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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.

This is the 2017 Mazda MX-5 RF targa-roof fastback

We knew Mazda was going to introduce a new Miata variant ahead of the 2016 New York International Auto Show, but the smart money was on a power retractable hardtop version that largely mirrored the last-gen car's folding number. So it was a surprise when the new 2017 Mazda MX-5 RF – retractable fastback – drove onto the stage sporting wild buttresses and a hide-away targa roof panel. The buttresses lift up and swallow the rear window and roof panel in a matter of seconds, and then the buttresses snug back down. This leaves a hoop spanning the buttresses, but at least it's done up in black to be less visually apparent. The result is more of a targa roof experience, rather than the previous PRHT which gave occupants essentially the same experience as the soft-top with the top down. No matter. The result is stunning, and will differentiate the RF even more from the standard MX-5. Mazda designers took extra care to make sure the interface between the MX-5's dramatic fenders and the trailing edges of the roof support provided enough visual drama. Mission accomplished, we'd say. We can't take our eyes off that part of the car. View 13 Photos As you might expect, mechanical changes seem to be minor, although we'll be asking for detailed specs. Both the 1.5- and 2.0-liter engines will be available globally, but only the 2.0-liter Skyactiv-G engine will be sold in the US. The roof can be operated at up to 6.2 mph. Mazda claims the truck space is unaltered from the soft-top model. We don't yet know how much, if any, the RF's mechanism adds to the bantamweight roadster, nor the premium it'll command. Expect those details closer to launch. Related Video:

Lexus, Mazda win KBB 5-Year Cost To Own Awards

We focus a lot on what new cars are like to drive, but it's difficult on a one-week loan to really get a sense of what a car is like to live with. Sure, we try to recreate that sense with our long-term vehicles, but even after a year, it's impossible to know fully learn about a car, particularly in terms of reliability and cost of repairs. For 2014 model year vehicles, Kelley Blue Book has put together a list of the most affordable vehicles over a five-year period.
At the tippy top of the list are Mazda and Lexus, with the Zoom-Zoom automaker winning the award for best non-luxury brand. Lexus, meanwhile, was the most affordable luxury marque over a five-year period. It's interesting to note, though, that not a single Mazda won its segment in this year's awards.
General Motors did quite well, taking eight segments, including both the subcompact and plug-in segments, with the gas-powered Chevrolet Spark and Spark EV. The Chevy Camaro SS and ZL1 took the high-performance car award. Toyota was well represented, with five winners split between the main brand (Corolla, Prius C and Tacoma) and Lexus (LS and RX).