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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.

22,000 Honda Shadow 750 motorcycles recalled [UPDATE]

Update: Honda's statement on the recall is now embedded below. The Basics: Honda will recall 22,142 examples of its 2010-2016 VT750 Shadow motorcycles, including the 2012-2014 VT750CA, VT750C2 and VT750C2F; 2011-2016 VT750C; 2013-2016 VT750CS; 2010-2016 VT750C2B; and 2013-2014 VT750C2S. The Problem: Engine vibration can cause a wire for the bank angle sensor to rub against the joint connector on the wire harness. This can eventually cause a loss of the signal, and the engine could stall. Injuries/Deaths: None reported. The Fix: Dealers will replace the bank angle sensor and move the joint connector. If You Own One: Honda expects the recall to begin February 19. More Information: Documents from the National Highway Traffic Safety Administration (as a PDF) report Honda received five warranty claims and five field reports about this issue as of December 14, 2015. Related Video: RECALL Subject : Engine Stall from Loss of Sensor Signal Report Receipt Date: DEC 23, 2015 NHTSA Campaign Number: 15V874000 Component(s): ELECTRICAL SYSTEM Potential Number of Units Affected: 22,142 All Products Associated with this Recall Vehicle Make Model Model Year(s) HONDA VT750 2010-2016 Details Manufacturer: Honda (American Honda Motor Co.) SUMMARY: Honda (American Honda Motor Co.) is recalling certain model year 2012-2014 VT750CA, VT750C2 and VT750C2F, 2011-2016 VT750C, 2013-2016 VT750CS, 2010-2016 VT750C2B and 2013-2014 VT750C2S motorcycles. Engine vibration may cause the bank angle sensor wire to rub on the wire harness joint connector, resulting in a loss of the sensor signal. CONSEQUENCE: Without the bank angle sensor signal, the engine may stall while riding, increasing the risk of a crash. REMEDY: Honda will notify owners, and dealers will relocate the joint connector and replace the bank angle sensor, free of charge. The recall is expected to begin February 19, 2016. Owners may contact Honda Motorcycle customer service at 1-866-784-1870. Honda's number for this recall is JW7. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov. American Honda Statement on VT750 Recall Honda has issued a Safety Recall of some 2010-2016 model-year VT750 motorcycles. It is possible that long term exposure to engine vibrations may cause the bank angle sensor wiring to break, or be damaged, which could cause the engine to stall and increase the risk of a crash.

10 automakers sued over keyless ignitions

Keyless ignition has rapidly proliferated throughout the auto industry to become a fairly normal feature on new cars. It's supposed to offer the convenience of keeping the fob in your pocket and just pressing a button to drive away. However, ten major automakers are now being sued in US District Court over claims that the system is dangerous, Reuters reports. The suit alleges that people are forgetting to shut off the engine, and the lack of an idle timer is the cause for 13 deaths by carbon monoxide poisoning and multiple injuries. The suit currently includes 28 plaintiffs, according to Reuters, but the lawyers are asking for class-action status to potentially add many more. The case goes after a major swath of the industry, including BMW, Daimler, FCA, Ford, General Motors, Honda, Hyundai, Nissan, Toyota, and Volkswagen, plus their related brands like Acura, Infiniti, Mini, and Lexus. In all, over five million vehicles are affected. The assertion here is that people walk away from their vehicle without shutting it off because they believe the engine shuts off automatically. If parked in a garage, carbon monoxide can build up, leading to poisoning. The lawyers claim automakers know this is a problem and also cite 27 complaints to the National Highway Traffic Safety Administration about the issue, according to Reuters. The plaintiffs are asking for an automatic shut-off and damages from the companies. These concerns have come up before, though. Toyota previously faced a lawsuit over a carbon monoxide death after a woman accidentally left her Lexus running. Also earlier this year, GM recalled 64,186 examples of the 2011-2013 Chevrolet Volt because owners weren't shutting them off. The problem resulted in two injuries, and the company released a software update to limit the idling time.