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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.

Laguna Seca getting another awkward name with WeatherTech sponsorship

According to the Monterey Herald, and also reported by Autoweek, Laguna Seca is getting a new title sponsor and as a result, a new name. The track is currently known by the official name of Mazda Raceway Laguna Seca, a less-than-elegant name that goes away soon because Mazda is ending its sponsorship on March 31. The newspaper reports that the new sponsor is WeatherTech, and the new name, arriving on April 1, adds a word: WeatherTech Raceway at Laguna Seca. We're not sure why it can't simply be known as Laguna Seca, since that's the name that sticks after the sponsors disappear. And we don't know why adding a word is better. Why would you add syllables to say and letters to type (insert lazy writer joke here)? It seems that those in charge of the track are happy with the deal, though. The Monterey Herald reports the deal is for five years of sponsorship at a cost of $5 million and that it's about two-thirds of what Mazda was paying. But the newspaper also reports that the track won't be providing the same track access that Mazda needed, and it may attract other automakers to the track when the track's name isn't partly that of a competitor. Related Video: News Source: Monterey HeraldImage Credit: Getty Marketing/Advertising Mazda Parts and Accessories Laguna Seca

2016 Mazda MX-5 Miata first engine shot revealed

We've dug deep for just about every scrap of 2016 Mazda MX-5 Miata info available out of the car's California reveal celebration, but powertrain particulars have been especially hard to come by. While we still don't have engine specifications, the folks over at Autoweek have scored a nice scoop - the first underhood photos of one of the display cars.
In the image above, the ND-generation Miata is clearly shown to be powered by a Skyactiv inline four-cylinder, as expected, but its displacement remains unclear. The engine is most likely either the 2.0-liter Skyactiv-G engine offered in low-end Mazda3 and CX-5 models or the 2.5-liter Skyactiv-G found in those same vehicles' upper trims. In those iterations, the 2.0-liter generates 155 horsepower and 154 pound-feet of torque, while the larger-displacement engine nets out at 184 hp and 185 lb-ft. There is no sign of a turbocharger, a feature rumored to be fitted to at least one test mule. There has also been previous rumors of a 1.5-liter Skyactiv engine, possibly for overseas markets.
The 2.0-liter strikes us as the most likely scenario, particularly as Mazda has worked diligently to save every gram in the new car, dropping a pledged 100 kilograms (220 pounds) over the current model, even while adding content. It's entirely possible that the alleged turbo car was, in fact, a mule for the Miata's Alfa Romeo sister car, which is expected to have a wholly different powertrain. Or it could simply be a second engine option for an eventual Mazdaspeed variant, perhaps.