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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.

Forza Horizon G-Shock Car Pack brings Nissan IDx, Subaru Brat [w/video]

With winter's icy grip around much of the nation, now may be the perfect time to sit inside at night and enjoy some video games. The latest six-car G-Shock pack for Forza Horizon 2 on the Xbox One is now here, and it gives players a very eclectic group of vehicles to race around the game's open world. This month's group of vehicles spans the decades ranging from 2015 back to 1953. The newest and only concept of the group is the 2015 Nissan IDX Nismo. Since the production chances for this retro coupe look increasingly slim, this game might be your only chance to get behind the concept's wheel. However, if you prefer driving something a bit more classic and Italian, the 1953 Ferrari 500 Mondial is available. To add one more flavor of performance, there is the 2010 Mazda Mazdasped 3 hot hatch, which is also this month's free car for download. In addition to three takes on the sports car, Turn 10 is also offering a trio of off-roaders. The quirkiest among them is the 1980 Subaru Brat GL, which features two jump seats in the back to avoid the dreaded chicken tax. If you prefer something more boxy and American, then the 1975 Ford Bronco is sure to please. Finally, for some real power to get through the mud, there's the 2013 Ford F-150 SVT Raptor as tuned by Shelby with a supercharged 6.2-liter V8 making 575 horsepower. As usual, the whole pack costs players $5 to download, or it's free as part of the season pass. Scroll down for a brief video showing all of these virtual rides off and read the press release about them from Turn 10 Studios. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. "Forza Horizon 2" G-Shock Car Pack Now Available Welcome to the New Year! Are you ready to hit the roads of "Forza Horizon 2" for Xbox One in some new rides? You better be because the G-Shock Car Pack is lighting up the new year with some amazing vehicles. Leading off the pack is a "Forza" First: the 2015 Nissan IDx NISMO is making its videogame debut in "Forza Horizon 2." The IDx prototype harkens back to Nissan's storied automotive history, with its compact size and aggressive appearance, and looks to the future with some serious under-the-hood performance. Take a spin in this gem, and you will be startled by its performance and charmed by its presence. The remaining cars of the pack also have "Horizon Festival" written all over them.

2016 Mazda CX-5 [w/video]

It's difficult for me to get excited about crossovers. I try hard not to be the stereotypical car guy: ignoring the fact that the rest of the world loves these tall hatchbacks, while yelling, "station wagons make more sense!" until I've voided my lungs of air. Deep down I am that guy, but I work around it. Historically the Mazda CX-5 is one crossover that has been quasi-immune to my knee-jerking. It doesn't weigh two tons, offers a manual transmission (in poverty spec, but still...), and looks faster than its competitors. Most importantly, the CX-5 can round a corner without wobbling like a Slinky at the top of the stairs. No item on that list of plaudits would likely crack the top ten "desirables" for average small CUV shoppers. So, for the 2016 update, Mazda instead upgraded the in-cabin experience along with the requisite nips and tucks to the exterior. I borrowed a 2016 model CX-5 to see whether or not those concessions to comfort affected the car-nerd stuff. And to see if the Mazda could still be my go-to CUV recommendation. Driving Notes The engine options are unchanged for 2016. You can still have the fine, 2.5-liter four-cylinder engine, with its 184 horsepower and 185 pound-feet of torque, or its wimpier 2.0-liter lil' brother. My fully spec'd Grand Touring came with the bigger engine, which feels adequately powerful for the class, but not quick. In an era where turbocharged engines are everywhere, revving the Skyactiv 2.5-liter up to its torque peak at 3,250 rpm takes some commitment. I'm annoyed that there's no manual offered with the 2.5L (a combo I can have in both the Mazda3 and Mazda6), but I don't hate the automatic transmission. The six-speed unit is unobtrusive 99 percent of the time; something I regretfully can't tell you about certain nine-speed autos. There are no paddles to play with, but you can tap the shift lever up and down if you're struck by a need for total control. With a new center console and dash, and the addition of the Mazda Connect infotainment system, the '16 CX-5 feels like a new vehicle from behind the wheel. An attractive, pliant, leatherish material swaths the neat console and surrounding real estate. And the perforated leather seats feel damn near upscale. I think that Mazda Connect's version of the central control knob (with handy adjacent volume knob) is almost luddite-proof in its simplicity. There's no latency between twisting and reaction on the screen.