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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.

2017 Honda Civic Coupe spotted for the first time

Rumors about the next-generation Honda Civic have been coming fast and furious in recent weeks. The speculation suggests the future model will use a new 1.5-liter turbocharged four-cylinder and some European body styles will come across the Atlantic. There's even the potential for an overhaul of the CR-Z on the same platform. Now, we've got a glimpse at what the next Civic looks like in coupe and sedan form. Our spies believe that under all that black diaper is the 2017 Civic Coupe, but it's hard to discern any details. With an open section on top it's even difficult to get a good idea of the roofline, though some of the photos suggest a fastback-style rear. The examples concealed in white are believed to be the future Civic Sedan, and one of them is exposed enough to get a good idea of its shape. In profile the look is reminiscent of the current Accord, which is good, if conservative. Seeing the two versions together provides few hints about the coupe's styling, other than a shared wheelbase between both cars. The apparent door handle cutout on the driver's side of the coupe is likely a camouflage trick to hide any information about the length or shape of the doors. One recent rumor suggests that the next-gen Civic's styling could be fully unveiled towards the end of 2015. Until then, click through the gallery of spy shots, and let us know in Comments what you think of this design direction. Related Video:

530,000 Hondas, Acuras under expanded NHTSA investigation for steering problem

Earlier this year, the National Highway Traffic Safety Administration opened an investigation into the 2022 and 2023 Honda Civic. The agency had received 145 complaints from owners stating that the car suddenly exhibited “sticky steering” and increased steering effort. WeÂ’re now learning that the investigation is expanding to include hundreds of thousands more cars. The original probe included around 238,000 Civics, but the NHTSAÂ’s latest report, issued Friday, noted that the investigation is expanding to include more than 530,000 Hondas and Acura vehicles. The 2022 and 2023 Honda Civic, 2023 Honda CR-V, and 2023 Acura Integra are affected. A drastic increase in complaints drove the expansion, as the NHTSA said it had received 1,300 reports and was aware of at least 14 crashes related to the problem. An alarming 11 of those crashes involved a roadway departure due to loss of steering control. Two of them came after the driver allegedly overcorrected, and there are three known injuries from the crashes. NHTSAÂ’s report found that the problem happened primarily in the winter months and after the car had been driven in a straight line for an extended period to warm up the vehicle and gear. Though alarming, itÂ’s worth noting that this investigation has not yet reached the recall stage. Honda acknowledged the problem, noting that it was a manufacturing issue for the steering gear unit. The manufacturing process created conditions that could cause greater internal stress, which can wear and deform the gears inside the steering component. The NHTSA also found that the factory did not guarantee consistent lubrication throughout the gear, which could be the cause of the temporary increase in steering effort. The automaker directed its dealers to replace the electronic power steering gearbox to correct a manufacturing defect, but NHTSA will continue its process, moving to an engineering analysis. If that study finds a defect, it could request a recall. Government/Legal Acura Honda Safety