Asia

Mitsubishi promises new products

12:01 am U.S. ET | Nov. 17, 2014
Mitsubishi, amid a remarkable sales rebound in the United States, is targeting its first profit in North America since the global financial crisis. Now CEO Osamu Masuko pledges to build on the company's momentum with a badly needed injection of fresh product.... Read More »

 

Hot sales put Subaru ahead of plan

12:01 am U.S. ET | Nov. 17, 2014
In May, Yasuyuki Yoshinaga, president of Subaru maker Fuji Heavy Industries, unveiled a business plan to guide the company through 2020. But Subaru's sales are rising so fast, he may have to roll out a new plan much sooner than expected.... Read More »

 

Confessions of a price fixer

6:00 pm U.S. ET | Nov. 16, 2014
As one after another Japanese auto supplier gets snagged for price fixing, it is the unwritten rule, say insiders and lawyers, that middle managers sometimes take the fall for superiors and get rewarded for not airing the company's dirty laundry in public court. This is one such story.... Read More »

 

Supplier upheaval fueled price fixing

6:00 pm U.S. ET | Nov. 16, 2014
To hear auto industry insiders in Japan, the country's problems with bid rigging began to spiral in the early 2000s. Or, more specifically, with the arrival of Carlos Ghosn, the cost-cutting CEO who parachuted into a nearly bankrupt Nissan Motor Co. and blew up the carmaker's ossified supplier network.... Read More »

 

SLICING THE PIE

At 'bid meetings,' suppliers aimed to maintain one another's market share

6:00 pm U.S. ET | Nov. 16, 2014
When Japanese auto suppliers schemed to fix prices, it was as much about protecting market share as pumping up profits, an industry insider said. In textbook Japanese fashion, in which consensus rule trumped individual agendas, rival companies agreed to protect the status quo, lest someone was pushed out altogether.... Read More »

 

Takata's chairman a no-show as airbag crisis endangers dynasty

11:06 am U.S. ET | Nov. 11, 2014
Takata Chairman Shigehisa Takada’s failure to come forward and address an airbag crisis ensnaring the world’s biggest automakers risks shaking investor confidence in the 81-year-old manufacturer’s prospects.... Read More »

 

Hyundai Motor, Kia to spend $616 million to buy back shares

7:14 am U.S. ET | Nov. 11, 2014
Hyundai Motor and Kia Motors will buy back a combined 670 billion won ($616 million) of stock after their purchase of a Seoul property for three times the assessed price spurred a sell-off.... Read More »

 

Want to test drive the Lexus RC? Anyone?

12:01 am U.S. ET | Nov. 10, 2014
Well, this is embarrassing. For Toyota, as well as Japan's so-called automotive press corps. Toyota notified journalists this month that a long-scheduled new-car test-drive event was scrubbed -- for lack of interest.... Read More »

 

Stop the Datsun Go, safety group requests

12:01 am U.S. ET | Nov. 10, 2014
Nissan's budget-priced Datsun Go hatchback has sold poorly since it debuted with much fanfare in India last March, and a devastating new assessment of the car's crash safety surely won't help.... Read More »

 

MASAMICHI KOGAI, CEO, MAZDA MOTOR CORP.

Mazda chief: Profit trumps volume, market share

12:01 am U.S. ET | Nov. 10, 2014
In June, Masamichi Kogai marked his first anniversary as Mazda Motor Corp. CEO by reaching the company's 2016 operating-profit target two years ahead of schedule. But tougher competition is forcing him to scale back earlier, bullish sales goals. Kogai spoke with Asia Editor Hans Greimel.... Read More »

 

Fiat's Turkish JV will invest $1 billion to build Bravo successor

Nov. 6, 2014 11:22 CET
Fiat's Turkish joint venture, Tofas, will invest $1 billion to produce a family of compact cars to replace the Bravo in Europe. The family will include a hatchback, sedan and station wagon.... Read More »

 

Hyundai investor calls land deal ‘an embarrassment’

7:28 am U.S. ET | Nov. 3, 2014
Skagen Funds, the biggest holder of Hyundai Motor Co. preferred shares, is pushing the automaker to improve corporate governance after a real estate purchase for three times the property’s assessed value sparked a rout in the stock.... Read More »

