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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.

Man fends off carjackers with car wash pressure sprayer

A simple car wash turned ugly for a Louisiana man last week when he was jumped by carjackers while washing his car. Michael Davis and his brother swung into a self-serve car wash in Shreveport one evening so that Davis could clean his new car. As he was spraying down the bright red Honda Accord, a man entered the wash bay and approached him. "I turned and said, 'I'm not interested I don't have any money or anything', and when I turned back around a guy had come around the corner with a gun pointed at me," Davis told WWII12. Thinking fast, Davis defended himself with the car wash's high-pressure sprayer. "He said, 'Give me your keys and your money,' and I said, 'What'd you say?', and I took the sprayer and just sprayed it right in his face. I heard his friend try to run and get my backside, so I turned around and sprayed him and hit him and they took off running. The whole situation was so surreal." The incident was caught on Davis' dashcam, which showed him spraying the carjackers with the sprayer at close range then hitting both of them over the head with it. Thankfully, the carjackers decided to run instead of pushing the issue, but Davis says that what bothers him is what could have happened. "If they would've taken my keys and my money they probably would have shot me anyway, plus I had my disabled veteran brother in the car. They could have done something to him as well." Recent Video: News Source: WWii2 Auto News Weird Car News Honda Safety Videos car wash louisiana carjacking shreveport accord

The Honda Neowing is a future-retro GoldWing trike

Honda hasn't made a flat-four powered GoldWing since 1987, so it's not that odd to call this trike styled like a Transformer more traditional than the current 'Wings. Then again, with that extra wheel up front and a hybrid drivetrain, it couldn't be less traditional. The styling is decidedly modern, marrying the unabashed futurism of the NM4 with some sport-touring cues. Honda says the Neowing is intended to explore whether the company can combine higher-speed engagement (read: leaning) with low-speed stability. A rider can't fall over at a stoplight on a Neowing, an important consideration when the current GoldWing weighs 904 to 933 pounds. The leaning ability is provided by a proprietary linkage, and even though its method of operation isn't specified, don't be surprised if it's largely the same as a Piaggio MP3 – a pioneer in the leaning three-wheel category.If you're wondering if the Neowing can make it to production, or whether it will look anything like this concept, consider the NM4, pictured at right. That motorcycle pairs pure concept styling with unconventional mechanicals, like the six-speed dual-clutch transmission that allows for full automatic operation. Both the styling and the DCT are intentionally disruptive in the segment; Honda wants to bring in nontraditional riders, and perhaps new riders. The DCT will appeal to those intimidated or uninterested in manually shifting, and the Neowing might appeal to riders looking to tour without fear of dropping a half-ton motorcycle. Honda will have the Neowing in Tokyo, and perhaps the company will shed more light on their plans for the wild-looking concept there.