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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

In his own words: Carlos Ghosn on why EVs rule

That's a nice little dig at hydrogen fuel cell technology, Mr. Ghosn. The Nissan chief, long a champion and heavy-duty investor of electric-vehicle technology, wrote an essay on his LinkedIn Influencer page on why EVs are the theoretical wave of the future. It's obviously not an unbiased opinion, but he makes his points clearly. Ghosn points out that "refueling" costs per mile for EVs are about 70 percent less than gasoline and more than 60 percent less than hybrids. He cites the rapidly growing network of plug-in vehicle charging stations that are eliminating "range anxiety" with at least some folks, and notes that the fastest growing US plug-in vehicle market is, of all places, Atlanta. Additionally, Ghosn, near the bottom of the post, says that a plug-in vehicle charging station can be deployed for as little as $2,000, while building a hydrogen station costs about $2.5 million. Pretty clever. Nissan's sales numbers appear to give Ghosn's confidence some clout. Through November, sales of the Leaf in the US surged 35 percent from a year earlier to more than 27,000 units. Globally, Nissan says the Leaf's sales are up 20 percent this year. Check out Ghosn's own words below. Zero-Emission Cars: Both Consumers and the Environment Win Last month, the Renault-Nissan Alliance sold its 200,000th zero-emission car. The Nissan LEAF, which we launched four years ago, is by far the top-selling electric vehicle worldwide. Sales are up 20 percent this year. Together with the Renault ZOE and other zero-emission vehicles in our lineup, Renault-Nissan's EVs have been driven about 4 billion kilometers – enough to circle the earth 100,000 times. They are the world's first and most successful mainstream, mass-marketed EVs. Why are more people switching to EVs? The reasons are clear: EVs are convenient: They can be refueled at home or at the office from multiple energy sources, including the increasing amount of clean energy from solar or wind power. Imagine never stopping at a gasoline service station because you wake up to a "full tank" every day. This is one of the top things EV owners enjoy about their cars. EVs are economical: Even with gasoline prices falling, Consumer Reports recently estimated operating costs of a Nissan LEAF in the United States at 3.5 cents a mile, compared with 11.9 cents for a subcompact gasoline car or 8.6 cents for a hybrid. EV owners typically save on their insurance policies, because insurers view EV drivers as a lower risk.

Nismo GT-R poised to be fastest Nissan ever

For almost every year since the Nissan GT-R first debuted, Nissan has been figuring out how to cram more power under the hood or give it 911-like quickness around the Nürburgring. Looking to create a brand image for its performance arm, we already knew that a hotter, Nismo-branded GT-R was in the works, but it seems some details may have leaked regarding this new Nismo GT-R.
While little has been spoken of this Super GT-R since February, Top Gear is reporting that Nismo is planning to make improvements to the coupe's power, handing and styling - three things that we're sure few have complained about since 2009. What could this mean for the GT-R? According to the article, Nismo could be looking to raise horsepower from the current 545-hp mark to more than 570 hp, and handling upgrades could give the car a 'Ring lap time of seven minutes and 22 seconds, which as Top Gear points out, is four seconds quicker than the new 911 GT3.