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Japan may aid carmakers facing U.S. tariff threat

TOKYO — Japan is considering giving carmakers fiscal support including tax breaks to offset the impact from trade frictions with the United States and a sales-tax hike planned for next year, government sources told Reuters on Wednesday. Going into a second round of trade talks with the United States on Sept. 21, Japan is hoping to avert steep tariffs on its car exports and fend off U.S. demands for a bilateral free trade agreement that could put it under pressure to open politically sensitive markets, like agriculture. "If the trade talks pile pressure on Japan's car exports, we would need to consider measures to support the auto industry," a ruling party official said on condition of anonymity because of sensitivity of the matter. The auto industry accounts for about 20 percent of Japan's overall output and around 60-70 percent of the country's trade surplus with the United States, making it vulnerable to U.S. action against Japanese exports. Japan's biggest automakers and components suppliers fear they could take a significant hit if Washington follows through on proposals to hike tariffs on autos and auto parts to 25 percent. Policymakers also worry that an increase in the sales tax from 8 percent to 10 percent planned for October 2019, could cause a slump in sales of big-ticket items such as cars and home. Prime Minister Shinzo Abe has twice postponed the tax hike after the last increase from 5 percent in 2014 dealt a blow to private consumption, which accounts for about 60 percent of the economy. To prevent a pullback in demand after the tax hike, the government may consider large fiscal spending later when it draws up its budget for next year, government sources said. "One option may be to greatly reduce or abolish the automobile purchase tax," one of the government sources said. The government is also considering cuts in the automobile tax and automobile weight tax to help car buyers, the source added. Reporting by Izumi Nakagawa and Tetsushi KajimotoRelated Video: Image Credit: Getty Government/Legal Isuzu Mazda Mitsubishi Nissan Subaru Suzuki Toyota Trump Trump tariffs trade

Japan's Suzuki, SkyDrive sign deal to develop, market 'flying cars'

TOKYO — Japanese automaker Suzuki Motor Corp and 'flying car' firm SkyDrive Inc said on Tuesday they have signed a deal to team up in research, development and marketing of electric, vertical takeoff and landing (eVTOL) aircraft. In a joint statement, the two companies said they will also work to open up new markets with an initial focus on India, where Suzuki has a roughly half share of the auto market. Suzuki announced on Sunday it plans to invest 104.4 billion rupees ($1.37 billion) in its India factory to produce electric vehicles and batteries. The companies didn't disclose details of investments in their partnership, nor outline any production timetable or target. Founded in 2018, Tokyo-headquartered SkyDrive counts big Japan businesses like trading house Itochu Corp, tech firm NEC Corp and a unit of energy company Eneos Holdings Inc among its main shareholders. In 2020 it raised 5.1 billion yen ($42 million) in total in Series B funds, according to its website. SkyDrive is currently engaged in the development of a compact, two-seating electric-powered flying car with plans for full-scale production. The statement did not say whether Suzuki would be working on this specific vehicle. The company, which is also developing cargo drones, aims to launch a 'flying car' service in Osaka in 2025 when the Japanese city hosts the World Expo. For Suzuki, the partnership will add 'flying cars' as a fourth mobility business, in addition to automobiles, motorcycles and outboard motors, the statement said. ($1 = 120.4500 yen) (Reporting by Satoshi Sugiyama; Editing by Kenneth Maxwell) Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Lucky Australians get super-limited Suzuki Jimny Heritage Edition

Every time the Suzuki Jimny comes up, people in the U.S. throw around phrases like “forbidden fruit” and words like “unobtanium.” Still, the automakerÂ’s newest off-roader may be impossible to get, even for people in markets where itÂ’s sold. The new Jimny Heritage Edition will soon be available in Australia, but its super-limited numbers will make it one of the rarest pint-sized off-roaders yet. Suzuki said it would only build 300 of the retro-inspired Jimnys. The companyÂ’s Australian website shows four colorways, including green, white, grey, and black, each accented by red and orange graphics and red mudflaps. Heritage decals and a unique cargo tray round out the look. The Heritage Edition gets the same 1.5-liter four-cylinder engine that the standard Jimny and Jimny Lite get, which produces around 100 horsepower and 96 pound-feet of torque. Suzuki offers a four-speed automatic transmission in other variants, but the Heritage comes exclusively with a five-speed manual gearbox. The JimnyÂ’s ultra-compact size, short wheelbase, and almost nonexistent front and rear overhangs make it a surprisingly capable off-roader. Utility vehicles have ballooned in size here in the States, and while we never got the Jimny, we did get oddities like the Geo/Chevy Tracker before the market went wild on luxo-barge SUVs. The Heritage Edition builds on the GLX trim, the most “luxurious” variant, if you can call it that. The trim gets a seven-inch touchscreen with Apple CarPlay and Android Auto, navigation, LED headlights, a rearview camera, fog lights, and even some advanced driver aids. Though small and somewhat basic, the Jimny Heritage Edition can be upgraded with several options and accessories. Suzuki offers skid plates, cargo accessories, premium speakers, and even an $1,800 (AUD) 15-inch wheel kit. Pricing starts at AUD 33,490, or $22,591, a few thousand more than the base Jimny. White is the only standard paint color, however, so lucky buyers will have to shell out an additional $695 for one of the other hues. Related Video