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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.

2016 Honda Accord Coupe V6 Quick Spin

Popular opinion is that Honda has not been a friend to enthusiasts in recent years. The company killed the awesome S2000, got away from building low-cost driver's cars like the CRX, ruined the Civic Si (on multiple occasions, most notably in 2002 and again in 2012), and kind of neutered Acura into a listless near-premium brand devoid of its original charm. But there are bright spots: We're finally going to get a Civic Type R in the US, and while the new NSX is a long way from the lightweight original, it's still an extremely impressive specimen. And then there's the Accord Coupe, which doesn't necessarily look like a typical performance Honda on first glance. Honda has been building the two-door Accord for decades, even as virtually every other mainstream brand has abandoned the segment. What's even more interesting, is that Honda makes one for the car guys. The company builds a V6-powered, two-door coupe with a six-speed manual transmission that probably accounts for maybe half a percent of the Accord's overall volume. Such a blatant disregard for things like economies of scale could only be achieved by a brand with a real passion for performance. Now that the Accord has been fully refreshed for 2016, we set out to revisit our V6/manual hero. Driving Notes This naturally aspirated V6 produces 278 horsepower and 251 pound-feet of torque, which admittedly isn't as much as you'd get from the slightly larger V6 engines you'd find in the likes of the Dodge Challenger, Chevrolet Camaro, or Ford Mustang. But the Honda is extremely willing to rev. That, combined with a startlingly smooth, linear torque curve, means the 3.5-liter Earth Dreams V6 is remarkably composed in both normal and aggressive driving. Low-end grunt is easy to access, despite the 6,200-rpm torque peak, while the throttle response is relatively sharp for what you might expect in an Accord. It sounds spectacular too, with a howly, Civic Si-worthy exhaust note and a notable lack of any piped-in induction silliness. It simply sounds like, you know, an engine – and a very good one at that. The buttery smooth, six-speed manual transmission has a light action, making this a true case where all you need to shift is a flick of the wrist. The clutch pedal is light and the catch point is almost too broad, meaning it's easy to ride the clutch until you get used to this setup. Once you adjust, heel-and-toeing this front-drive coupe actually becomes an entertaining activity.

Takata allegedly hid failed airbag rupture tests in 2000

New evidence suggests Takata engineers knew about the dangers of the supplier's ammonium-nitrate-propelled airbag inflators as early as 2000, but employees hid or even destroyed test results. The allegations came out in a pre-trial hearing in a civil suit from a woman who claims that a forcefully deploying airbag in her 2001 Honda Civic paralyzed her. The pre-trial hearing included an examination of a deposition from Thomas Sheridan, a former Takata airbag engineer, to see if the evidence was admissible for the case, according to the New York Times. Sheridan alleged that Takata created a report for Honda in June 2000 that showed the parts failed, but the supplier hid the testing data. The company also reportedly got rid of the ruptured components so that there was no physical evidence. "But when I went to look for the parts, because some of the parts had come apart, they were no longer available. They had been discarded," he said in the deposition, according to the Times. Takata disputes these allegations, and one of the company's lawyers asserts the inflators in the 2001 Civic are safe. "None of them have ruptured, zero," attorney David M. Bernick told the Times. "We have no evidence, in fact we have evidence to the contrary, that this inflator was defective at the time of the accident." However, Honda has recalls for the driver's side airbag in the 2001-2005 Civic. Previous reports also indicated some Takata employees allegedly knew the inflators were dangerous. For example, an investigation by the Wall Street Journal in 2015 cited internal memos from US employees in 2000 that complained that their counterparts in Japan altered or hid the results of failed validation tests. The New York Times also found evidence of engineers joking about manipulating results. The first Takata inflator recall came on Isuzu models in 2001, and automakers have recalled millions of vehicles around the world since then. Several companies, including Honda, have pledged to stop using Takata's inflators, and he US government fined the supplier $70 million last year. Related Video: