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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 Civic Si making big debut at 2016 LA Auto Show

Auto shows love attracting attention, even if it doesn't necessarily fit in with an automaker's plans. We saw an example of that today when the Los Angeles Auto Show let slip in a press release that Honda is introducing the first hot version of its excellent Civic, the new Si. Listed near the top of a release highlighting the "50 vehicle debuts and 25 press conferences" coming to southern California next week, the LAAS announced the Civic Si would make its global debut alongside a slew of crossovers. Seriously, just about everything else mentioned in the press release is a crossover-y thing. Anyone remember when LA was the green auto show? We already have a fair idea of what the new Civic Si will look like when it arrives in LA – angrier than the base Civic but not so mean as the Type R "Concept" shown in Paris. To dive a bit deeper into what is in store for the Si, we recommend a look at the spy shots up top. Notice the taping around the grille, fascia intakes, and rear end; that's all likely to get a sportier look in LA. Along with a prominent center-exit exhaust, will help Honda bridge the gap between the Civic we know and the car we met last month in Paris. Alongside the Honda, Land Rover Discovery, and Smart ForTwo Electric Drive, expect the Star Wars-spec Nissan Rogue, Alfa Romeo's long-awaited Stelvio crossover, the new Jeep Compass, and a whole heap of other stuff next month. We can't wait. Related Video:

Honda Civic Tourer images arrive early on web

Honda provided a teaser sketch of its Civic Tourer concept wagon about a month ago (right), but today, just a couple days before its official debut at the Geneva Motor Show, we've found these official pics of the car in question from WhatCar?
The Civic Tourer concept adds a little length and height to the current Civic hatchback sold in Europe, stretching the shape every which way to make a new wagon model that will compete with cars like the new Volkswagen Golf Variant, which is also making its debut in Geneva this week.
As we mentioned when Honda released the teaser sketch last month, the European Civic is different from the Civic sold here in the US, so the production version of this concept, which should debut in the fall, will never see the inside of a dealership in the States. Do you care, or does the smaller Fit fill that role well enough for Americans?