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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.

CES Part 2: Honda/Sony Afeela, BMW i Vision Dee and more | Autoblog Podcast #763

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor James Riswick and Associate Editor Byron Hurd. This week, they pick up from last week and dig deeper into some of the reveals and news coming from this year's Consumer Electronics Show (CES) including the Ram 1500 Revolution, the Afeela EV collaboration from Sony and Honda, Peugeot Inception, BMW i Vision Dee and VW ID.7, among other highlights and musings from the show. They also discuss the cars they've been driving, including the BMW iX, Mercedes EQS SUV, two-door Bronco Badlands, Mazda CX-50 Meridian Edition and Toyota RAV4 Wilderness Edition. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #763 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown CES 2023 Ram 1500 Revolution Sony Honda Mobility Afeela EV prototype Peugeot Inception BMW i Vision Dee Volkswagen ID.7 Cars we're driving 2023 BMW iX 2023 Mercedes EQS 450 SUV 2022 Ford Bronco Badlands Two-Door 7MT 2023 Mazda CX-50 Meridian Edition 2023 Toyota RAV4 Woodland Edition Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts CES BMW Ford Honda Mazda Mercedes-Benz RAM Toyota Volkswagen Peugeot Truck Coupe Crossover SUV Concept Cars Electric Luxury Off-Road Vehicles Performance Sedan Afeela

2016 Mazda MX-5 Miata to make video-game debut next week in Forza Horizon 2 [w/video]

We've driven the all-new, fourth-generation Mazda MX5 Miata. Have you? Well, probably not. With the new roadster not set to hit dealerships until later this year (at the earliest), you might be stuck waiting a bit to climb behind the wheel of the highly regarded two-seater. Of course, if you happen to own Forza Horizon 2, your wait will be significantly shorter. And it'll be absolutely free to boot. The new convertible will make its video-game debut as part of a four-vehicle car pack for the open-world racing title. Downloads will start on March 17. Alongside the new MX-5, the Mazda car pack will also add representatives from each of the roadster's first three generations. Repping the NA will be the 1990 MX-5. The second-generation NB will be represented by the turbocharged 2005 Mazdaspeed MX-5, while the NC will arrive in the form of the Super 20 Concept, shown back at the 2010 SEMA Show. On top of the new vehicles, gamers will also have a chance to win a 2016 MX-5 as part of the new Mazda MX-5 Challenge. Running from March 17 to April 30, those interested in a free Mazda will need to lap its virtual counterpart around the Sisteron Perimeter Sprint Circuit, with the two fastest drivers slated to take part in a head-to-head race in June. The winner will walk away with their very own 2016 MX-5. Oh, and as a final juicy tidbit, the press release clearly states that the Miata weighs in at just 2,332 pounds – just a smidge more than the original NA. (That's with the manual transmission, of course – automatic cars are said to weigh 2,381 pounds.) You can get more specific details on the contest, as well as read more about the car pack, in the attached press release. Check out the release, as well as a preview vid of the MX-5 Car Pack. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. MICROSOFT AND MAZDA LET YOU DRIVE IT FIRST: ALL-NEW MAZDA MX-5 DEBUTS AS FREE DOWNLOAD FOR FORZA HORIZON 2 ON XBOX ONE IRVINE, Calif., March 12, 2015 -- Beginning March 17, Mazda North American Operations (MNAO) is giving Forza Horizon 2 players the exclusive opportunity to drive the all-new 2016 Mazda MX-5 Miata on Xbox One months before the physical car goes on sale to the public. Additionally, by taking advantage of the free download of the car, and driving it in the game, users will have the chance to win one by competing in the new Time Trial Rivals Contest.