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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.

McLaren-Honda goes 8-bit in Turbo Heroes

Formula One is all about speeding forward, but it's not without its spats of nostalgia – from retro liveries to a return to turbo power. Take, for example, this latest animated short from the McLaren-Honda team. It's called Turbo Heroes, and it sends us back to the days of our childhood in the 1980s and 90s in glorious 8-bit form. Part Street Fighter and part Aryton Senna's Super Monaco Grand Prix, Turbo Heroes is a game-style video short – the start to a series from the looks of things. It portrays an epic battle in which basic animated versions of Jenson Button and Fernando Alonso (coached by a grumpy Ron Dennis, no less) chase the evil Exhaustus in a race to recover the fabled (and equally fictitious) Jade Dragon of Suzuka to its rightful home in Japan. It's brought to you by the same team responsible for the Tooned series that was targeted at today's kids, only this one takes a decidedly different aesthetic approach. If you grew up around the same time as many of us here at Autoblog did, and got a kick out of films like Kung Fury and Scott Pilgrim vs The World, you'll probably enjoy this one. So put on your snapback, grab a can of Jolt Cola, and crank the ghetto blaster you've got hooked up to that Nintendo Entertainment System for a high-speed race down memory lane. You don't even have to blow in the cartridge.

2016 Honda Civic revealed in patent drawings

Thanks to the sleuths at CivicX.com, we've now got our first glimpse at the production 2016 Honda Civic. The forum found these patent drawings from Honda, showing the next-generation Civic in both coupe and sedan body styles, and we're happy to report that the car seen here is very, very close to the concept we saw in New York earlier this month. Shortly after Honda debuted the Civic Coupe concept at the New York Auto Show, we spoke to the car's lead designer, Guy Melville-Brown, about how this bold two-door would transform into a production model. He told us the Civic should be "a halo product for Honda," and that the concept showed "elements of what we can expect from the production car." The showcar is "what a true Honda Civic should be," Melville-Brown said. Now that we see these patent drawings, a lot of that makes sense. Sure, it's all been toned down for production spec (as expected), but a lot of the bolder design cues are still present. We like the angular shape of the headlamps and front fascia, and we're glad the wraparound taillamps were left alone (on the coupe, anyway – the sedan uses a slightly different design). See all of the patent drawings in the slideshow above, and scroll down for photos and video of the showcar from New York. CivicX.com has more information, including side-by-side comparisons between the patent pictures and the bright green concept. Related Video: