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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.

Finalists for 2014 Green Car of the Year announced

The list of finalists for the 2014 Green Car of the Year has been announced, and in a genuinely bizarre twist, there's only one hybrid and no electric vehicles among the five contestants, despite the arrival of cars like the BMW i3 and Tesla Model S. Taking the place of the EVs are a pair of diesels, repping a technology that last won a Green Car of the Year award in 2009, when the Audi A3 TDI took the title. No diesel was in the running for last year's award.
Naturally, both of the diesel finalists are fielded by the Germans - with BMW's 328d and Audi's A6 TDI getting the nod. In the case of the 3 Series, BMW installed a 2.0-liter, turbodiesel, capable of delivering 180 horsepower and 280 pound-feet of torque, while returning 45 miles per gallon on the highway. Audi and its larger, 3.0-liter, V6 turbodiesel produce quite a bit more grunt, with 240 hp and 428 lb-ft of grunt, but net a very impressive 38 mpg on the highway in the A6.
Finalists for this year's awards include two diesels, three gas-powered cars and a plug-in hybrid.

Mazda's Tokyo concepts have us wishing for more Mazdaspeed

It's been a while since we've seen any new Mazdaspeed machinery, and we're sorry to report that today isn't the day the wait ends. But if you want to see what they might look like based on Mazda's latest models, the Tokyo Auto Salon will be the place to be in a couple of weeks. Turns out the Zoom-Zoom brand has a whole raft of performance models in store for the aftermarket expo. Most intriguing to our eyes is the trio of Racing concepts – one based on the MX-5 Miata roadster, one on the CX-3 crossover, and one on the Mazda6 sedan. Each is done up in black with full aero kit, new rolling stock, and Alcantara interior. An adjustable suspension is the big change to the MX-5 – known simply as the Mazda Roadster in Japan – which also features red trim. As does the CX-3, while the Atenza (which we know as the Mazda6) goes for a more monochromatic, murdered-out appearance. The rally-prepped Mazda2 (known domestically as the Demio) focuses on a stripped-out interior with bucket seats, racing harnesses and a roll cage. There's a spec racing MX-5 in white livery with roll cage and tow hooks as well to join the Global Cup roadster we've already seen. That also goes for the RX-Vision and LM55 Vision Grand Turismo concepts which have already made the rounds but will be on display at the Tokyo salon as well. But it's those three Racing concepts that leave us salivating for production performance models to come – and hopefully come to North America in the process. Related Video: