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Toyota raises Japanese base wages for first time since 2008

Toyota is on track for record profits, and in return, its Japanese workers are receiving their first increase in base wages since 2008, plus higher pay based on seniority and a larger bonus for 2014. The Japanese automaker predicts the average laborer will net a 2.9 percent income gain.
The average Toyota employee will earn 2,700 yen ($26.28) more each month, a 0.8 percent increase from last year. Workers will also receive about 7,300 yen ($71.09) more monthly based on seniority and promotions. Finally, the company's union pushed through a median bonus of 2.44 million yen ($23,768) for 2014, the highest in 6 years.
The pay boost comes as Toyota forecasts a record 1.9-trillion yen ($18.5 billion) profit for the fiscal year ending on March 31, according to Bloomberg. It has been helped by the Japanese government's efforts to weaken the yen on international markets and expand inflation. Prime Minister Shinzo Abe has been asking businesses to increase compensation to end years of deflation and offset upcoming higher sales taxes. Honda and Nissan have also raised their wages there in recent months.

Honda exec says US market near capacity, could hurt subprime buyers

Is there a point in the US auto industry where companies should start considering the welfare of their customers ahead of selling more cars? American Honda Executive Vice President of Sales John Mendel thinks that level exists, and we may be getting very close to it.
According to Automotive News, Mendel believes that finding more customers in the market could require pursuing subprime buyers and offering longer-term loans. However, he refuses to use those tactics. While selling models this way can improve things briefly, the strategies hurt resale prices and lower vehicle profits over time. The company won't do "stupid things in the short-term that damage the person who bought yesterday," he said to Automotive News. "It's a very, very short-term tactic especially in the subprime area."
American Honda, which combines the Acura and Honda brands, has seen market share decline from 9.7 percent to 9.1 percent through July 2014, according to Automotive News, and Autoblog's By the Numbers stats showed it posted falling sales in five of the seven months with data this year. Though, Mendel claims that was partially because the company focused on retail sales over fleets. The delays of the launches for the Honda Fit and Acura TLX likely didn't help either.

Honda series follows restoration of its first car in the US

We all have to start somewhere, and for Honda's automotive business in the US the beginning was a green N600. The company brought a handful of the hatchbacks into the US to test the waters. Now, N600 expert Tim Mings has started restoring that special Honda for a weekly documentary series. Mings reckons he has worked on a 1,000 or more N600s and Z600s, but none of them have been as special as this car. He owned it for several years before cleaning off the serial number, which showed this was the very first example in the US. According to Mings, of the first 50 N600s that Honda brought to the US, only three still survive. The N600 boasted a 600cc two-cylinder engine that could rev to 9,000 rpm. Today, you can see a modern interpretation of its boxy design in Honda's N-One Kei-class car in Japan. Honda's documentary series will follow every step of the restoration process, and the completed N600 will go to the company's museum. We can't wait to see how the car looks after Mings brings it back to life. Related Video: HONDA CELEBRATES AUTOMOTIVE HERITAGE AND HISTORY IN THE U.S. IN NEW ONLINE SERIES LAUNCHING ON SOCIAL MEDIA "Serial One," new online documentary series features the painstaking restoration of the very first Honda N600 in the U.S Fans can follow the journey as acclaimed N600 mechanic Tim Mings brings the vehicle back to life Mar 16, 2016 - TORRANCE, Calif. -- The story of American Honda's first N600 vehicle in the United States in 1969 unfolds through the eyes of a determined mechanic, taking viewers on a journey to restore the first American Honda VIN, "Serial One." Launching today on Honda's social channels and at serialone.com, Honda's new weekly online content series pays homage to the company's roots in America and reflects the challenging spirit of Honda by featuring an in-depth look at the step-by-step restoration of the N600 by Los Angeles-based mechanic Tim Mings. In 1969, after a decade of growth that led to Honda becoming the top-selling motorcycle manufacturer in America and the world, Honda embarked on a new mission to sell cars in the United States. Honda entered the U.S. market with the Honda N600, which was just 122 inches in length and could actually fit between the wheels of some full size vehicles in America, which measured up to 225 inches in length and weighed nearly twice as much as the NSX. The N600 had an all-alloy engine that could achieve 9000 rpm and reach speeds of 81 miles per hour.