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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.

2023 Honda Pilot and the promise and pitfalls of PHEVs | Autoblog Podcast #766

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd for a chat about the new 2023 Honda Pilot and its beefed-up TrailSport model. After that, we get a winter-weather long-term update on the BMW 330e care of Greg. Then, it's on to news. The big headlines this week were the brand-new Mazda CX-90 crossover and word that Genesis plans to build its outrageous (and expensive) X convertible concept. Is the world ready for a Bentley fighter from Korea? Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #766 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2023 Honda Pilot 2022 BMW 330e xDrive  News 2024 Mazda CX-90 three-row SUV revealed, with your choice of inline-6 or PHEV The ravishing Genesis X Convertible Concept is going into production Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

AWD Mazda6 or Mazda3? That could be a thing, but there's a problem

We wanted a stronger engine in the Mazda6, and last week at the L.A. Auto Show we got one, Mazda's turbocharged 2.5-liter four. (Though some of us wanted a manual transmission with it, but didn't get that.) And now we learn that apparently a lot of us would like to have all-wheel drive in Mazda's sedans. That might be a tough ask, but Mazda says it hears us. In an interview with CarAdvice, Masahiro Moro, Mazda North America's president and CEO, said there's a big demand in the U.S. for AWD, so Mazda's looking into it. Ah, but maybe we can't have everything. "I think we are not able to combine four-wheel drive and the 2.5-liter turbo. We have a layout issue with the sedans, that's why a four-wheel drive isn't deployed on the Mazda 3 and 6 so far," Moro said. "But there is a huge demand, at least what I know is that in the East Coast of the USA, 80 or 90 percent of premium sedans are sold with all-wheel drive." And with Mazda going upscale, it only makes sense to give upscale, performance-oriented customers what they want, like the AWD sedans the German premium brands have been offering for years. "Four-wheel drive becomes a premium cue for U.S. consumers," said Moro, "and obviously I have asked our R&D department to think about how we can accommodate four-wheel drive capability in the future." Though the CX-9, being a crossover, of course has AWD in combination with that turbo engine, it simply must not have the platform limitations of the sedans. And all-wheel drive in the Mazda6, at least, has been available in Japan, Europe and Australia, but paired with the Skyactiv-D and another smaller engine, diesels we don't get here. Moro's statement leaves open the possibility of AWD with the base 2.5-liter engine, but maybe not. Besides, a premium buyer would want the turbo. So, when Moro says the future, he means not now, not in the Mazda6 facelift we just saw. But maybe in the next big redesign? Or maybe the configuration problems will be easier to overcome when working with the innovative new 2.0-liter Skyactiv-X compression-ignition engine that's expected in the 2019 Mazda3. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2018 Mazda6: LA 2017 View 16 Photos Image Credit: Drew Phillips / Autoblog Auto News Mazda Technology Emerging Technologies Performance Sedan