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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.

2016 Honda Odyssey Special Edition bundles entertainment system, vacuum for $34,255

The crossover may have supplanted the minivan's popularity, but few vehicles match the capabilities provided by two big, sliding doors and a huge cabin for larger families. With that fact in mind, Honda has updated its highly popular Odyssey with a new Special Edition trim for 2016. Here's what you need to know. The Odyssey SE builds on the $33,305 EX trim by adding a rear-seat entertainment system with a 115-volt rear outlet, the HondaVAC vacuum cleaner, and satellite radio. Total cost for this family friendly tech? An agreeable $34,255, or less than $1,000. That price is extremely favorable compared to the 2015 Odyssey, where an entertainment-equipped Odyssey required the EX-L trim and retailed for $38,255, and a HondaVAC demanded the top-of-the-line Touring Elite trim and a check for $45,480. Bringing the entertainment system and HondaVAC into lower trim levels isn't going to impact the rest of the Odyssey lineup, though. The EX-L with rear-seat entertainment will still be offered, and its price has only jumped $550, while the Touring Elite's price has only jumped $150. And while it might seem like Honda is giving away the farm with the new SE, it's still worth noting that the EX-L adds a lot to the EX package, including a number of safety features, as well as heated leather seats and a power liftgate. Related Video: 2016 Honda Odyssey Poised to Clean Up and Entertain with HondaVAC™ and Rear Seat Entertainment Now Applied to New Special Edition Model High-value Special Edition includes premium features such as Rear Entertainment System, SiriusXM® Radio and HondaVAC™ to offer families even more choice of Honda's award-winning minivan Aug 3, 2015 - TORRANCE, Calif. The 2016 Honda Odyssey goes on sale August 4 with a trim lineup expanded to eight models and a starting Manufacturer's Suggested Retail Price (MSRP)1 of $29,275. Slotted between EX and EX-L trims, the MSRP for the new Special Edition (SE) is $33,375 With the acclaimed HondaVAC® and a comprehensive selection of premium features available lower in the trim lineup, along with class-leading EPA fuel-economy ratings of 19/28/22 mpg2 city/highway/combined, the 2016 Odyssey is designed to comfortably and efficiently accommodate the lifestyles of American families.

Honda Civic Type R clocks 7:50.63 front-drive 'Ring record

Lapping the Nurburgring in under seven minutes may be the ultimate bragging right for supercars, but further back down the field, a battle is being waged between front-drive hot hatches to see which can scope a lap time under eight. Seat was first to claim the crown with the Leon Cupra at 7:58, which was subsequently beaten by the Renaultsport Megane 275 Trophy-R at 7:54. All the while Honda pledged to take the record with the new Civic Type R. And that's just what it's done. As you can see from the video above, Honda's new hot hatch clocked a time of 7:50.63, making it the fastest front-driver ever to lap the Nordschleife and blindingly fast by any account. Honda suggests that the lap was clocked while testing the stock street-legal rubber (and not on slicks) and claims that the roll cage clearly seen in the video was fitted "for safety reasons and not to add rigidity," with extraneous equipment like the front passenger seat and audio system were removed to compensate for the cage's weight. Of course with no official sanctioning body verifying these times and the equipment in which they're achieved, they're a subject of much debate, but there's no getting around the fact that the new Civic Type R is one very serious piece of machinery indeed. NEW HONDA CIVIC TYPE R THROWS DOWN NURBURGRING GAUNTLET - Honda announces Nurburgring lap time for Civic Type R development car - 7 minutes 50.63 seconds lap time is unmatched in the front-wheel drive hot hatch class - Lap time achieved in development car with technical specifications representative of the final production car At the world premiere of its all-new Civic Type R at the 2015 Geneva Motor Show (5 - 15 March; Stand 4250, Hall 4), Honda announced that a development car had achieved a 7 minutes 50.63 seconds lap time of the legendary 20.8 km/12.9 mile Nurburgring Nordschleife in Germany. This time is unmatched by any other front-wheel drive performance hatchback. The lap time was achieved during the final phase of pre-production testing in May 2014 by a Civic Type R development car. The development car was in a standard state of engine tune, with suspension, drivetrain, exhaust, brakes and the aerodynamic package identical to those of the production Civic Type R. The removal of equipment such as air conditioning, the front passenger seat and audio equipment offset the additional weight of a full roll cage (installed specifically for safety reasons and not to add rigidity).