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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, Volvo, Lincoln are North American Car, Utility and Truck of the Year

The Detroit Auto Show has officially kicked off, as it always does, with the announcement of the North American Car, Utility Vehicle and Truck of the Year winners. For 2018, those are the Honda Accord, Volvo XC60 and Lincoln Navigator, respectively. The Honda Accord beat out two other finalists, the Toyota Camry and the new Kia Stinger. The Accord stood out for its styling, drivability and standard equipment. The Volvo XC60 came out ahead of the Alfa Romeo Stelvio and Honda Odyssey minivan. It was chosen for its luxury, ride and value when equipped well. The Lincoln Navigator, a heavily updated model that remained true to the concept car on which it was based, beat the Ford Expedition, as well as the only pickup in the list, the Chevrolet Colorado ZR2 (which was a finalist for Autoblog's own Technology of the Year Award). NACTOY juror Ron Sessions complimented the "more dramatic update" compared to the Expedition. "With its design now aligned with the Continental, the Navigator becomes an even more important image — and the profit-maker for Lincoln," he said. The NACTOY Awards have been around since 1994. A panel of 60 judges, all automotive journalists, whittle the list down to three finalists in each category before announcing the winners in January. The Utility Vehicle category was added for 2017. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2018 Honda Accord Touring 2.0T View 106 Photos Related Gallery 2018 Volvo XC60: First Drive View 22 Photos Related Gallery 2018 Lincoln Navigator: First Drive View 53 Photos News Source: NACTOY Auto News Detroit Auto Show Honda Lincoln Volvo Truck Crossover SUV Luxury Sedan 2018 detroit auto show north american car of the year NACTOY north american truck utility of the year

Honda renews trademark for Acura CDX compact crossover

Honda recently renewed its U.S. trademark for the name "CDX," which the Japanese carmaker first applied for in 2015. Back then, observers expected the name to apply to an Acura version of the Honda HR-V, and they were right — but no one expected the CDX would go on sale only in China, in 2016. For the past two years, the U.S. auto media has speculated on whether the CDX will ever make it here. "(We) have our R&D guys looking into the possibility," group VP of Acura U.S. Jon Ikeda told Wards Auto last April about the CDX. However, he went on to note that it's not as simple as just shipping it over due to regulation differences between China and the United States. The trademark application doesn't mean a green light, but it shows Honda's at least leaving the door open to the prospect. The Chinese-market CDX is a Honda HR-V after a wardrobe change. The only engine option is the 1.5-liter turbocharged four-cylinder from the Civic, CR-V, and Accord, with 179 horsepower and 177 pound-feet (our HR-V uses a 1.8-liter four-cylinder with 141 hp and 127 lb-ft). The only transmission offered is an eight-speed dual-clutch gearbox. Drivetrains can be had in front- or all-wheel drive. We wonder how much longer Honda can sit on the sidelines. The CDX doubled Acura's sales in China in one year. Acura sells more crossovers than sedans in the United States, and in the past two years that the CDX has been on sale in China, the compact crossover segment here has got more crowded and more popular. The Cadillac XT4 is imminent, and we could see the new Lexus UX compact crossover at the Geneva Motor Show. Really, an American-market Acura CDX can't come soon enough. Related Video: News Source: Bozi Tatarevic via Autoevolution Auto News Government/Legal Rumormill Acura Honda Crossover Luxury honda hr-v