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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.

Top 10 small cars with the longest total driving range

Editor's Note: Since this article was originally posted in the spring of 2015, much has changed in the automotive landscape, especially among those shopping for small car economy. With thanks to Volkswagen for their blatant cheating – and subsequent cover-up – on diesel emissions, the largest player in the diesel passenger car segment isn't playing – they're paying; billions are going for both car buybacks and federally-imposed penalties. And for a few VW execs there exists the very real possibility of jail. With the absence of a big player and the abrupt entrance – via Chevy's new Bolt – of an affordable EV with 200+ miles of range, we've limited the diesel listings to Jaguar's new XE. And for those wanting an updated look at efficiency and range, Autoblog has it – or the EPA has it. Long before electric vehicles were part of the mainstream conversation, car lovers and skinflints alike would boast about the total range of their vehicles. There's something about getting farther down the road on one tank of gas that inflames the competitive spirit, almost as much as horsepower output or top speed. Of course, the vehicles with the very best range on today's market are almost all big trucks and SUVs; virtually all have the ability to carry massive reserves of fuel. Top up a standard Chevy Suburban and you can expect to travel almost 700 miles (you'll need to stop before the Suburban stops...), while a diesel-fed Jeep Grand Cherokee manages almost as many. But what about vehicles that are smaller? The EPA has, essentially, three classifications for 'small' vehicles: Minicompact, Subcompact and Compact. All three are measured based on interior volume, meaning that some cars with rather large exterior dimensions and engines slot in next to traditional small cars. But even though impressive GT coupes from Porsche, Bentley and Mercedes-Benz may have much larger gas tanks to feed their powerful engines, that capacity is offset by higher rates of consumption... in most cases. We used the EPA's Fuel Economy Guide for model year 2017 cars as a start, calculating the official highway miles per gallon rating with each vehicle's tank capacity. The resulting numbers aren't necessarily real world, but they do offer a spectrum for total theoretical range. The eventual top ten surprised me on a few occasions, and comprised quite a varied list of vehicles. 10.

2023 Japan Mobility Show Mega Photo Gallery: All the highlights and reveals from Tokyo

The 2023 Japan Mobility Show managed to serve up a surprise heap of exciting and futuristic designs and production reveals. Our staff was on the ground in Tokyo for this year's show, where we captured not just all of the latest automotive trends, but some genuinely weird and fascinating stuff.  Browse: Some Delightful Oddities of the 2023 Japan Mobility Show But on to the cars. This year's show featured introductions from Daihatsu, Honda, Lexus, Mazda, Mitsubishi, Nissan, Subaru, Suzuki and Toyota. Some are weird; some are wild; most are probably destined to change significantly before production or merely fade into the void with the rest of the industry's vaporware, but if even a few of these make it to showrooms, we'll consider it a win. Scroll on down for our live galleries of each of the show's major debuts (and cars we're only now seeing in person for the first time). Enjoy!   BMW X2 and iX2 BMW X2 View 6 Photos   Daihatsu me:MO Concept Daihatsu me:MO concept View 14 Photos   Daihatsu Vision Copen Concept Daihatsu Vision Copen View 7 Photos   Daihatsu Osanpo Concept Daihatsu Osanpo View 6 Photos   Daihatsu Uniform Concept Daihatsu Uniform concept View 6 Photos   Honda Prelude Concept Honda Prelude concept View 5 Photos   Honda Sustania-C and Pocket Concepts Honda Sustania-C and Pocket Concept View 8 Photos   Honda CI-MEV Concept Honda CI-MEV View 3 Photos   Infiniti Vision Qe Concept Infiniti Qe concept View 14 Photos   Lexus LF-ZC Lexus LF-ZC View 8 Photos   Lexus LF-ZL Lexus LF-ZL View 10 Photos   Mazda Iconic SP Mazda Iconic SP concept View 8 Photos   Mitsubishi D:X Concept Mitsubishi D:X Concept View 8 Photos   Nissan Hyper Force Concept Nissan Hyper Force concept View 11 Photos   Nissan Hyper Tourer Concept Nissan Hyper Tourer concept View 6 Photos   Nissan Hyper Punk Concept IMG_6533 copy View 8 Photos   Subaru Sport Mobility Concept Subaru Sport Mobility Concept View 7 Photos   Suzuki Swift Suzuki Swift View 5 Photos   Suzuki eWX Suzuki eWX Concept View 3 Photos   Suzuki eVX Suzuki eVX concept View 4 Photos   Toyota Land Cruiser Se Concept Toyota Land Cruiser Se concept View 4 Photos   Toyota FT-3e Concept Toyota FT-3e View 6 Photos   Toyota FT-Se Concept Toyota FT-Se View 7 Photos     Tokyo Motor Show Honda Infiniti Lexus Mazda Mitsubishi Nissan Subaru Suzuki Toyota