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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.

Our Mazda MX-5 Miata has the best engine bay in the business

One of the things that's really disappointing about modern cars is how they all hide their technology under a proverbial bushel. You pop the hood, and nine times out of 10, you're faced with some amount of black plastic hiding the functional bits. On some cars the plastic covers the bare minimum to have a "presentable" engine. Others have every tank, hose, wire and screw buried under a layer of smooth plastic. Few exemplify this practice better than engine bay of the current Lexus LS 460, seen below. If Lexus was this embarrassed about its engine, maybe it should have simply bolted the hood shut. However, like with weight gain and power creep, our fourth-generation Mazda MX-5 Miata bucks the plastic trend. Lift the aluminum hood of the little roadster, and you travel back in time more than a decade. (See the gallery up top.) Only one bit of decorative plastic is in sight, and it proclaims the car's Skyactiv technology and hides some of the wires leading to the ignition coils. Otherwise, nothing else is obscured. The shock tower braces, manifolds, battery terminals, the whole shebang is all right there for you to see. What's particularly amazing is that it all looks good. Even in some cars that eschew plastic covers, it's no guarantee of an attractive engine bay. We just had a new Honda Civic Sport hatchback (seen immediately above), and while it doesn't sport a plastic engine cover, you can see from the photo that it's not particularly attractive with tubes and cables snaking every which way. But in the Miata, the hoses and wires are kept to a minimum, and the ones that are there are arranged in a way that isn't haphazard or tangled. Then, in the middle, there's the clean, simple aluminum cam cover as the gleaming centerpiece, similar to those of the first- and second-generation cars. As the owner of a '99 Miata, this detail in particular gives me the warm fuzzies. The fully exposed engine bay fits with the Miata's personality. The car is very straightforward, it features just the absolute minimum of style and comfort additions, and is highly accessible. I would say the Miata's engine bay is the window to its soul, if driving it didn't offer a clearer picture. Related Video:

Recharge Wrap-up: BlaBlaCar raises $100M, NASA launches CO2 satellite

BlaBlaCar, a ridesharing startup in Europe, has raised $100 million in a funding round led by Index Ventures. After recently growing to 12 countries and 8 million users, BlaBlaCar plans to us the funding for even more aggressive growth throughout Europe. The ridesharing service pairs drivers and passengers, allowing passengers to catch rides between cities while allowing drivers to save money on fuel on road trips. Drivers are not allowed to make a profit, and are only allowed to charge enough to break even after BlaBlaCar takes its percentage, to keep costs low for everyone involved. BlaBlaCar doesn't currently have plans to break into the US. Read more at The New York Times or at Gigaom. NASA has launched its Orbiting Carbon Observatory-2 into space to keep track of carbon dioxide in Earth's atmosphere. After being delayed on Tuesday, the Delta II rocket equipped with an instrument to measure CO2 launched from Vandenberg Air Force Base in California at 5:56 am on Wednesday. It is ultimately headed for a polar orbit to watch how CO2 levels rise and fall throughout the seasons, in part to try to figure out if the land and oceans will continue to be able to absorb half of carbon emissions. The mission will last two years, and should give further insight into climate change. Learn more in the video below, at NASA or at New York Times. Mazda is likely to release a plug-in version of its Mazda2 hatchback with a rotary range extender, reports Australian site Motoring. The electrified Mazda2, and any other future Mazda EVs and hybrids, will likely be limited to markets with government subsidies for such vehicles (which doesn't include Australia) says Mazda Australia Managing Director Martin Benders. "As the best possible fuel economy at an affordable price hybrid doesn't make sense, because the fuel economy gain isn't that great unless half of all sales are hybrid, which won't happen without big tax breaks like in the Netherlands," said Benders. That doesn't rule out the US, though. A prototype version of the range-extended Mazda2 featured a 0.33-liter rotary engine to provide power to the lithium-ion battery pack when depleted. A 2.6-gallon gas tank essentially doubled the electric Mazda2's driving range to 250 miles. Read more at Motoring. Zap plans on selling 1,000 Urbee EVs per month to SunRa for distribution in China.