Japanese auto industry

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'One of World's Most Powerful Auto Bosses' Is Arrested

Nissan chair Carlos Ghosn to be removed over 'significant misconduct'

(Newser) - Nissan Motor Co. says it will move to oust chairman Carlos Ghosn after a months-long investigation uncovered "significant misconduct" including the under-reporting of his income by millions, reports the AP . The Japanese automaker says the probe was spurred by a whistleblower, and that the situation also allegedly involves Representative... More »

China, Japan Slam Trump Move on Auto Tariffs

Beijing will 'firmly defend' its rights

(Newser) - On Thursday, China and Japan both condemned the Trump administration's decision to launch an investigation into whether tariffs are needed on imports of vehicles and automotive parts into the United States. China's Commerce Ministry said Beijing would "firmly defend" its rights and interests against what it called... More »

Toyota's New Joint Venture With Mazda: $1.6B US Factory

The move could create up to 4K jobs

(Newser) - Japanese automakers Toyota and Mazda said Friday they plan to spend $1.6 billion to set up a joint-venture auto manufacturing plant in the US—a move that will create up to 4,000 jobs. The plant will have an annual production capacity of about 300,000 vehicles and will... More »

Almost 3M Cars Recalled Over Exploding Airbags

Honda, Nissan, Mazda all expand earlier recalls

(Newser) - Honda, Mazda, and Nissan are recalling millions of vehicles globally for defective airbags manufactured by supplier Takata Corp. that could possibly explode, though no accidents have been reported related to the recalls. Honda recalled 2.03 million vehicles for the airbag problem, including 1.02 million in North America and... More »

Toyota Not to Blame in Calif. Crash Death: Court

Fellow driver owes $10M in damages

(Newser) - A key case in Toyota's sudden-acceleration saga has been found in the car maker's favor. A jury found that Toyota wasn't to blame in the death of Noriko Uno, 66, who lost control of her 2006 Camry in a 2009 incident, Bloomberg reports. Toyota opponents held that... More »

Toyota, Honda Recall 3.4M Vehicles in Airbag Failure

Nissan, Mazda are also involved

(Newser) - An airbag issue is prompting Toyota, Honda, Nissan, and Mazda to recall some 3.4 million vehicles. Passenger-side airbag inflators are at risk of exploding and blasting out plastic pieces, the AP reports, while a rep for Japanese airbag maker Takata warns Reuters that driver-side airbags may fail to inflate.... More »

Suzuki Pulls Out of US Market

Company turns to India after weak sales in America

(Newser) - Sayonara, Suzuki: The Japanese automaker announced today that it will cease US sales of its cars after its current inventory runs out. The company, which has been selling vehicles in the States since 1985, filed for bankruptcy protection in California as part of the move, reports Bloomberg . Suzuki, which maintained... More »

Japan's Auto Sales Plummet 51%

Quake-prompted parts shortage leads to largest plunge in history

(Newser) - Japan saw auto sales drop 51% in April compared to sales a year earlier, the biggest plunge since record-keeping began in 1968. The earthquake- and tsunami-prompted parts shortage squeezed production and dealers’ supplies; just 108,824 vehicles sold last month. Toyota was the hardest-hit, with sales sinking 68.7% to... More »

Toyota to Recall 270K Cars Over Faulty Engines

High-end models can stall while moving

(Newser) - Toyota is preparing yet another recall, this time because of engine problems with it's top-end sedans. The company says Crown and seven models of Lexus suffer a valve-spring problem that can cause the engine to stall while the vehicle is moving, the AP reports. No official recall has been announced... More »

Toyota Boss Apologizes for Recalls

Says company will announce steps soon on the Prius

(Newser) - Toyota's president apologized today to customers for the massive recalls and safety concerns about his company's cars. “I deeply regret that I caused concern among so many people,” said Akio Toyoda, grandson of the company's founder. "We will do our utmost to regain the trust of our... More »

Toyota Waffles on Prius Brake Recall

Automaker's woes keep mounting; $2B pricetag likely

(Newser) - Toyota has yet to decide whether to issue a recall of Prius hybrids over potential trouble with the car's brakes, but it's just the latest snag to hit the automaker. The company acknowledged yesterday that the brakes can stick briefly in certain circumstances, generally on bumpy or slippery roads, reports... More »

US Clears Toyota Fix for Gas Pedals

Dealers should get replacement parts by end of next week

(Newser) - Toyota has received clearance from federal regulators on a fix for the company's sticky gas pedals, say three people briefed on the matter. Two dealers said Toyota plans to make the announcement Monday morning. Dealers could get parts as early as Thursday or Friday. More »

Getting Too Big, Too Fast Was Toyota's Downfall

Company broke its own rules in the race to No. 1

(Newser) - Execs at rival firms used to puzzle over how Toyota could possibly expand so fast while maintaining quality. As the recall crisis continues growing, they know now it couldn't, writes Paul Ingrassia. Toyota sensed weakness among US automakers and opportunity in emerging markets over the last decade and badly overstretched... More »

Toyota Halts Sales of 8 Models Over Gas Pedals

Company also halts production at 5 plants

(Newser) - Toyota is suspending US sales of eight recalled vehicle models to fix accelerator pedals that stick. As part of the plan, Toyota is halting production at five manufacturing facilities for the week of Feb. 1. The sales suspension includes the 2009-2010 RAV4, the 2009-2010 Corolla, the 2009-2010 Matrix, the 2005-2010... More »

Cars Replacing Clunkers Are Mostly Japanese

(Newser) - The "cash for clunkers" program might be a boon for car dealers, but for American automakers the news isn't so good—four of the five top-selling cars in the program are Japanese. While the Ford Focus is the No. 1 seller, Toyota and Honda occupy the next four spots.... More »

Big Three See Bumpy Road With 20-Somethings

Demographic key to rebuilding for US automakers

(Newser) - Detroit automakers face a hard road when it comes to Generation Y—consumers aged 22-32 whose business is crucial to securing the firms' futures, BusinessWeek reports. Their boomer parents broke from tradition by shifting to Japanese cars, and Gen Y is following in those footsteps. Detroit “simply must do... More »

Toyota Forecasts First-Ever Annual Loss

$8.6B loss is far worse than anticipated

(Newser) - Toyota forecast a 2009 loss of $8.6 billion, its first annual loss ever and one far deeper than anticipated, Reuters reports. Only last year Toyota posted record profits and climbed past GM to become the world's largest car maker, but the global downturn in the auto industry and a... More »

Nissan Slashing 20,000 Jobs

First Japanese automaker to move production from Japan and soaring yen

(Newser) - Nissan will cut 20,000 jobs worldwide by next year and move production from Japan and its soaring yen, reports the Wall Street Journal. Reeling from a massive $900 million loss last quarter, Nissan also announced it will slash management, seek public assistance and suspend its 5% annual growth goal... More »

Toyota's Losses Will Triple

First loss in seven decades multiplies as market deteriorates

(Newser) - Toyota now expects its full-year operating loss to be three times larger than the $1.6 billion it forecast in December, the New York Times reports. The company expects to lose $5 billion for the fiscal year through March 31 as world automobile demand deteriorates. Toyota, which last year overtook... More »

Japan Throws $16.7B Lifeline

The bailout aims to help smaller business outside of banking or corporate sectors

(Newser) - Following in the footsteps of America and Europe, Japan is offering $16.7 billion to companies threatened by the financial crisis, moving outside the banking sector to take equity stakes in smaller companies that otherwise can't find financing, the Financial Times reports. The 1.5 trillion yen package aims to... More »

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