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Trump declaration they're a security threat stuns Japanese automakers

TOKYO — Japan's automakers' lobby said on Tuesday it was dismayed by President Donald Trump's declaration that some imported vehicles and parts posed a threat to U.S. national security, as the industry braces for a possible rise in U.S. tariffs. Trump made the unprecedented designation of foreign vehicles on Friday but delayed for up to six months a decision on whether to impose tariffs to allow for more time for trade talks with Japan and the European Union. "We are dismayed to hear a message suggesting that our long-time contributions of investment and employment in the United States are not welcomed," said Akio Toyoda, chairman of the Japan Automobile Manufacturers Association. "As chairman, I am deeply saddened by this decision," Toyoda, president of Toyota, said in a statement. Trump has threatened to impose tariffs of up to 25% on imported cars made by foreign automakers, a move which automakers have argued would ramp up car prices, curb the global competitiveness of U.S.-made vehicles and limit investment in the country, the world's No. 2 auto market. The United States is a vital market for Toyota, Nissan, Honda and other Japanese car makers. Autos and components are among the Asian country's biggest export products. Most of Japan's major automakers operate plants in the United States. The Japan Automobile Manufacturers Association notes that its automakers build about 4 million vehicles a year in North America, or 75 percent of what it sells here. Many are built for export, helping lessen the U.S. trade deficit Trump is concerned about. Major automakers have announced a slew of investments in the United States since Trump took office in January 2017 and put pressure on the industry to create more U.S. jobs. For its part, Toyota has pledged to invest almost $13 billion in the United States between 2017 and 2021 to boost manufacturing capacity and jobs. This includes $1.6 billion for a vehicle assembly plant in Alabama jointly run with Mazda. Government/Legal Honda Mazda Mitsubishi Nissan Toyota Trump

Mitsubishi is killing the Lancer this summer

The small sedan segment is going to get a little smaller this summer. At a Mitsubishi event last night, the company discussed its new focus on the crossover market. It left us wondering where this leaves the future of Mitsubishi sedans. We asked executive vice president and COO of Mitsubishi's North American division Don Swearingen about this, and he said the Mirage G4 will remain on the market to handle some sedan demand, but that Lancer production will end this August. Swearingen did explain that there will probably be leftover stock for a few months after the end of production, but that the car would effectively be gone this summer with 2017 its final model year. He said the sedan market is shrinking and the company needs to make sure any new product it develops is profitable, which is why Mitsubishi continues to shift its focus to the ever-growing crossover market and there are no current plans for a new Lancer. It should also be noted that the current Lancer was introduced a decade ago and wasn't terribly competitive to begin with. Still, we'll miss the Lancer line, even if it was only for the hope that we'd see another Lancer Evolution someday. Related Video:

Mitsubishi Motors posts surprise loss as car sales slide

TOKYO — Mitsubishi Motors on Friday posted a surprise operating loss in the third quarter, its worst quarterly performance in more than three years, hurt by falling sales in China, Japan and Southeast Asia, as well as a stronger yen. The carmaker posted an operating loss of 6.6 billion yen ($60.2 million) for the October-December quarter, widely missing an average forecast for a profit of 11.6 billion yen, based on analyst estimates compiled by Refinitiv. It was the firm's biggest loss since the July-September 2016 quarter, when a mileage cheating scandal sapped profits. However, Mitsubishi stuck to an earlier forecast for a 73% drop in full-year operating profit to 30 billion yen in the fiscal year ending in March. The automaker's net loss for the quarter just ended came in at 14.4 billion yen. The fall in quarterly sales was worst in China and at home, while sales also slipped in ASEAN countries, traditionally a stronghold, leading to a 16% fall in global vehicle sales to 320,000 units. The automaker also said it would keep some of its offices in China closed through Feb. 9, as a new coronavirus spreads throughout the country and beyond. The automaking alliance of Mitsubishi, Renault and Nissan on Thursday said they had "no other option" but to drastically improve their joint operations to remain competitive in the fast-changing global auto industry. Related Video:           (Reporting by Naomi Tajitsu; editing by Richard Pullin) Earnings/Financials Mitsubishi