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Japanese automakers welcome North American trade deal, fear what's next

TOKYO — Toyota, Nissan and Mazda welcomed on Tuesday the revised North America trade deal that left Japanese automakers unscathed, but they may face a bumpy ride when Washington and Tokyo hold new talks on over $40 billion of annual U.S. auto imports from Japan. The United States and Canada reached an agreement on Sunday to update the 1994 North American Free Trade Agreement after Washington had forged a separate trade deal with Mexico in August. The updated deal effectively maintains the auto industry's current footprint in North America, and spares Canada and Mexico from the prospect of U.S. national security tariffs on their vehicles. Mazda, which ships cars to the United States from Mexico and Japan, called the deal a "big step forward". Nissan, which makes the cars it sells in the United States locally as well as in Mexico, Japan and other countries, said it was "encouraged" by the agreement. Toyota, Japan's biggest automaker, said it was "pleased" that a basic deal was reached. Other automakers were not immediately available for comment. While the deal has removed the risk that the disintegration of the pact would have posed to automakers, bigger risks loom large for Japanese firms as a chunk of the roughly 7 million cars they sold in the U.S. last year were shipped from Japan, and a trade deal between Washington and Tokyo has yet to be agreed. The United States and Japan last week agreed to begin fresh trade talks, with U.S. President Donald Trump seeking to address Japan's $69 billion trade surplus, of which nearly two-thirds comes from auto exports. Washington is also investigating the possibility of slapping 25 percent tariffs on auto imports on national security grounds, although it has agreed with Japan to put any new tariffs on hold during the talks. Analysts say the United States may take a tougher stance on auto imports from Japan than from its neighbors. "If Japan requests an exemption from the 25 percent tariffs under consideration, Washington could propose a more strict cap on imports than it agreed to with Mexico and Canada," said Koji Endo, senior analyst at SBI Securities. "That would be a risk." This could be a big blow to Japan, as the United States is a key source of revenue for Japanese automakers including Toyota, Nissan and Honda. The U.S. market accounts for a quarter or more of their annual global vehicle sales, and of their total U.S.

Nissan shows how EVs are breaking the niche barrier in Norway

Call it Keeping up with the Hansens. Through a combination of environmental consciousness, big-time government incentives and good old-fashioned peer pressure, Norway has become the country with the highest number of electric vehicles per capita. And Nissan couldn't be happier. EVs have about a 15-percent new-vehicle market share in Norway, Nissan says in a new four-minute video called No Longer Niche (watch it below). Between Norway's cheap electricity and incentives such as bus-lane use, free parking and free public recharging, Nissan's sold more than 15,000 of its all-electric Leaf EVs since sales started in Norway in 2011. In fact, Norway's EV incentives were scheduled to run through 2017, but the rules' 50,000-EV threshold may be reached as soon as next year. The rising (and, we suspect, somewhat frigid) EV tide has helped other vehicle makers, to a lesser extent. This past spring, The Wall Street Journal reported that Tesla Motors' all-electric Model S sold almost 1,500 units in March, breaking the all-time single-model monthly sales record for the country. To put EVs' 15-percent market share in perspective, consider this: last year, Ford F-Series pickups, the biggest-selling US model, accounted for about five percent of US new vehicle sales. So, in order to visualize the EV effect in Norway, imagine three times as many Ford F-Series pickups on the road in the US as there are now. On second thought, don't. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Carlos Ghosn's lawyers in Japan quit after client's flight to Lebanon

TOKYO — Japanese attorneys representing Carlos Ghosn, including lead lawyer Junichiro Hironaka, quit on Thursday following the former Nissan chiefÂ’s flight to Lebanon from Japan, where he had been fighting financial misconduct charges. Hironaka had been representing Ghosn in his defense against financial misconduct charges. His move, announced Thursday, was widely expected after Ghosn escaped to Lebanon late last month. A second lawyer in GhosnÂ’s three-person legal team, Takashi Takano, also quit on Thursday, according to an official at his office. A person who answered the telephone at the office of the third lawyer, Hiroshi Kawatsu, said she did not know if he still represented the former automotive executive. Hironaka said in a statement that the entire team working on the case at his office will quit but did not outline reasons. He has said before he felt some empathy for Ghosn's reasons for escape, while stressing he had hoped to win vindication in court. Hironaka is respected for winning high-profile cases in this nation where the conviction rate is higher than 99%. Among the cases he has handled is that of Atsuko Muraki, a Welfare Ministry official accused of falsely approving a group to qualify for mail discounts. She was acquitted in 2010. Also Thursday, Nissan released steps it was taking to prevent a recurrence of Ghosn's scandal, and reiterated its denouncement of Ghosn. The automaker said in a report submitted to the Tokyo Stock Exchange that Ghosn had the authority to “single-handedly” determine directors' compensation and such information was not shared with other departments at the company. The underreporting of his future compensation is among the allegations Ghosn faced in Tokyo. In a news conference last week in Beirut, Ghosn insisted again that he was innocent of the charges, which also included breach of trust in diverting Nissan money for his personal gain. He said he fled because he felt he could not expect a fair trial in Japan. Ghosn's flight while he was out on bail awaiting trial means his case will not go on in Japan. Interpol has issued a wanted notice but his extradition from Lebanon is unlikely. Ghosn has accused Nissan and Japanese officials of conspiring to bring him down to block a fuller integration of Nissan with its French alliance partner Renault SA of France. Ghosn, who has signed on an international team of lawyers, has expressed willingness to stand trial in Lebanon.