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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.

New fuel-cell sedan leads Honda's Tokyo lineup

It's time to talk Tokyo Motor Show friends, and as is so often the case, there's going to be some weird stuff arriving at this year's event. From Honda, we have a few important pieces of news. Arguably the most exciting is a new fuel-cell vehicle, called the FCV. Don't worry, Honda calls that remarkably unimaginative name "tentative." Looking like a mix of the new Civic sedan, a Nissan Maxima (that roofline!), and a Tesla Model S, this four-door coupe offers room for five, a 434-mile driving range, and motivation from at least two electric motors. Details are remarkably scarce, but all signs point to this being a vehicle worth getting excited about. That's not the only big news, though, as Honda will also show off the new production version of the Odyssey hybrid. Honda didn't provide any images of the fuel-sipping minivan, but did let slip that it uses a Sport Hybrid-iMMD system. Again, there isn't a lot of information, but the iMMD, short for "intelligent Multi-Mode Drive," has been used on other Honda products before. While Honda is also bringing out vehicles we're familiar with – both the new Civic Type-R and NSX will make appearances in Tokyo – the company's motorcycle arm is bringing a trio of interesting concepts. First, and perhaps most exciting, is the EV-Cub Concept. If that names sounds familiar, it's because Honda showed a bike with the same name in 2009. Drawing inspiration from the original (and legendary) Super Cub, the EV-Cub situates a battery and electric motor low and in the center of the body for optimum weight distribution and in turn, easy riding dynamics. Next, we have the Neowing. Featuring a three-wheel layout with a four-cylinder boxer engine and a hybrid powertrain, there's a lot to like about this concept's mechanicals. Unfortunately, there aren't any images of the Neowing yet. That's also the case with the Light Weight Super Sports Concept, although unlike the trike, mechanical details are wholly absent, too. So for this one, you'll have to wait until we're actually on the ground in Tokyo. What is pictured, though, are a pair of new concepts – the Wander Stand and Wander Walker. Again, details are scarce – if you're sensing a theme, you're not alone – but based on the images, the Wander Stand looks like a waiting room on wheels and the Wander Walker is a mobility scooter. Here's hoping more info is released before press days on October 28 and 29.

2016 Honda Civic pricing leaks, starts at $18,680 [UPDATE]

UPDATE: Alright, we made a mistake. Turns out this "leak" was actually just a mockup done by a CivicX forum member, and we totally went along with it. Sorry, folks. You'll have to wait a little longer for your hot Civic pricing news. The tenth-generation Honda Civic ranks among the most anticipated new models on the way this year, especially after seeing the concept for the design at the New York Auto Show. Now, we might be getting an idea of what the compact actually offers from two leaked spec sheets. According to info posted on 10th Civic Forum, the 2016 Civic Sedan LX starts at $18,680, which is just $190 more than the same trim for the 2015 model. For that, buyers reportedly get standard features like LED running lights, LED taillights and a five-inch touchscreen infotainment system. The SE (Sport) trim upgrades the suspension for $19,995. The EX includes full LED headlights for $21,200, and the EX-L adds leather upholstery for $22,885. A separate sheet purportedly details the coupe, which comes standard with the sport suspension. The base price is the same as the sedan. The EX starts at $20,145, and the EX-L is $22,870. Oddly, both of these sheets only mention the CVT, rather than the previously announced six-speed manual, but they do detail two engines. There's a 2.0-liter four-cylinder with 165 horsepower and 145 pound-feet that can reportedly get to 60 miles per hour in 7.9 seconds. Fuel economy is listed here as 40 mpg highway, 34 mpg city, and 35.5 mpg combined. There's also the 1.5-liter turbocharged four-cylinder, and this document suggests that it has 167 hp and 191 lb-ft and can get to 60 in 7.6 seconds. Mileage is shown as 41 mpg highway, 35 mpg city, and 37.5 mpg combined. Both mills are pretty good upgrades over the 143 hp and 129 lb-ft from the current 1.8-liter four-cylinder in the Civic. As leaked documents, we can't be entirely sure how valid any of these numbers are, so take them with a grain of salt for now. In any case, the 10th-gen Civic is supposed to hit dealers this fall, and you can read the full specs in the gallery below.