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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.

The Mazda MX-5 Miata is truly a four-season sports car

For all intents and purposes, the Mazda MX-5 Miata is a product of California. I know it says Hiroshima on the shipping container, but the car belongs to the Golden State as it was dreamt up in Irvine and honed its driving skills on the roads near Santa Barbara. And logic would dictate the Miata would be useless in any situation other than direct sunlight. That's what drivers from other states would think, anyway. It's the time of year when those of us from the west coast fly out to places where it's snowy and icy and everyone laughs at us because the cold and white stuff essentially shuts us down. Make fun of Californians driving in the rain or freaking out when the outside temperature dips below 55 degrees. What can we say, we're just out of our element. Perhaps, then, it's surprising the Miata handles snow a lot better than I do. I found this out when Mazda sent me to Crested Butte, CO, for a little fun on a frozen track. Yes, there was a lot of sideways action, but it had more to do with the two California residents inside than with the car. The company really invited journalists to Colorado to get an idea of how its all-wheel-drive crossovers perform when things get snowy and icy. But the real show was watching how we navigated the autocross course they set up for the rear-drive Miatas that Mazda brought along. The Miata had a good heater, but it was my laughter caused by immense admiration that kept me from freezing my fingers off. Armed with a set of Bridgestone Blizzak winter tires, the Miata performs just about how you'd expect it to – if you're light on the gas and quick with the steering and have a good amount of patience in you. It all works well if you're a pro driver, less so if you're not a frequent track visitor, regardless of the weather. But fortunately we were using the fourth-generation Miata, which has to be the most forgiving sports car ever. On pavement, it behaves like a compact hatchback. Put it in sixth and it's relaxed and compliant, with a ride that doesn't beat you up and an engine that knows when you just want to get where you need to go. Provoke it, however, and it rewards you with predictable responses from the controls. It does the same thing on ice, if you have a firm grasp on how a car responds to the frozen stuff. Starts are tricky, even in second gear, if you underestimate the power from the 2.0-liter four.

2016 Mazda MX-5 Miata Club and Launch Edition unveiled

If you haven't been tempted enough already to place your order for a new 2016 Mazda MX-5 Miata, the Japanese automaker is sweetening the deal even further at the New York Auto Show this week with the debut of two new editions. Most enticing is the arrival of the new Club edition (pictured above), which brings with it a number of upgrades to Mazda's latest roadster. The MX-5 Miata Club comes with 17-inch gunmetal alloys, a limited-slip differential, Bilstein shocks, tower brace and a new spoilers front and rear. That is, when equipped with the six-speed manual. (The automatic is still available as well, but does without the diff, shocks and brace.) Buyers will even be able to upgrade to BBS alloys of the same size, Brembo front brakes and the aero kit previewed by the MX-5 Global Cup racer in Chicago. The Mazda Connect infotainment system comes standard, with seven-inch touchscreen, satellite radio, nine-speaker Bose audio... the works. The Club edition isn't the only new Miata being launched in Manhattan this week, though: so is the Launch Edition. Offered to the first 1,000 customers who place their orders for a new Miata in the US, the MX-5 Launch Edition is based on the Grand Touring trim level and comes in an exclusive combination of Soul Red paint with a tan leather interior. It even comes with a few do-dads to go along with it. Mazda is taking deposits of $500 for those first 1,000 units at www.longlivetheroadster.com, and details of both these upgraded Miatas can be found in the press releases below. Related Video: 2016 MAZDA MX-5 MIATA CLUB MAKES WORLD DEBUT AT NEW YORK INTERNATIONAL AUTO SHOW - Performance-focused MX-5 Club has trim level-exclusive Bilstein suspension, limited-slip differential - NEW YORK (April 1, 2015) – Mazda North American Operations (MNAO) today introduced the 2016 Mazda MX-5 Miata Club at the New York International Auto Show, marking the world debut of the North American-focused Club model. Lighter, smaller, quicker and more nimble than its predecessor, MX-5 has adopted Mazda's full suite of SKYACTIV Technology and KODO-Soul of Motion design. In the process, MX-5 has shed approximately 150 pounds from its predecessor, with a curb weight of 2,332 lbs. when equipped with SKYACTIV-MT six-speed manual transmission (2,381 lbs. with the six-speed automatic transmission).