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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.

Fiat 124 Abarth Spider spied, may get Alfa 4C power

We've long been excited to see, hear, and drive the car that results from the in-process Fiat-Mazda partnership. The Italian brand has had access to the excellent 2016 Mazda MX-5 Miata on which to base its own roadster, and the fruits of that labor will soon ripen. Spied here is not only the ensuing Fiat 124, but a hotter Abarth tuned version of the spider. At least, that's what we're hoping. Our spy shooters indicated that the car seen here not only sounded more aggressive than 'standard' 124 mules seen previously, but that it also accelerated away from their long lenses with a smartness. The 124 Spider is already rumored to make use of the 1.4-liter turbo I4 that makes 160 horsepower in the Fiat 500 Abarth, and this version may have a still-more-powerful engine. Another tell about the added output are the quad tailpipes in place of the lesser car's set of two. There's no hard evidence to support exactly which engine might be under the 124's hood, however. It's possible that the 1.7-liter turbo from Alfa Romeo 4C could be in play – with its 237-hp output – as the 124 was originally going to wear an Alfa badge. If that were to happen, however, the Fiat would almost certainly get a dual-clutch transmission instead of the purer manual box. In any event, more details about the car will no doubt crop up closer to the expected reveal this fall. Related Video:

Mazda's awesome Hiroshima museum now navigable by Google Maps

Visiting an auto museum is one of the best ways we know to connect with car culture and to commune with the past and bone up on one's knowledge. Most of us have a decent museum within a few hours drive of where we live, but that doesn't mean it's easy to see the world's great collections - factors like cost, time and mobility can get in the way. Videos are great, but they don't allow us to browse at our own pace or choose what we'd like to focus on. The folks behind Google Maps have a solution - the virtual museum tour, as seen here at Mazda's fantastic museum in Hiroshima, Japan.
The Google Maps tour allows viewers to take a walk through the main exhibition area of the museum, and you can focus on specific classic cars from Mazda, or check out displays featuring new technologies like Skyactiv. To take a quick spin through the museum - or a leisurely stroll at your own pace - scroll down to start your own virtual tour.