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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.

Junkyard Gem: 1982 Mazda RX-7 GSL

The early Mazda RX-7 was one of the few bright spots for sports-car shoppers during the Malaise Era, a lightweight and simple rear-wheel-drive machine with a screaming Wankel engine under the hood. Even though it was designed mostly as a means of getting Japanese car buyers a loophole to keep their engine-displacement-based road taxes low, the early RX-7 sold well in North America. I still find these cars during my junkyard travels, but the 1981-1983 FB-series RX-7s have been getting scarce in recent years. Here's a very solid '82 that showed up in Denver during the winter. Japanese cars of this era tended to rust early and often, but this one appears to be absolutely corrosion-free. The odometer shows just a hair over 100,000 miles, so I'm guessing this car spent decades in covered storage. The seat leather shows a few rips, but the interior looks pretty good overall. The body has some dents and dings, nothing serious. It wouldn't have taken much to get this car back on the road and looking good. The GSL package got you four-wheel disc brakes, a limited-slip differential, and these cool-looking pillar badges.  The list price on a new 1982 Mazda RX-7 GSL came to $11,895, or about $32,350 in 2020 bucks. A new Datsun 280ZX coupe went for $14,499 that year, but was a much more powerful and prestigious car; the less opulent 200SX was just $7,739. If you wanted a new Celica Supra, the price tag was $14,598. The final year for the Fiat-badged 124 Spider (they were sold with Pininfarina badging for a few additional years) was 1982, and that car cost $12,290. Meanwhile, your Chevrolet dealer had new Z28 Camaros starting at $9,700 that year; the RX-7 would eat up the Camaro on a tight road course but would be blown away on the straights. The 12A rotary engine in this car made 100 horsepower from just 1.1 liters of displacement, putting smiles on the faces of those Japanese road-tax payers. Unfortunately, fuel consumption was scary, particularly in the immediate aftermath of the 1979 Oil Crisis. Why did this car end up in a place like this? It was found in an office parking lot with a flat tire and expired registration tags and towed away. Then it failed to attract any bidder interest at the subsequent auction and U-Pull-&-Pay picked it up for next to nothing. So, if you ever wanted an early RX-7, buy the next cheap one you find before it meets a fate similar to that of today's Junkyard Gem. This content is hosted by a third party.

Mazda and Lexus crowned with KBB 5-Year Cost To Own awards

We report on a lot of awards, some of which are given out based on more solid criteria than others. This one, the Kelley Blue Book 5-Year Cost to Own awards, seems like one that new car shoppers should pay attention to.
The cost of a car goes far beyond what you pay for the actual metal, leather and rubber at the point of purchase. Fuel, insurance, maintenance and repair costs, and the cost of fees from the state and financing will all weigh on your wallet while you own the car. That's not even taking into account the biggest cost: depreciation, or the amount of money you lose based on what your car is worth years from now versus the day you bought it.
KBB tracks these sorts of things, and they've compiled a list of winners for 2013 models. On the brand level, Mazda and Lexus earn the 5-Year Cost to Own award for having the lowest overall projected five-year totals (though, curiously, we note that Mazda and Lexus each had only one segment winner). There are lots of winners for all the various segments, so we'll just pick out a few surprising ones to share and you can view the rest here.