocketeer offers a kit that makes the swap reasonably straightforward, though the listing notes the factory air conditioning system is not compatible with the new engine. Cold air aside, the installation is done so neatly that it looks like Mazda envisioned the Miata with a bigger engine. Jag's V6 inevitably adds weight to a roadster praised globally for its nimble handling, but it also brings a whole lot of horsepower to the table. Left stock, a 2002 Miata is powered by a 1.8-liter four-cylinder that makes 142 horsepower and 125 pound-feet of torque. The example listed on Cars & Bids puts 220 horsepower and 221 pound-feet of torque under the driver's right foot, figures that easily offset the weight gain. And, somewhat surprisingly, the six spins the rear wheels through a stock five-speed manual transmission. Flyin' Miata sway bars and Koni shocks improve handling. Close the hood, and this Jagazda looks like a run-of-the-mill 18-year-old Miata. The seller made no modifications to the body, it's still painted in its original shade of silver, and he kept the stock 15-inch wheels. The dual exhaust tips hint at the V6, but they're subtle enough to surprise more than a few racers at the next autocross event. The auction is live now, and bidding stands at $4,250 as of writing with about three days left before the hammer drops. If you miss your chance to bag it, several shops sell kits that let skilled shade-tree mechanics shoehorn Mazda's K-Series V6 (which powered the MX-6 and the Ford Probe, among other cars) into an older Miata. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.     Featured Gallery 2002 Mazda MX-5 Miata with Jaguar V6 View 14 Photos Aftermarket Jaguar Mazda Convertible