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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.

Alonso pins McLaren's woes squarely on Honda's shoulders

BARCELONA (Reuters) - Fernando Alonso spent more time on the tennis court than driving his ailing McLaren on Friday, with his tilt at the Indy 500 looking ever more inviting after another dark day on the Formula One racetrack. Alonso's home fans had barely settled in their seats for practice at the Spanish Grand Prix before his car's Honda engine blew in a mess of smoke and oil. Liquid then poured out of the car as it was tipped up by a recovery crane. Having failed to start in Russia two weeks ago due to an engine failure on the formation lap, Alonso departed the Barcelona circuit after a few choice words and later posted a picture on Instagram of himself playing tennis. "The engine was not good enough. We came out of the pitlane and there was a hole in the engine, and the oil was streaming out. It blew up after 400 meters," Alonso told reporters after returning for the second 90-minute practice session. He was last on the timesheets and reported that the engine was even slower. If the tennis photo looked like a dig at Honda, accompanied with the seemingly sarcastic comment "keeping the body active", he said that had not been his intention. "I have very little time in these weeks, with traveling, with planes," said the 35-year-old, who will go straight from Barcelona to Indianapolis on Sunday night to prepare for his debut in the 500 on May 28. "So when I discovered that I had two hours free, instead of being on the sofa and watching television, I went for some training. My dedication is still 100 percent to my fitness and my preparation. "It wasn't humor to go outside the circuit to play tennis, it was preparation. People got it wrong. I went out to have some fun and escape the circuit." McLaren, the second most successful team in Formula One history in terms of race wins, have yet to score a point in four rounds of this year's championship and are last in the standings. Honda's Formula One reputation, after two seasons of unreliability and poor performance, is meanwhile being dragged deeper into the mud. Alonso is out of contract at the end of the season and has said his future whereabouts would depend on who could offer him a winning car. "It's not my reputation, it's theirs (Honda's) – and it's their money, and their image," he said. "I try to drive as fast as I can but it's a much bigger problem for them." (Reporting by Alan Baldwin, editing by John Stonestreet) Related Video: This content is hosted by a third party.

Honda develops breathalyzer smart key with Hitachi

Honda and Hitachi have joined forces in developing a combined breathalyzer and automobile smart key. According to Honda, the device has been designed to be tamper-proof and able to differentiate between human breath and alternative gases. It is also said to accurately measure alcohol level in three seconds, and the reading will then be displayed in the car's information panel. Ignition interlocks that integrate an alcohol detector are becoming more commonplace. For example, in Japan professional drivers are required to pass a breathalyzer test before beginning their shifts, and development for a detector-controlled ignition interlock has been launched by the National Highway Traffic Safety Administration in the US. While the images released by Honda show the device to be relatively bulky and about the size of a mobile phone, it is still a prototype under development. Honda also notes that the breath test doesn't need to be performed inside the car, but it can be done at home – reducing the temptation to get behind the wheel while under the influence of alcohol. Related Video: Image Credit: Honda Auto News Honda Safety Technology drunk driving breathalyzer hitachi smart key