There has been a lot of, well, criticism, of Honda on these pages lately, including allegations that Honda had lost it. So far, more that fifty of the Best & Brightest offered advice on how to save the company from certain annihilation.
Today’s Nikkei says “domo arigato gozaimashita” for all the support, and runs a different story: “Honda Motor Co. has emerged from the economic turmoil at the head of the pack, thanks in good part to a nimble production network that can meet the latest consumer preferences at relatively low cost.” Here is why. (Read More…)
Toyota plans to roughly double its global production of hybrid vehicles to 1 million units in 2011, The Nikkei writes. Toyota alerted parts suppliers that it intends to roll out about 800,000 hybrids domestically in 2010, around 900,000 in 2011 and roughly 1.1 million in 2012. (Read More…)
Yesterday, Volkswagen became the Suzuki’s top shareholder. VW transferred $2.4b in return for a 19.9 percent stake in Suzuki. Suzuki turned around immediately and used $1b of the money received to buy stock in Volkswagen. Consider the couple as intertwined.
With the marriage sealed, both companies went right to work. (Read More…)
The nerve, the nerve: U.S. Secretary of State Hillary Clinton told Japanese Foreign Minister Katsuya Okada when they met – halfway in Hawaii, so that both had to travel – on Tuesday “that concerns are rising in the U.S. Congress” about Japan’s cash for clunkers incentive scheme, Reuters reports.
As if there aren’t other pressing problems. Such as the economy, global warming, saving the whales, or saving the Marines on Okinawa. (Well, they discussed the Marines. Inconclusively.)
Under the belated Japanese C4C scheme, consumers get up to $2,800 if they trade in their 13 year or older car for new vehicle that meets the 2010 fuel economy standard of 35.5 mpg. So far, so good. (Read More…)
Volkswagen and Suzuki aren’t wasting any time in consummating their marriage. VW is thinking of providing its hybrid technology to Suzuki. This is what Ulrich Hackenberg, head of VW’s Forschung und Entwicklung (R&D) told The Nikkei [sub] on the sidelines of the NAIAS in Detroit. As usual for a tight-lipped R&D guy, Hackenberg did not volunteer any details, timing or models.
Unusual for a usually tight-lipped R&D guy, Hackenberg said Suzuki has excellent technologies, including low-cost production know-how, and that the two firms have a lot to learn from each other. He also said VW will support its Japanese partner in China, where Volkswagen has a commanding market share, and where Suzuki needs help.
“What Volkswagen hybrid technology?” you will surely ask. (Read More…)
According to Japan’s JADA dealer association data, quoted by the Nikkei [sub], Toyota’s Prius became the first hybrid to take the prime spot on Japan’s annual sales ranking of all cars, including minivehicles. 2009 Sales of the Prius jumped nearly 300 percent to 208,876 units. (Read More…)
Nissan Motor Co. failed to declare some $700m in income with the Japanese tax-san during a three-year period through March 2007, the Nikkei [sub] reports today.
The Tokyo Regional Taxation Bureau has sent Nissan an order to pay back taxes, including unspecified billions of Yen in penalties. Nissan has appealed. (Read More…)
Battered auto parts makers in Japan are surviving on a diet of non-auto parts.
Today’s Nikkei [sub] has it that companies like Toyoda Gosei,. NHK Spring Co. and other auto parts makers are earning an ever greater proportion of profits from electronics components and other businesses not related to cars. (Read More…)
Venezuela’s, well, President Hugo Chavez took a page out of the U.S. government’s playbook, and ordered Toyota’s local assembly plant to make more cars, pronto. If the Japanese don’t produce an adequate number of vehicles designed for rural areas, Chavez will expropriate Toyota and kick them out of Venezuela.
According to this morning’s indignant Nikkei [sub,] Chavez said his socialist government is going to apply strict quotas on the number and types of vehicles firms can produce. He ordered an immediate inspection of Toyota’s facilities to see how many “rustic vehicles” they are currently producing. (“Rustic,” not “rusty.”)
“They’ll have to fulfill (the quotas), and if not, they can get out,” said Chavez during a televised address. “We’ll bring in another company.” And what company would that be? (Read More…)
Unbeknownst to many, Toyota and Volkswagen had been pretty tight in Japan. Japanese Toyota dealers started selling VWs in 1992. Last year, about half of the 45,522 VWs sold in Japan moved through the shared dealer organization. This helped Volkswagen become Japan’s top import brand for nine years. (Which says a lot about Japan’s import market.) Not only did they share the dealers, Toyota actually has been the distributor for half of the VeeDubs sold in the Land of the Rising Sun. Can’t make stuff like this up.
Now, Volkswagen and Toyota signed the green form (nippophiles know that the green form is for divorce, brown is for marriage.) (Read More…)
Parts suppliers in Japan had near death experiences when they opened their Nikkei [sub] this morning. Parts suppliers in China and the rest of the world suffered heart and respiratory problems when the news of Toyota’s latest plan hit the news-wires. (Read More…)
Come 2010, U.S. customers will storm the few remaining dealerships. GM will go public with a healthy pop that makes the taxpayer rich. The good old times will be back. The Japanese don’t think so. (Read More…)
For some weeks, we have been following the steamy nampa between Japanese and European auto makers with more than prurient interest. First Mitsubishi and PSA (TBD), then Suzuki and VW (marriage consummated.) Now what? Now who? Suddenly, all eyes are on Mazda, the former wallflower of Nipponese car makers. (Read More…)
Freshly wedded Suzuki and Volkswagen are not losing any time in consummating the marriage. Joint work will start immediately, or rather on January 10, 2010 said Suzuki Chief Executive Osamu Suzuki to Reuters. With that date, Suzuki-San is already bowing to Wolfsburg’s ingrained culture. As of this coming Friday evening, everybody who is somebody at VW will be off skiing in Zermatt or soaking in the surf of the Maledives, not to return before January 10th. No linkup with Suzuki will change that. (Read More…)
You’ve seen nothing yet, thinks Japan’s Nikkei. “The latest round of partnerships is widely seen as just the beginning of a major shakeup of the automaking industry,” says the paper that is usually well informed about these matters.
“Both Mitsubishi and Suzuki should take cues from Nissan Motor Co, which was rescued from the brink of bankruptcy in 1999 by French firm Renault SA.” says the Nikkei: Translation: Don’t just have small minority share and swap deals. Sell majority control to partners with deep pockets. And get ready for a serious battle for world market domination. (Read More…)
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