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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.

Honda tweaks ad after catching ire from Detroit protesters [w/video]

Honda has released a revised version of its youth-focused Today is Pretty Great commercial because the original used footage of Detroit bankruptcy protesters in front of the Theodore Levin US Courthouse. The protesters felt that Honda was making fun of their plight. The new version cuts out the protestors and replaces them with a close-up of a bankruptcy court sign. Honda says that it never intended to tie the ad to Detroit and made the change to avoid that appearance.
"The slight change we made to the commercial simply reflects our desire to remove anything that would get in the way our uplifting message," said Honda spokesman Steve Kinkade in a statement to The Detroit News.
Honda's footage of the protestors lasted about one second in the original ad. It blurred the protestors' faces, and the name of the courthouse was not visible. The company said that the footage was meant to represent any courthouse in the US. Both versions have about five seconds of negative imagery at the beginning before transitioning to young people saying that there are some great things about today too.

Honda to reveal new Civic Coupe in LA

Honda will reveal 2016 Civic Coupe next week at the Los Angeles Auto Show. The company isn't saying much, but promises the two-door will "showcase even sportier lines" than the sedan that launches this week. The coupe will also feature the same engines as the four-door model, which is powered by either a 2.0-liter inline-four or a 1.5-liter turbo. These will just be the tip of the iceberg in what Honda promises will be "the most diverse and innovative lineup in Civic's 43-year history." Additional variants to follow, including a five-door hatchback, a warmed-up Si model, and a smokin' hot Type R version that will be the first of its kind to be offered in the US. The first sedans will begin arriving at dealers this month, with the coupes to follow in the new year. For now, the 2016 Honda Civic Coupe will be showcased alongside the new Clarity FCV that debuted in Tokyo last month and will be marking its North American debut in LA. Honda to Debut 2016 Civic Coupe and Next-Gen Clarity Fuel Cell at 2015 Los Angeles Auto Show Nov 10, 2015 - TORRANCE, Calif. - World debut of all-new 2016 Civic Coupe elevates sporty styling and dynamic performance on 10th-generation Honda Civic platform - 2016 Civic Coupe marks next step of ambitious cadence in new Civic lineup - Clarity Fuel Cell vehicle makes North American debut in advance of U.S. launch in 2016 Honda will reveal details on two exciting new expressions of its Clean, Safe, Fun brand values at the 2015 Los Angeles Auto Show with the world debut of the all-new 2016 Civic Coupe, the second in a line of new 10th-generation Civic models that will be launching over the next 18 months, and the North American debut of the all-new Honda Clarity Fuel Cell sedan, providing an early look at Honda's next-generation approach to low-carbon mobility, scheduled to launch in the U.S. next year. 2016 Honda Civic Coupe Built on the same athletic Civic platform that underpins the highly anticipated 2016 Civic Sedan that goes on-sale at Honda dealerships nationwide on November 12, the 2016 Civic Coupe will showcase even sportier lines, with an intimate, high-tech interior and engaging powertrain options to continue Honda's focus on launching the sportiest and most expansive Civic lineup in brand history.