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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.

Will Mazda show the next Miata's chassis in NY?

Mazda is being very sneaky about what it is bringing to the New York Auto Show, and it might have something to do with the next-generation MX-5 Miata. Australian website Motoring.com.au spoke to a company insider who told it that at least the chassis for the roadster would debut in Manhattan. The rumor goes that the show will act as the kickoff for the PR campaign for the new model.
We contacted Mazda USA PR Director Jeremy Barnes to find out more, and he would neither confirm nor deny the rumor. "Just because you read it on the Internet doesn't mean you should repeat it," he said to Autoblog. That's not exactly an outright, No.
Supporting evidence that the new drop top might be appearing in the Big Apple includes Mazda's plan to celebrate the model's 25th anniversary at the show. It's bringing 15 cars from the first three generations to display. "It will be absolutely worth attending the New York Auto Show if you're a Miata fan," Barnes said. That at least hints that there might be something he's not telling us. Otherwise it's a lot of sizzle without much steak.

30th Anniversary Mazda MX-5 Miata sells out immediately

Remember back in 2014, when Mazda released the 25th Anniversary Mazda MX-5 Miata and it sold out in 10 minutes? Now, just hours ago at the Chicago Auto Show, Mazda opened the books for the 30th Anniversary model — and you guessed right, it's now sold out as well. This time around, it took four hours, but there's a difference: in 2014, there only were 100 25th Anniversary cars to pre-order, and for the big 3-0, Mazda allocated 500 U.S. cars. We're expecting the 2,500 rest-of-the-world cars will also sell out rather quickly. The 25th Anniversary model was Soul Red, but in the lighting seen in the 2014 article it rather reminds us of the "Sunkist" orange of the original NA generation Miata color test car, the orange one out of six one-off special paint cars. This year's model is more clearly orange, a hue Mazda calls "Racing Orange" and says it's inspired by the 1989 Club Racer concept's ... bright yellow. In any case, it's a good match with the ND's swoopy flanks. There is — we mean, was — a choice of regular Roadster from $34,995 and the folding top RF version from $37,995, and a choice of manual or automatic transmission. It took a refundable $500 deposit to secure one of the 500 cars. Chicago Auto Show Mazda