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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.

At least 15 states jockeying for Toyota and Mazda factory jobs

Just a few weeks ago, Mazda and Toyota announced a partnership that would lead to an all-new $1.6 billion plant here in the United States. The plant will build EVs and is expected to employ roughly 4,000 people directly while creating thousands of indirect jobs through suppliers, shipping and more. The Detroit Free Press reports that as many as 15 Midwestern and Southern states are understandably interested in striking a deal with the automakers. Most of the states already have ties to the auto industry. While the Midwest has traditionally been home to auto manufacturing in the United States, in the past 25 years or so, the South has made a big push, offering tax incentives and a union-free workforce. Alabama alone is home to facilities from Honda, Hyundai, Mercedes-Benz and Toyota. Others house a burgeoning tech or manufacturing industry ripe for the picking. Freep breaks down the pros and cons for each state, with much of the focus being on supply chains and a reliable and plentiful workforce. The latter is of particular concern in states like Alabama and Michigan that already have a big auto industry. Toyota may feel those areas have already been tapped for talent. Most of the states are along or adjacent to Interstate 75 and its extended roots, so others like Texas and Iowa will have to fight hard if they want this facility. It's only been a few weeks, though. With manufacturing jobs in such great demand and elected officials eager to show they're seeking them for their states, it wouldn't be surprising if a few more joined the fray. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Detroit Free Press Green Plants/Manufacturing Mazda Toyota

Mazda will introduce a groundbreaking new diesel engine in 2020

Mazda is preparing to introduce its first series-produced electric car, but it's not sending the diesel engine to the automotive graveyard. The company remains committed to turbodiesel technology, and it will take its efficiency to the next level when it introduces a new range of engines in 2020. "We are sticking to diesel engines. In 2020, we have a new approach to diesel engines. We will show you how clean and very efficient diesel engines can be," pledged Christian Schultze, the head of research and development for Mazda's European division, in an interview with British magazine Autocar. He declined to provide specific details about the breakthrough that made a cleaner, more efficient diesel engine possible. Asked about how the engine compared to SkyActiv-X, the carmaker's newest and most innovative gasoline-powered engine, he pointed out "there are not so many differences between [gasoline] and diesel." His announcement falls in line with Mazda's belief that it's crucially important to consider real-world emissions over the life cycle of a car, not just local emissions. The company has realistically stated the internal combustion engine -- whether it burns gasoline or diesel -- will "continue to be the base power for 85 percent of all cars up until 2035." It might join forces with a 48-volt electrical system, or it might be part of a plug-in hybrid drivetrain, but it will still be around in 15 years. To that end, it's important to keep improving the technology, and not to prematurely pen its obituary.  "We hope governments wake up and see that electrification is one way but there are others, too," Schultze concluded, adding that SkyActiv-X is a step in the right direction. Mazda will release more details about its next turbodiesel engine in the coming months, but it's too early to tell whether it will available in the United States, where demand for oil-burning cars has hit rock bottom. As of 2019, the only diesel-powered Mazda sold in America is an upmarket variant of the CX-5 (pictured). Auto News Mazda Diesel Vehicles