2010 Honda Accord on 2040-cars

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Toyota raises Japanese base wages for first time since 2008

Toyota is on track for record profits, and in return, its Japanese workers are receiving their first increase in base wages since 2008, plus higher pay based on seniority and a larger bonus for 2014. The Japanese automaker predicts the average laborer will net a 2.9 percent income gain.
The average Toyota employee will earn 2,700 yen ($26.28) more each month, a 0.8 percent increase from last year. Workers will also receive about 7,300 yen ($71.09) more monthly based on seniority and promotions. Finally, the company's union pushed through a median bonus of 2.44 million yen ($23,768) for 2014, the highest in 6 years.
The pay boost comes as Toyota forecasts a record 1.9-trillion yen ($18.5 billion) profit for the fiscal year ending on March 31, according to Bloomberg. It has been helped by the Japanese government's efforts to weaken the yen on international markets and expand inflation. Prime Minister Shinzo Abe has been asking businesses to increase compensation to end years of deflation and offset upcoming higher sales taxes. Honda and Nissan have also raised their wages there in recent months.

China's largest dealer body pushes back against foreign automakers over huge inventories

Do not think for a second that automakers forcing inventory on dealers in order to pad the numbers is a ruse known only in the US. Stories of individual brands have hinted at the trouble Chinese dealerships are having trying to move units as the country's economic growth remains hot but comes off the boil, like the one revealing that 95 percent of Toyota-FAW showrooms are losing money. Yet Toyota isn't the only culprit, and the issue has become so dire that the China Automobile Dealers Association (CADA), the largest dealer body in the country, has written to the government to complain. Chinese car sales are expected to close out the year with an annualized growth of six-percent, down from last year's 14 percent when targets were set, while in the background the pace of overall economic expansion is the slowest its been since the early nineties. Automakers, shipping cars on schedule to make their earlier targets, have blown up inventories such that they are an average of 1.8 times monthly sales, when the preferred multiplier is from 0.9 to 1.2. According to the CADA, the price wars and necessary incentives mean that only 30 percent of dealers are operating in the black. That number is down a whopping forty percent since 2010. In response, Toyota has already said it will not make its 2014 target of 1.1 million cars sold. We're a long way from 2012, when Toyota planned on selling 1.8 million cars in China in 2015, a target that's now as realistic as a manticore. BMW, Honda and Nissan have erased numbers on their spreadsheets, too; BMW growth dropped from 20 percent to 8 percent midyear after it began "reducing wholesale supplies," and Honda has been reworking its plans as sales have decreased each of the past six months. It's a big deal for Chinese dealers to begin protesting publicly, the CADA saying, "In the past, dealers were angry, but dared not speak out. But now, they have to shout because the situation is getting so unbearable." With six-percent growth forecast for next year and dealers unwilling to remain underwater, The Year of the Sheep coming in 2015 could portend meaning beyond the zodiac. News Source: ReutersImage Credit: AP Photo/Andy Wong BMW Honda Nissan Toyota Car Buying Car Dealers

Honda UK closes pre-order books on NSX, opens for Civic Type R

Most of us would probably deliberate pretty carefully before buying a new car – do a little research, read the reviews, take it for a test drive, compare it to the competition. But that's not everyone. Some buyers will order a new car sight unseen. Some will even place their order – for a performance model especially – before the production model is even revealed. And those buyers in the UK have been flocking to Honda for not one, but two upcoming new products. Even before the reveal of the finished car, Honda's British office has taken over 100 orders for the upcoming new NSX just from within the UK. The orders have been coming in so fast, in fact, that Honda has had to stop taking them for the time being. But don't worry, British enthusiasts: the Japanese automaker has just opened the order books for another yet-to-be-revealed performance model. That, of course, would be the new Civic Type R – a promising new hot hatch that Honda has showcased repeatedly in concept form, but has yet to reveal in production guise. That'll happen sometime in the new year, ahead of the start of production slated to take place at Honda UK's own plant in Swindon, England. But before it does, the company's dealers have started taking GBP3,000 ($4,700) deposits on the hot hatch we drove in prototype form but which does not, we're sad to say, look likely to be offered in North America. DEMAND FOR HONDA HOTS UP! TYPE-R ORDER BOOK IS OPEN Honda is pleased to announce that the Civic Type R is on the starting blocks and gearing up for its much awaited 2015 launch. Due to unprecedented demand, customers wanting to be one of the first behind the Type R steering wheel can now place an order with a GBP3,000 deposit at their local Honda dealer. The all-new hot hatch – due in UK showrooms next year – will be the most extreme and high-performing Type R in the 22 year history of the red 'H' badge, signalling the start of a new performance era for the brand. The all-new Civic Type R has been developed and engineered for European drivers. The car will be built at Honda's state-of-the-art plant in Swindon, UK, arriving in dealerships during 2015. The new Type R will mark the debut of the new '+R' button, for example. Located to the side of the steering wheel, a press activates '+R' mode for the most exhilarating driving experience. Engine responsiveness is heightened, with torque-mapping changed to a more aggressive and performance-focused setting.