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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.

2018 Mazda6 Wagon: Beautiful but forbidden

Mazda has finally revealed the updated Mazda6 wagon it announced a few weeks ago. It's just as beautiful as we expected. The exterior features most of the same updates as the sedan version. They include a grille with more depth and dimension, a cleaner lower fascia, and headlights that are more integrated with the grille. Inside, the dashboard has been revised to look less cluttered, and the high-end leather and suede trimmings of the Signature trim are available. View 12 Photos Of course, the 2018 Mazda6 wagon still won't be available in America. And that's particularly disappointing, especially for this author, because the car looks so great. But we do understand the reasons why. Nobody buys wagons, at least without plastic body cladding on them. Plus, Mazda already offers the CX-5 here in the United States, and it serves effectively the same purpose, but in a much more popular crossover package. Seriously, the CX-5 is Mazda's best-seller over the last two months, selling more than twice as many as the next best-seller, the Mazda3. But there's still a silver lining to our lack of a wagon. You see, a close examination reveals that while the European Mazda6 sedan and wagon get most of the same updates as those in the American market, they won't get the 250-horsepower, 310 pound-feet of torque-producing turbocharged 2.5-liter gasoline engine we're getting. And given a choice, we would probably prefer more power than a wagon variant. The most potent engine over in Europe will remain the diesel 2.2-liter engine making 181 horsepower and 328 pound-feet of torque. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Gallery 2018 Mazda6 wagon View 30 Photos Image Credit: Live photos copyright 2018 Drew Phillips / Autoblog.com Geneva Motor Show Mazda Wagon 2018 Geneva Motor Show mazda6 wagon

Toyota, Honda, Mazda and Nissan recall 3.4 million vehicles for faulty airbags

Most vehicle recalls that take place these days are a result of some problem that happens during the manufacturing process by the automaker, but as we see here, parts suppliers can also factor in to problematic safety issues. Automotive News is reporting that a total of 3.4 million vehicles produced by Japanese automakers between 2000 and 2004 are being recalled globally due to faulty airbags produced by an outside supplier, Takata Corp.
According to the report, vehicles from Toyota, Honda, Nissan and Mazda are being recalled because of passenger front airbags that do not inflate properly. Globally, Toyota is said to be recalling around 1.73 million cars including 510,000 in the US composed of Toyota Corolla, Matrix, Sequoia and Tundra as well as the Lexus SC430 for the 2001 through 2003 model years; this is the second time this year the 2003 Corolla and Matrix have been recalled for an airbag problem. Honda is recalling 1.14 million models, Nissan another 480,000 and Mazda 45,463. The article says that Takata supplied faulty airbags to non-Japanese automakers, but it did not specify which ones.
Honda and Toyota have released information on their own websites about the recall, while Nissan and Mazda have not yet commented. Read official press releases from Honda and Toyota, below, and look for updates as we have word from the others.