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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.

What a 181-horsepower 2019 Mazda MX-5 Miata means for us, and you

Last month, we reported on a VIN filing dug up by Road & Track that showed that the 2019 Mazda MX-5 Miata's 2.0-liter Skyactiv-G engine would get a power bump, from 155 to 181 net horsepower. As for how the 2019 Miata would make that extra power, we heard rumors it'd utilize a new cylinder head allowing higher revs, accounting for that extra power. Now we have what appears to be a leaked document from Mazda Canada showing exactly where that extra power comes from. According to the document posted at Miata.net (registration required to see the image), Mazda will alter camshaft lift and valve size on both the intake and exhaust side, fit freer-flowing exhaust, and smooth and enlarge the piping on the air intake side. There are also internal engine modifications: lighter pistons with lower crowns for better swirl in the combustion chamber, lighter connecting rods, and a crankshaft balanced for higher-RPM operation. All those extra revs mean extra vibration and noise, so Mazda will ditch the single-mass flywheel for a "low-inertia" dual-mass flywheel – which will attempt to find a nice balance between DMF damping action and SMF directness. Overall, it's a pretty serious engine revision with some driveline changes that will heavily affect the driving characteristics of a fantastic driver's car. Contributing Editor James Riswick and Senior Editor Alex Kierstein, both well versed in Miatas past and present, are here to analyze what this could mean for the little roadster. James Riswick: I don't know much about them lighter crank combustion rods, but I for one welcome the news of more power to the Miata. The jump from 155 to 181 seems like a very prudent Mazda-like thing to do, accomplishing that task through various aforementioned technical wizardry as opposed to slapping on a turbocharger, exclaiming "yee-hah" and calling it a day. Alex Kierstein: That's true. I'm wary of additional power, but you do make a good point that at least this is the right way to do it. Going all-motor will keep the bright responsiveness of the engine intact. But higher revs might make power delivery peakier. Frankly, I'd be ok with moving the torque and horsepower peaks up a bit in the rev range, making it a bit more work to access the engine's sweet spot. The dual-mass flywheel should also help if low-end torque suffers, so less stalling in traffic. JR: Did wonders in the 911 and 718s.

Autoblog Minute: VW Q3 financial woes, 2015 Tokyo Motor Show

Consumer Reports pulls its Tesla recommendation, the U.S. Copyright Office offers a ruling affecting car owners, VW gets hit hard with third-quarter losses, and lots of exciting news from Tokyo. Autoblog senior editor Greg Migliore reports on this edition of Autoblog Minute Weekly Recap. Show full video transcript text [00:00:00] Consumer Reports pulls its Tesla recommendation, the U.S. copyright office offers a ruling that affects car owners and gear heads, VW gets hit hard with third-quarter losses, and lots of exciting news from Tokyo. I'm senior editor Greg Migliore and this is your Autoblog Minute Weekly Recap. After a week away testing vehicles for Autoblog's Tech of the Year award, we're back in the office to recap the week in automotive news. [00:00:30] One of the things you might have missed was Consumer Reports pulling its recommendation of Tesla's Model S sedan. The blemish for Tesla comes after a tally of reviews from customer surveys. The most common problem areas for the Model S as cited by survey takers included: the drivetrain, power equipment, charging equipment, body and sunroof squeaks, rattles, and leaks. So lots of stuff. Though they could not ignore a score of "worse-than-average", Consumer Reports still [00:01:00] highlighted the fact that the Model S was "the best performing car" they've ever tested. Telsa CEO Elon Musk took to social media to defend his sedans saying: "Consumer Reports reliability survey includes a lot of early production cars. Already addressed in new cars." And, "Tesla gets top rating of any company in service. Most important, CR says 97% of owners expect their next car to be a Tesla (the acid test)." In Financial news, Volkswagen took a hit and reported an operating loss of [00:01:30] $3.84 billion. This is the first such loss for VW in 15 years. Toyota reclaimed the crown as the world's largest automaker as well. It's important that it's not all doom and gloom for VW though in Q3. Sales revenues were up and the company's automotive division boasts $30 billion dollars in liquid assets. It's a sizable war chest that will no doubt come in handy, as the company has yet to feel the full brunt of the diesel emissions scandal. Good news for gear heads. The US copyright office [00:02:00] ruled in favor of mechanics and car owners by granting an exception to existing copyright law. The law was originally meant to prevent software pirating and bootlegging of Hollywood movies.