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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

New Suzuki Swift Sport to be lighter and torquier

The Suzuki Swift Sport has been one of the most interesting hot hatches of the last decade, well at least outside the United States. Its first iteration was released in 2005, leaving behind its crummy Geo Metro guise in favor of something more in line dynamically with the segment best. Though it may have been an underdog from day one, the Swift Sport proved itself to be both fun and reliable The new car promises to up the ante with a stiffer structure and a footprint increased courtesy a 20 mm-longer wheelbase and a stance that's 40 mm wider and 15 mm lower. Power comes from a turbocharged 1.4-liter four-cylinder Suzuki cheekily calls the Boosterjet, ditching the old 1.6-liter naturally aspirated inline-4. The downsized, intercooled 138-horsepower turbo engine gives the Swift Sport only four more horsepower than the old unit, but there is a lot more torque available and at lower revs. Another major improvement is a weight loss of nearly 180 pounds -- definitely a big deal in a small car like this -- as the new model tips the scales at less than 2,140 lbs. Suzuki says the feel of the six-speed manual shifter has been improved, too. "It's lighter, sharper, quicker. It's more aggressive and emotive, but we've also refined the elements that make it practical to use every day," said Suzuki chief engineer Masao Kobori. "The clutch feel, the manual transmission shift throw, the seats and steering wheel -- everything that puts the driver at the heart of the experience." Sounds neat, though with Suzuki gone from the U.S. market, it'll remain forbidden fruit for American customers. On the other hand, you can apparently rent these in Germany. Nurburgring rental anyone? Related Video:

Suzuki posts 46% drop in first-quarter profit on slowing India demand

TOKYO — Suzuki on Monday reported a 46.2% fall in first-quarter operating profit, hurt by lower output at home as it improves its inspection systems, and falling demand in India, its biggest market. Japan's fourth-largest automaker posted an operating profit of 62.7 billion yen (GBP487 million) for the April-June quarter, down from 116.5 billion yen a year earlier and below a mean forecast of 69.09 billion from eight analysts, according to Refinitiv. Suzuki reaffirmed its forecast for full-year operating profit to come in at 330 billion yen, up 1.7% from the year ended March 2019. Suzuki, known for its Swift and Baleno compact models, is bracing for subdued growth this year in India, where roughly one in two cars sold carries its brand. The company stuck to a forecast for vehicle sales to increase slightly on the year, but conceded that it may need to trim its forecasts in the coming months as slowing economic growth and stricter emissions standards could dent sales. Slowing profit growth could hamper its ability to invest in and develop lower-emissions vehicles and on-demand transportation services necessary to survive the technological upheaval currently underway in the global auto industry. The automaker has long acknowledged that it cannot shoulder the costs of developing electric vehicles and self-driving cars on its own, and has turned to Toyota to supply Suzuki vehicles with its gasoline hybrid systems.