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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.

2016 Mazda MX-5 Miata reveal livestream is here and now

Let's not understate the significance and difficulty of what's been accomplished here. In this ever-connected, constantly surveilled modern auto industry, Mazda has pulled a coup - it's kept a new vehicle under wraps. Yes, we've seen hacked up and camouflaged mules and maybe a form under a sheet, but Mazda is about to reveal its next-generation MX-5 Miata, and the car - let alone its specifications - hasn't been leaked anywhere yet. Not via clandestine camera phone snapshot, not by patent drawing, not by leaked ad copy, not even by diecast model. Believe us, we've looked.
And this isn't just some humdrum crossover or workaday compact, it's the Miata, the world's most popular roadster, apple of the enthusiast community's eye and seeming center of gravity for the Japanese automaker. For those who are genuinely excited about cars - about motoring - this is an impressive feat. If anything, Mazda's radio silence regarding the fourth-generation ND Miata has only served to heighten our anticipation for a model that probably won't reach showrooms for another year.
So, what's true and what's false among all the rumors? Will the already lightweight Miata really shed hundreds of pounds? What exactly will live under hood and drive those rear wheels?

Jerry Seinfeld and Margaret Cho get coffee in a Mazda Cosmo Sport

The new season of Comedians in Cars Getting Coffee has already reached its second episode, imaginatively titled, You Can Go Cho Again. If it's classic Mazdas you like, you're in for a treat. In this episode, Jerry Seinfeld plays up the You Only Live Twice vibe you get from the 1967 Mazda Cosmo Sport, as it's suitably similar to the Toyota 2000GT seen it that film – in color, at least. Unlike the Yamaha twin cam six Toyota, the little Mazda is propelled by a characteristic rotary engine, which in Jerry's opinion is similarly eccentric as the episode guest Margaret Cho. The right-hand-drive Cosmo Sport is an unicorn in the States, and it's in absolutely perfect condition right down to the houndstooth upholstery. Check out the video below, or head on over to Crackle for this video along with all the previous episodes from seasons past. News Source: Crackle Celebrities Mazda Classics Videos jerry seinfeld comedians in cars getting coffee