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VW Finds CO2 'Irregularites', SEMA Recap, and More | Autoblog Minute

Volkswagen's diesel emissions scandal gets a new wrinkle, US regulators hit Takata Corporation with a substantial fine, and we head to Vegas for a look at tuner paradise at the 2015 SEMA show. Autoblog Senior Editor Greg Migliore reports on this edition of Autoblog Minute Weekly Recap. Acura Chevrolet Honda Mazda Mitsubishi Toyota Autoblog Minute Videos Original Video Acura Legend

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.

2016 Mazda2 gets EPA-rated 43 mpg highway

To paraphrase the famous quote from astronaut Neil Armstrong, that's one small step for man and one giant leap for the Mazda2. The Environmental Protection Agency (EPA) has weighed in on the new Mazda2 version, and says it gets a fuel-economy rating of 33 miles per gallon city and 43 mpg highway with a six-speed automatic transmission. Stick-shift gas-mileage figures are 31 city and 42 highway, which are still substantially better than the 29/35 rating from the most recent iteration of the model. That's about a 15-percent jump in fuel economy, people. More importantly, the Mazda2 beats out competitors such as the Hyundai Accent, Kia Rio Eco and even the Honda Fit in terms of fuel efficiency, which is pretty good company. The Mazda2 boasts a 1.5-liter four-cylinder engine. But it is the upgrade to six-speed transmissions in both manual and automatic versions that seem to be making the biggest difference in the ratings. Mazda started unveiling details about the next-generation Mazda2 last year, and last fall began production of the model at Mazda's new factory in Salamanca, Mexico. At that time, the Japanese automaker had already sold more than 2.4 million Mazda2 vehicles since the model's introduction in 1996. Related Video: