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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.

Mazda CX-5 Luggage Test | How much cargo space?

We're already seen how Mazda's largest crossover, the CX-9, does at stuffing luggage inside its cargo hold. Now it's time for the next rung down the Mazda ladder. The Mazda CX-5 has 30.9 cubic-feet of space behind its raised back seat, which on paper, is considerably less than its top competition. The Hyundai Tucson leads the way with 38.7 cubic-feet, the Honda CR-V (39.2) and Toyota RAV4 (37.5) are basically the same, and the Subaru Forester has between 33 and 35 depending on options. However, the CX-5 does have more than the Chevrolet Equinox (29.9), Jeep Compass (27.2) and Ford Escape when its sliding back seat is in its aft-most position (33.5 when all the way forward).  Basically, this compact Mazda's cargo area is midpack, which makes it a good choice for my first luggage test of the segment. Let's see how much of the luggage in my garage fits inside. As a refresher, I use two mid-size roller suitcases that would need to be checked in at the airport (26 inches long, 16 wide, 11 deep), two roll-aboard suitcases that just barely fit in the overhead (24L x 15W x 10D), and one smaller roll-aboard that fits easily (23L x 15W x 10D). I also include my wife's fancy overnight bag just to spruce things up a bit (21L x 12W x 12D).  I started by keeping the cargo cover in place to see how much fits underneath it. The answer is the four largest bags. The two smaller ones did not. OK, now let's remove the cargo cover, which is an unusual design. Rather than a roller-type cartridge that you manually pull into place or a rigid hatchback-like unit that rises up when the liftgate goes up, the CX-5 basically combines the two. The forward bit is attached to the liftgate and unspools when opened.  To detach it, you need to unfasten these plastic clamps and then remove the cartridge reel much as you would a normal cargo cover. OK, and now here's how much the CX-5 can fit with the cargo cover removed.  All of it! That above configuration is just the first thing I came up with, but there's likely additional Tetris formations to be found. Note that the tailgate does close here but the middle cases' wheels are awfully close to the window.  I'm not going to stop there, though. I went ahead and rummaged through my garage to see what it would take to fill'er up. There you go: one duffle bag and one gym bag stuffed into the spaces. You could probably fit a grocery bag right in front there, too.

Mazda recalls 193k CX-9 crossovers over corroded suspension

An issue with the suspension on the CX-9 has prompted Mazda and the National Highway Traffic Safety Administration to recall 193,484 vehicles across the United States. The campaign specifically affects units from the 2007-2014 model years, manufactured between October 24, 2006, and December 28, 2013. In those affected vehicles, the ball joints in the front suspension may corrode due to water leaking into the fitting. According to the statement below, if the ball joint rusts, the front lower control arm could separate, resulting in a loss of steering control. And needless to say, that could lead to a crash. To repair the issue, Mazda will have to replace both the left and right lower control arms, and will naturally do so free of charge, but will undertake the repairs in stages. First, owners of the affected vehicles will receive a notification that a recall campaign is under way. Then they'll get a second letter when the parts are ready and they can bring their vehicles into their local dealers. The company will start first with 2007-09 vehicles, specifically those registered in the snowy states of the Northeast and Midwest. Specifically: Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, Wisconsin, and Washington, DC. (Oddly, states in the the western portion of the Midwest, as well as the Rocky Mountains and the Pacific Northwest, were not included in that initial phase. Nor was Alaska, for that matter.) After that they'll call in 2010-14 models in the same states before undertaking repairs on vehicles in other areas to the west and south. Related Video: RECALL Subject : Corrosion of Front Suspension Ball Joint Report Receipt Date: JUL 20, 2015 NHTSA Campaign Number: 15V451000 Component(s): SUSPENSION Potential Number of Units Affected: 193,484 Manufacturer: Mazda North American Operations SUMMARY: Mazda North American Operations (Mazda) is recalling certain model year 2007-2014 CX-9 vehicles manufactured October 24, 2006, to December 28, 2013. The affected vehicles have front suspension ball joints that may corrode from water leaking into the fitting. CONSEQUENCE: Over time, the ball joint corrosion may result in the front lower control arm separating from the ball joint, causing a loss of steering control and increasing the risk of a crash.