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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.

Mazda 767B crashes during Goodwood, suffers heavy damage [UPDATE]

Update: Autoblog has learned that the Mazda 767B wrecked at Goodwood was being driven by Seniji Hoshino. He was not seriously harmed and was able to walk away from the crash. Hoshino's car was chassis 001 and scored a win in the GTP class of the 1989 24 Hours of Le Mans. A Mazda 767B Group C racer suffered a crash the Goodwood Festival of Speed that tore off the rear wing and did some fairly serious looking front end damage. According to Jalopnik, the racer was taking a timed run during the event's famous hillclimb when it went into the hay bales. The driver is reportedly okay, though. We've reached out to Mazda and Goodwood sources to identify the pilot in question, with no luck so far. Look for an updated post later in the day if we get any answers on that front. Images of the sad wreck seem to be populating on Twitter feeds as we write this. The racing Mazda clearly suffered a big hit today; painful to look at even after the fact. But we're not sure if the damage is beyond the abilities of skilled factory workmen to fix. Our collective fingers are crossed. Mazda has a major presence at Goodwood this year, including the event's art installation. Among all of its vehicles, there are two privately owned 767Bs. These racers have a four-rotor engine, said to be good for more than 600 horsepower in racing trim, and are predecessors to the famous 787B that scored an overall win in the 1991 24 Hours of Le Mans. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2020 Mazda6 starts at $24,920, $200 more than 2019 model year

Mazda increased the price of all five trims of the 2020 Mazda6 by $200. The entry-level Mazda6 Sport starts at $24,000 before $920 destination charge ($965 in Alaska), for a total of $24,920. The only changes for next year are a new key fob likely copying the black and shiny metal unit from the Mazda3, and a new Signature badge likely in the form of the elemental "Sg" pulled from the CX-5 Signature model. The three Premium Paint choices carry over, with the same prices: Snowflake White Pearl Mica for $200, Machine Gray Metallic for $300, and Soul Red Crystal Metallic for $595. Prices of the other four trims run:  Mazda6 Touring $27,580 Mazda6 Grand Touring $30,620 Mazda6 Grand Touring Reserve $33,120 Mazda6 Signature $36,220 We're awaiting word on the arrival of all-wheel drive and the 2.2.-liter turbodiesel fitted to the CX-5. In the CX-5, that engine makes 168 horsepower and 290 pound-feet of torque. An AWD Mazda6 showed up in paperwork filed with the National Highway Traffic Safety Administration in January 2018, spy shots of a diesel-powered sedan followed in May that year, and Mazda mentioned the oil-burner again in April this year. For the time being, power for the 2020 Mazda6 will continue to be sent to the front axle through a six-speed automatic — Mazda eliminated the six-speed manual for the 2019 model year. The Sport and Touring trims come with a 2.5-liter four-cylinder that makes 187 hp and 186 lb-ft. The Grand Touring, Grand Touring Reserve and Signature raise that to a turbocharged 2.5-liter four-cylinder with 227 hp on 87 octane gas, or 250 hp on 93 octane, and 310 lb-ft.