 

Kia Motors says president resigned over prolonged wage disputes

7:11 am U.S. ET | Oct. 31, 2014
Kia Motors said its president, Lee Sam-ung, has resigned to take responsibility for "enormous" production losses caused by recent strikes by its South Korean union during wage talks.... Read More »

 

Mazda, Fuji Heavy post big quarterly profit gains on weak yen

6:49 am U.S. ET | Oct. 31, 2014
Mazda Motor and Subaru's parent company Fuji Heavy Industries today posted rosy second-quarter profit growth as a weak yen made their exports more lucrative.... Read More »

 

Hyundai plans to take on Toyota's Prius with new hybrid model

9:01 am U.S. ET | Oct. 30, 2014
South Korea's Hyundai Motor said it is developing its first dedicated gas-electric car that would go up against Toyota's best-selling Prius. The move will help it diversify its eco-friendly vehicle line-up and hedge its bets in next-generation green technology to meet stricter emission regulations in key markets.... Read More »

 

Mitsubishi's net rises 8 percent as U.S. sales soar

3:28 pm U.S. ET | Oct. 29, 2014
Mitsubishi Motors said net income rose 8 percent in the latest quarter, aided by results in North America.... Read More »

 

Infotainment glitches haunt automakers in Consumer Reports' reliability survey

12:45 pm U.S. ET | Oct. 27, 2014
Infotainment hiccups nagged the industry in the Consumer Reports 2014 Annual Auto Reliability Survey, while problems with the Q50 caused Infiniti's ranking to plummet.... Read More »

 

Honda, after 5th Fit recall, appoints first quality czar; top execs take pay cut

6:28 am U.S. ET | Oct. 23, 2014
In an unprecedented move, Honda, announcing its fifth Fit recall in 12 months, appointed a quality czar to clamp down on problems. Senior executives will also take pay cuts for three months to take responsibility for the recall-plagued car.... Read More »

 

Toyota executive backs Takata’s handling of airbag crisis

6:39 am U.S. ET | Oct. 22, 2014
A top Toyota executive offered support for how airbag maker Takata is handling a safety crisis affecting millions of vehicles, days after expanding its own recalls for the second time in four months.... Read More »

 

Jeep first U.S. brand to crack Top 10 in Japan's Car of Year Award

9:51 am U.S. ET | Oct. 16, 2014
Jeep has made history by becoming the first brand from the United States to crack the top 10 in this country's Car of the Year Award. The honor came down this week for the Jeep Cherokee, which was tapped as one of the 10 Best Cars for 2014-15. It was a first for any American nameplate.... Read More »

 

Former Showa exec indicted in U.S. price-fixing probe

12:07 pm U.S. ET | Oct. 16, 2014
A former executive of Japanese auto parts supplier Showa has been indicted by a federal grand jury in Cincinnati on a charge of conspiring to fix the prices of parts sold to American Honda and others.... Read More »

 

Hyundai Motor to use cash to fund $10 billion land deal

7:17 am U.S. ET | Oct. 16, 2014
Hyundai Motor and its two affiliates will use cash to fund their 10.6 trillion won ($10 billion) purchase for a land site in Seoul, raising concern the companies will reduce shareholder payouts.... Read More »

 

Hitachi Automotive readies new autonomous driving technology

10:57 am U.S. ET | Oct. 15, 2014
Hitachi Automotive Systems is readying a suite of new autonomous driving technologies, including a no-hands self-parking function it plans to market in 2016. The systems, unveiled last week at the supplier’s proving ground in northern Japan, entail precrash braking, advanced adaptive cruise control and vehicle stability control for electric vehicles.... Read More »

 

Ghosn finds Datsun a tough sell -- even at $5,000

6:48 am U.S. ET | Oct. 14, 2014
In July last year, as Nissan prepared to bring Datsun out of a decades-long retirement, the company scoffed at the idea that the budget brand could follow Tata's $2,500 Nano in becoming a flop.... Read More »

 

Toyota supplier celebrates Nobel Prize winners

7:34 am U.S. ET | Oct. 10, 2014
A Toyota-affiliated supplier is applauding two of its researchers as winners of this year's Nobel Prize in Physics.... Read More »

 

 
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