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As US exports top 2 million, is America becoming the world's source of cheap cars?

North American auto production is booming with 2014 figures just shy of the of the 17.3-million vehicle record set in 2000. With more models being built on the continent, even more are being shipped overseas. Factories in the US exported 2.1 million cars last year – the highest number ever. About half of those went to Canada and Mexico, but more than ever have been heading to places like the Middle East and China. The upswing comes in part from from after-effects from the Great Recession, according to The Wall Street Journal. With a weak dollar and lower production costs after the financial crisis, building vehicles in the US was relatively cheaper and more competitive in the world. At the same time buyers around the world are going crazy for crossovers. According to the WSJ, BMW and Mercedes-Benz are already exporting the majority of their US production of these models overseas. Both automakers have also announced investments to expand production further here to send more vehicles abroad. Even Honda has been shipping more models out of the country than it imported here. There is a concern this international strength could start slowing because the dollar is strengthening against other currencies, though it's too early to know what the actual effect of this could be, according to the WSJ. "Of course, we closely watch currency exchange, but we don't make changes in production or allocation based on temporary fluctuations in the exchange rate," Ford North American boss Joe Hinrichs told the newspaper. Related Video: News Source: The Wall Street Journal - sub. req.Image Credit: BMW Plants/Manufacturing BMW Ford Honda Mercedes-Benz exports us auto production

Honda poised for growth, Detroit to hold steady, Car Wars study says

The automotive industry is expected to keep booming in the US over the next several years, but the train might start running out of steam in the long term, according to 2015's Car Wars report from Bank of America Merrill Lynch analyst John Murphy. The forecast focuses on changes between the 2016 and 2019 model years, and the latest trends appear similar in some cases to the past predictions. Sales are expected to keep growing and reach a peak of 20 million in 2018, according to the Detroit Free Press. The expansion is projected to come from a quick pace of vehicle launches, with an average of 48 introductions a year – 26 percent more than in 1996. Crossovers are expected to make up a third of these, maintaining their strong popularity. However, Murphy predicts a decline, as well. By 2025, total sales could fall to around 15 million units. As of May 2015, the seasonally adjusted annual rate for this year stands at 17.71 million. Like last year, Honda is predicted to be a big winner in the future thanks to products like the next-gen Civic. "Honda should be the biggest market share gainer," Murphy said when presenting the report, according to Free Press. Meanwhile, in a situation similar to Car Wars from 2012, a lack of many new vehicles is expected to cause a drop for Hyundai, Kia, and Nissan. Based on this forecast, Ford, General Motors, and FCA US will all generally maintain market share for the coming years. The report does make some future product predictions, though. The next Chevrolet Silverado and GMC Sierra might come in 2019, which is earlier than expected. Also, Lincoln could get a Mustang-based coupe for 2017, a compact sedan for 2018 and an Explorer-based model in 2019, according to the Free Press. Related Video: News Source: The Detroit Free PressImage Credit: Nam Y. Huh / AP Photo Earnings/Financials Chrysler Fiat Ford GM Honda Lincoln Car Buying fca us

Honda, Nissan, and Toyota expand Takata recall by millions worldwide

Honda, Nissan, and Toyota are expanding their global Takata airbag inflator recalls to cover millions of additional vehicles. Toyota alone is adding about 5 million vehicles to its campaign globally, and over 600,000 of those are in the US, according to Automotive News. Nissan's expansion includes an estimated 1.56 million cars worldwide, including about 326,000 in North America, but the exact models from the company are not yet known. According to Automotive News, Honda has also announced plans to increase the scope of its campaign but hasn't yet disclosed specific models, total numbers, or their location. Company spokesperson Chris Martin tells Autoblog that none of these vehicles are in the US, though. In the US, Toyota is replacing the driver's side front inflators on 160,000 examples of the 2004 and 2005 RAV4 nationwide. It's also swapping out the front passenger side parts for 177,000 units of the 2003 and 2004 Tundra (pictured above) and 2004 Sequoia. The automaker is also expanding its regional recalls in high-humidity areas to include the passenger-side inflators of 300,000 more vehicles. In total, the affected models are 2005-2007 model-year Corolla, Matrix, Sequoia, and Lexus SC; plus the 2005-2006 Tundra is included, as well. All of the states that are covered by this campaign are listed in Toyota's announcement, below. In a statement to Autoblog, Nissan said that it's currently working with the National Highway Traffic Safety Administration on this campaign. "We expect to have a more formal statement and additional information by Friday, May 15," the company said. TOYOTA EXPANDS TAKATA AIRBAG SAFETY RECALLS TORRANCE, Calif., May 12, 2015 – Toyota Motor Sales, U.S.A., Inc. today announced that it is expanding its recalls involving Takata air bag inflators. First, Toyota will conduct a recall to replace Takata-supplied driver front airbag inflators on approximately 160,000 model year 2004 and 2005 RAV4 sport utility vehicles. The inflators could potentially be susceptible to rupture when deployed in a crash, increasing the risk of injury to vehicle occupants. For similar reasons, Toyota will expand two existing recalls for Takata-supplied front passenger airbag inflators, namely: Toyota's nationwide recall launched in April 2013 will expand to include approximately an additional 177,000 model year 2003-2004 Tundra and model year 2004 Sequoia vehicles.