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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.

Mazda CX-5 updates bring nav to more trim levels

The refreshed 2016 Mazda CX-5 is already one of our favorite crossovers of its size for the model's engaging driving experience, upscale interior, and slick infotainment system. For a new 2016.5 model year upgrade that arrives in January, Mazda gives customers even more standard features to enjoy, but prices also tick upward. The Japanese automaker just gave the 2016 CX-5 light upgrades like LED signature lights and an update to the Mazda Connect infotainment system. The 2016.5 updates add a backup camera on every version except for the base front-wheel drive Sport with the six-speed manual. For buyers considering higher trims, all Touring and Grand Touring models get the welcome inclusion of standard navigation, and the Touring now comes with heated front seats, too. The extra tech comes with a jump in cost. As of Dec. 15 Mazda increases its delivery and destination charge from $820 to $900 for crossovers and $835 for cars. The change brings the base price of the front-wheel drive 2016.5 CX-5 with a manual gearbox to $22,695, and the top-spec all-wheel drive Grand Touring now retails for $30,770. 2016.5 Mazda CX-5 Adds More Standard Features to Best-Selling Compact Crossover - Backup Camera Now Standard on Most Trim Levels, Navigation Added to CX-5 Touring and Grand Touring - IRVINE, Calif., Dec. 18, 2015 /PRNewswire/ -- Just in time for Christmas, Mazda North American Operations (MNAO) has announced pricing and packaging for the 2016.5 Mazda CX-5 compact crossover, adding value and reducing complexity in CX-5's trim level structure. 2016.5 Mazda CX-5 Adds More Standard Features to Best-Selling Compact Crossover New for the mid-model year, a backup camera is now standard on all trim levels equipped with Mazda's SKYACTIV-Drive six-speed automatic transmission. CX-5 Touring models gain standard navigation and heated front seats. CX-5 Grand Touring models also add navigation as standard equipment. "The added content in 2016.5 CX-5 reflects our customers' tastes toward premium features in a compelling, fun-to-drive, stylish crossover," said Robert Davis, Senior VP of U.S. Operations, MNAO. "CX-5 buyers are educated, upwardly mobile, active-lifestyle individuals. With these updates, we aim to provide them with an even greater ownership experience." Previously, CX-5's backup camera was part of the Rear View Camera Package on the CX-5 Sport trim level. Navigation was available in the CX-5 Touring and Grand Touring Technology Packages.

2014 Mazda6 recalled due to fuel overfill fire risk

Mazda is recalling 19,000 Mazda6 sedans from model year 2014, over concerns that the fuel tanks can be filled up too much. What is it with Mazda and fuel tanks?
The big concern is, obviously, spillage when filling up. There's also a risk that a radical temperature swing could cause the fuel volume to expand, causing a full tank to spill over without the driver knowing about it. According to the National Highway Traffic Safety Administration bulletin, if the fuel spills over, it could end up in something called the charcoal canister, which helps with the car's emissions. If it fills up the canister, it could leak out onto the road. None of this is really desirable.
The affected vehicles were all built between October 25, 2012 and May 9, 2013. It's unclear if there have been any fires due to this problem. Dealers should have been notified by now, while owners should begin receiving official recall notifications very soon.