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Honda exec says US market near capacity, could hurt subprime buyers

Is there a point in the US auto industry where companies should start considering the welfare of their customers ahead of selling more cars? American Honda Executive Vice President of Sales John Mendel thinks that level exists, and we may be getting very close to it.
According to Automotive News, Mendel believes that finding more customers in the market could require pursuing subprime buyers and offering longer-term loans. However, he refuses to use those tactics. While selling models this way can improve things briefly, the strategies hurt resale prices and lower vehicle profits over time. The company won't do "stupid things in the short-term that damage the person who bought yesterday," he said to Automotive News. "It's a very, very short-term tactic especially in the subprime area."
American Honda, which combines the Acura and Honda brands, has seen market share decline from 9.7 percent to 9.1 percent through July 2014, according to Automotive News, and Autoblog's By the Numbers stats showed it posted falling sales in five of the seven months with data this year. Though, Mendel claims that was partially because the company focused on retail sales over fleets. The delays of the launches for the Honda Fit and Acura TLX likely didn't help either.

Honda gunning for world's longest Rose Parade float

Honda has participated in the annual Rose Parade for the past 53 years and returns this year as the presenting sponsor for the fourth time running. But it's not satisfied merely putting its name on the event; Honda intends to lead from the front with what promises to be the longest float in the parade's long history.
The float, previewed in the rendering above, will measure 274 feet long, as tall as 30 feet high, as wide as 18 feet and weighing a whopping 50 tons with 8,980 flowers covering its surface. The train will be led by a locomotive designed to mimic the Acura NSX, with Asimo at the wheel. The second car in the train showcases a Honda engine, followed by a robotic arm, and, for the first time in the parade's history, a pair of 30-foot LED monitors displaying images of spectators lining the parade route. A caboose inspired by the Honda Jet will pick up the rear.
Oh, and in case you're wondering just who Honda will be knocking off the record books with its 274-foot train of roses, that would be... also Honda. The Japanese company set the record in 2005 with a 207-foot float. Scope out the details in the press release below and click the image above to view in high resolution.

Which car companies are creating new jobs in America?

Since January, automakers have announced investments totaling $9.5 billion in U.S. plants, creating or retaining more than 12,000 jobs. Some of those companies have yet to announce just how many jobs will be created given their investments, with the location of many of those jobs still to be determined. Specifically, the 4,000-job Toyota-Mazda joint venture plant still hasn't announced its location, with numerous states jockeying for it. Hyundai has plans to invest $1 billion but has not announced a jobs number yet. And likewise Ford is investing $1.2 billion in Michigan without specifying a number of jobs. Volvo this week announced plans to add a second line to its factory under construction in South Carolina, spending another $500 million and adding 2,500 jobs to the 2,000 it was already trying to fill. Then Thursday, Daimler announced a $1 billion expansion to its facility in Tuscaloosa, Ala., to produce EV batteries and electric SUVs, a move that will add 600 jobs to its hiring this year. Above, we've created a handy pie chart showing you which companies have announced new jobs and how many there will be. Reporting by Paul Lienert in Detroit News Source: Reuters Plants/Manufacturing BMW Chrysler Ford GM Honda Hyundai Mazda Mercedes-Benz Toyota Volvo jobs