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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.

2025 Honda Civic Hybrid confirmed along with new small Acura crossover

Honda made several announcements Thursday regarding both its core band and its premium subsidiary, Acura, giving us a taste of what to expect from both brands in 2024. The biggest news is that Acura will add a new small crossover to the lineup, slotted alongside the Integra sedan. We can also expect updates to the Honda Civic — most notably among them the introduction of a 2025 Honda Civic Hybrid model for the new sedan and hatchback — and less significant updates here and there throughout both lineups.  We know little about this new baby Acura crossover apart from what it isn't, and that's a direct import of the CDX sold overseas. Scratch that notion from your mind entirely. Honda wouldn't comment further, but we suspect the small CUV's fundamental architecture will be shared with the Honda HR-V, though we wouldn't be surprised to see it benefit from a powertrain upgrade. This is not to be confused with the Acura ZDX, which is the all-electric crossover due to arrive just about any day now . The ZDX is larger and shares its underpinnings not with anything of Honda's, but rather GM's Ultium platform. Elsewhere at Acura, we can expect a thorough interior and exterior update of the MDX and "upgrades" to the RDX.  Over at Honda, the long-expected Civic Hybrid is now officially go. It will launch this year as both a sedan and hatchback alongside a broader update that will include new styling elements (teased above) and interior upgrades; expect more closer to launch. Honda said the Odyssey will receive updates for the model year too, but did not elaborate on what to expect from the effort. We expect more on that later in 2024.  Related video:

Honda discontinuing Euro Accord, no replacement in sight

Honda has built two Accords for many years. There's the one we're familiar with here in the United States, and then there's the Accord sold in markets like Europe and Australia, known here in the US as the Acura TSX. But just like Acura did with the TSX, the Euro-market Accord has been discontinued.
The news comes from The Motor Report in Australia, which is reporting that the Accord Euro will be discontinued in 2015. Sold Down Under alongside the US-market model, the discontinuation of the Aussie car indicates an end to Honda's midsize sedan efforts in Europe, where there is no obvious replacement for the four-door and wagon models.
According to TMR, Honda Australia Director Stephen Collins indicated that focus will be placed instead on the US market "wide-body" model, as it's known. That said, this decision doesn't sound like it's sitting too well in Oz.