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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.

Miata driver pulls off hilariously diabolical move in fender-to-fender racing

Racing is all about finding the little advantages over competitors that allow you to get ahead. Sometimes those are legitimate means - like being able to take advantage of a better line through a corner - and other times drivers get a little more creative for a leg up over opponents. Sometimes things might even go a little too far. Case in point: just watch the opening of this Mazda MX-5 Cup race from Silverstone in the UK.
According to the YouTube description, we're riding with James Rogers in this video, and he appears to be pretty talented behind the wheel. Rogers has a great start from fifth that has him in third within just a few corners. He starts stalking the top two drivers, who are already having a fantastic race themselves, but then we see that the person in second is clearly willing to do whatever it takes to win. Just watch the video, and you'll see what we mean. Bravo (?) to that racer for some very quick, albeit fiendish, thinking.

Mazda RX-3 restomod makes Leno scream, us cheer

The Mazda RX-3 Savanna was the rotary-engined version of the Mazda 808 Grand Familia. Sold in the US from 1971 to 1978, the little Japanese fastback earned a reputation as an excellent racecar, winning events all over the world. A racing connection is how a fantastic 1973 restomod example owned by Savant Young made its way to Jay Leno's Garage. Young said that when he was a boy his uncle used to street race an RX-3, and Young liked how the RX-3 sounded and the fact that a tiny import could go up against and beat big V8s of the time. Leno admitted that he has no connection to the RX-3, saying it's not the kind of car he typically likes. But he liked Young's custom update so much that when he saw the coupe sitting outside the Petersen Museum in Los Angeles, he waited for the owner to show up. Young's changes over the 15 years he's owned the car include dropping in the rotary engine and running gear from the second-generation Mazda RX-7, bridge-ported and methane injected. At 15 pounds of boost he says it's putting out about 400 horsepower. The rear end comes from a Toyota Hilux half-ton pickup, to help put all that power down in a car that weighs maybe 2,100 pounds. The color is taken from the Lamborghini palette. Disc brakes all around, 14-inchers up front, control the velocity. Nothing controls the gas mileage, said to be "maybe 12 mpg." And nothing could stop Leno from whooping it up during the driver. Check out the fun in the video above.