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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

2015 Subaru WRX leaks out ahead of debut [w/video]

The car you see above could, possibly, be the 2015 Subaru WRX, a car that isn't supposed to reach the public eye until next week's Los Angeles Auto Show. The leaked image has been circulating around the web, along with a brief teaser video of the new sports sedan (which you can see below).
The image, which AutoWeek reports may be (probably) a render, appeared on the Clubrz Facebook page, a Subaru fan group. It does fit somewhat with the teaser image we showed you yesterday, while featuring certain styling cues from the WRX Concept shown at the last New York Auto Show.
Now, we'd advise you take this with an appropriately sized grain of salt. We won't know for certain what the next WRX looks like until we're parked in an uncomfortable chair at the LA Convention Center. Still, take a look up top and let us know if the new WRX - which, we'll point out, has neither gold wheels, a big wing or World Rally Blue paint - fits with what you wanted to see. We've also got a very short teaser of the car that plays on the teaser image posted yesterday, which you can see by scrolling down.

Subaru Legacy Concept has us getting our hopes up

It happens all the time. We get excited about a really attractive Subaru concept, and then the production car comes out and, well, "disappointed" isn't a strong enough word. (Compare that hot Impreza concept to the final production car.) So while we're hopeful that this new Legacy concept previews something sleek for Subaru, allow us to be fully on record as not getting our hopes up.
Anyway, let's talk about how good this car looks. From the front, comparisons to the Buick Regal GS are warranted, but from all other angles, it has a very four-door coupe-like shape. The concept rides on 21-inch wheels with bulging wheel arches that Subaru says hints at the car's all-wheel-drive system (standard Subaru fare, BRZ aside).
As for what exactly this concept previews, the safe guess is, of course, the next-generation Legacy midsize sedan. And while we'll keep our fingers crossed for a sweet-looking production sedan to come out of Fuji Heavy in the near future, it's safe to say we're still skeptical.