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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

Toyota and Mercedes begin the Super Bowl ad teases with dads and hares

Advertising Age says pregame buzz is where Super Bowl advertisers really build momentum for their Big Game commercials, so let the teasing continue. We've seen the 30-second spot for the Lexus NX, Mercedes-Benz and Toyota are next out of the tunnel with campaigns that focus on a fable and fathers, respectively. The Mercedes tease gets former NFL wide receiver Jerry Rice lining up a talking-heads debate with eight-year-old Andrew Hunter about whether Hunter's hare could beat a tortoise in a race, but it's a disaster before it even begins. In what will be a continuing storyline, a social media component lets people side with #TeamTortoise or #TeamHare, with "a Big Race viewing party" going to a lucky winner. Mercedes also promises there'll be a hero at the end, which we imagine will something in the Three-Pointed-Star family as opposed to the Testudinae or Leporidae families. Toyota's all about the biological family, rolling out a series of tweets and Vine videos showing off ex-NFL'ers and their kids to hype the "One Bold Choice Leads to Another" campaign for the Camry. The profiled paterfamiliae will be examples of those "who have contributed to their families' lives in bold ways." A 60-second spot during the pre-game will feature Paralympic athlete Amy Purdy, then those stand-up dads will get their own 60 seconds during the second quarter. The social media tag for this one is #OneBoldChoice. You can watch Mercedes' opening salvo above, and check out a Toyota tweet with ex-quarterback Kurt Warner below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Automotive News - sub. req., Mercedes-Benz, Toyota via YouTube (M-B), Twitter (Toyota) Celebrities Marketing/Advertising Mercedes-Benz Toyota Super Bowl Commercials Videos

Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.