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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.

Yes, the Mazda BT-50 pickup is real. No, you can't get one.

Mazda exited America's pickup segment when it deep-sixed the Ford Ranger-based B-Series after the 2009 model year, but it remains committed to the body style overseas. The third-generation BT-50 introduced online wears an unusually stylish design for a global truck, while its interior looks and feels more car-like than before. The BT-50 is based on the Isuzu D-Max, but the familiar shield-shaped grille hides the common DNA well. Horizontal slats and a thick chrome frame create a visual link between the pickup and members of Mazda's line of sedans and crossovers, while stylists gave the rear end more utilitarian-looking lines characterized by vertical lights. The variant depicted in Mazda's images is an upmarket trim built for users who need a rugged daily driver, and more basic versions that feel at home on a construction site will ship will inevitably look a lot cheaper. It measures 208 inches long, 74 inches wide, and 70 inches tall when buyers select the double-cab model and order four-wheel drive. These figures give it a footprint almost identical to the four-door Ranger's. Inside, the BT-50 shares some parts with the D-Max, including its 9.0-inch touchscreen and its HVAC controls. Motorists in global markets are increasingly using pickups as daily drivers, so Mazda chased this trend by adding more technology and safety features to the BT-50. Those willing to climb the trim hierarchy are rewarded with conveniences like an eight-speaker stereo, digital gauges, automatic headlights, parking sensors on both ends, and dual-zone climate control, among other features. Mazda wants to peg its truck a little bit higher than Isuzu's. The only engine detailed by the firm is a 3.0-liter four-cylinder turbodiesel built by Isuzu and tuned to deliver 190 horsepower at 3,600 rpm and 332 pound-feet of torque from 1,600 to 2,600 rpm. Rear-wheel drive and a six-speed manual transmission come standard, and motorists can pay extra for four-wheel drive, a six-speed automatic, or both. It's reasonable to assume a smaller, entry-level turbodiesel will join the range later on. With the 3.0-liter, the BT-50 can haul 2,347 pounds, and its towing capacity checks in at 7,716 pounds. That's more than enough to tow an enclosed trailer, your stripped-out Miata, an extra set of slicks, and a boxful of tools. Making your dreams of Mazda-Mazda towing come true will require moving far overseas, because the Japanese company isn't planning on returning to America's pickup segment.

Junkyard Gem: 1990 Mazda 929 S

In the late 1980s, Toyota, Nissan, and Honda were cleaning up in the American market with the Cressida, Maxima, and Legend, respectively. Mazda wanted some of those dollars, so the HC-series Mazda Luce was modified for the US market and sold here as the 929. It had rear-wheel drive, a powerful V6 engine, and lots of luxury features, but not many were sold. Here's a rare '90 that I spotted in a San Francisco Bay Area self-service yard. In 1990, the sporty 929S version got 190 horsepower from its DOHC 3.0-liter V6. Unfortunately for Mazda, American buyers associated the marque with sensible econoboxes and screaming rotary engines, not luxury machinery, at the time. For the 1990 model year, American-market cars were required to have either a driver's-side airbag or automatic seat belts. The 929 had the automatic belts, the less said about the better. The Luce-based 929 became the Sentia-based 929 for the 1992 model year. Meanwhile, the new luxury brands from Honda, Nissan, and Toyota were kicking the crap out of 929 sales; Mazda had planned to launch the Amati brand in the United States, but didn't have the resources to follow through. The last 929s were sold in the United States for the 1995 model year. Related Video: Featured Gallery Junked 1990 Mazda 929 S View 16 Photos Auto News Mazda