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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

Suzuki recalls nearly 61k SX4s and Kizashis for shifting out of Park

Suzuki has discovered an issue with the gearshift lever on some of its vehicles, and has issued a recall in coordination with the National Highway Traffic Safety Administration to address the problem. The issue affects the the 2010-2013 SX4 and Kizashi models fitted with automatic transmissions manufactured between specific dates in 2009 to 2012. In the affected vehicles, the shifter could slide out of the Park position without the brake pedal being depressed, which needless to say could lead to the vehicle unexpectedly rolling away. All told, the recall affects an estimated 60,823 vehicles, the owners of which can expect to head from the manufacturer to bring their Suzukis in to their local dealership to have the shift selector assembly replaced entirely, starting January 19. Since Suzuki no longer sells new cars in the US, owners looking for dealers and authorized service points are advised to check out the company's service provider website tool here. RECALL Subject : Shift Selector Moved From Park Report Receipt Date: DEC 22, 2014 NHTSA Campaign Number: 14V811000 Component(s): POWER TRAIN Potential Number of Units Affected: 60,823 Manufacturer: Suzuki Motor of America, Inc. SUMMARY: Suzuki Motor of America, Inc. (Suzuki) is recalling certain model year 2010-2013 SX4 vehicles manufactured July 16, 2009, to November 1, 2012, and 2010-2013 Kizashi vehicles manufactured October 13, 2009, to October 31, 2012. The shift selector can be moved out of the "Park" position without depressing the brake pedal. CONSEQUENCE: If the shift selector is moved out of the "Park" position while the brake pedal is not depressed, the vehicle may unexpectedly roll, increasing the risk of a vehicle crash. REMEDY: Suzuki will notify owners, and dealers will replace the shift selector assembly, free of charge. The recall is expected to begin January 19, 2015. Owners may contact Suzuki customer service at 1-714-996-7040. Suzuki's number for this recall is VL. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov. Featured Gallery 2011 Suzuki Kizashi Sport View 20 Photos News Source: National Highway Traffic Safety AdministrationImage Credit: Suzuki Recalls Suzuki Safety Crossover Hatchback Sedan suzuki sx4 suzuki kizashi

Osamu Suzuki announces retirement at age 91

TOKYO — Suzuki's 91-year-old chairman, Osamu Suzuki, announced he will retire in June, stepping aside for a new leader to navigate the shift to electric cars and fight off competition from tech firms such as Tesla and Apple. The chairman, after heading for more than four decades the company that his wife's grandfather founded, is leaving his son Toshihiro Suzuki, already president and CEO, to hold the reins of the company. Osamu told reporters on Wednesday he decided to retire after the company welcomed its 100th anniversary last year and its new management plan won approval. But he said he will "remain active" as an adviser. "I will neither run away nor hide," the patriarch said, who has repeatedly declared in the past he will be a "lifelong non-retiree." The company also announced on Wednesday it will invest one trillion yen ($9.45 billion), mostly on electrification technology, over five years. The younger Suzuki said the company needed to respond to a global push towards lower emissions. "Carbon neutral is the focus now. Suzuki must not fall behind this global trend," he said. The announcement by Japan's fourth-biggest automaker comes less than a week after rival Honda appointed a new CEO, who said he would consider alliances to make bold decisions. Carmakers, particularly smaller players such as Suzuki, are seen at a disadvantage due to the huge cost of developing EVs and technologies such as autonomous driving. Suzuki, alongside other automakers such as Mazda and Subaru, tied up with Toyota in 2019 to slash development and manufacturing costs. Osamu Suzuki, who joined Suzuki Motor in 1958, became president in 1978 and doubled as chairman in 2000. During his tenure, the company solidified its presence as the top maker of compact cars. He spearheaded the company's decision to enter its key Indian market in 1983. Maruti Suzuki, which the carmaker owns a majority stake in, is India's top carmaker, selling every second car in the country. In 2016, Suzuki stepped down as CEO to take responsibility for the firm's use of incorrect testing methods to calculate vehicle mileage, but he remained chairman. Osamu, who waved and said "bye-bye" at the end of Wednesday's news conference, will be appointed as senior adviser upon retirement.