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Honda execs take 'quality-related' pay cut after Fit Hybrid's 5th recall

Generally, the best policy in life is to admit when you're wrong and just accept the consequences. However, that attitude generally seems to be a bit less common in the world of business - at least without some government or legal prodding. So, it's especially surprising to learn that top Honda executives in Japan are taking a pay cut for the next three months following the fifth recall of the Fit Hybrid (pictured above) in the last 12 months.
According to Reuters, Chief Executive Takanobu Ito is taking a 20-percent pay cut to make amends for the quality issues. Also, 12 other high-ranking executives are taking 10 percent drops in their salaries. In addition to those temporary changes, Honda is creating a new position in charge of monitoring vehicle quality.
The latest recall fixes "noise-related defects," according to Reuters, on both the hybrid and naturally aspirated versions of the Fit, both variants of the Vezel (the sibling to the future HR-V in the US) and the N-WGN. There have also been three recalls for problems with the hybrid's seven-speed dual-clutch transmission. None of them have caused reported injuries or deaths, and these issues haven't affected US models.

Toyota, Honda, Mazda and Nissan recall 3.4 million vehicles for faulty airbags

Most vehicle recalls that take place these days are a result of some problem that happens during the manufacturing process by the automaker, but as we see here, parts suppliers can also factor in to problematic safety issues. Automotive News is reporting that a total of 3.4 million vehicles produced by Japanese automakers between 2000 and 2004 are being recalled globally due to faulty airbags produced by an outside supplier, Takata Corp.
According to the report, vehicles from Toyota, Honda, Nissan and Mazda are being recalled because of passenger front airbags that do not inflate properly. Globally, Toyota is said to be recalling around 1.73 million cars including 510,000 in the US composed of Toyota Corolla, Matrix, Sequoia and Tundra as well as the Lexus SC430 for the 2001 through 2003 model years; this is the second time this year the 2003 Corolla and Matrix have been recalled for an airbag problem. Honda is recalling 1.14 million models, Nissan another 480,000 and Mazda 45,463. The article says that Takata supplied faulty airbags to non-Japanese automakers, but it did not specify which ones.
Honda and Toyota have released information on their own websites about the recall, while Nissan and Mazda have not yet commented. Read official press releases from Honda and Toyota, below, and look for updates as we have word from the others.

Japan could consolidate to three automakers by 2020

Sergio Marchionne might see his dream of big mergers in the auto industry become a reality, and an analyst thinks Japan is a likely place for consolidation to happen. Takaki Nakanishi from Jefferies Group LLC tells Bloomberg the country's car market could combine to just three or fewer major players by 2020, from seven today. "To have one or two carmakers in a country is not only natural, but also helpful to their competitiveness," Nakanishi told Bloomberg. "Japan has just too many and the resources have been too spread out. It's a natural trend to consolidate and reduce some of the wasted resources." Nakanishi's argument echoes Marchionne's reasons to push for a merger between FCA and General Motors. Automakers spend billions on research and development, but their competitors also invest money to create the same solutions. Consolidating could conceivably put that R&D money into new avenues. "In today's global marketplace, it is increasingly difficult for automakers to compete in lower volume segments like sports cars, hydrogen fuel cells, or electrified vehicles on their own," Ed Kim, vice president of Industry Analysis at AutoPacific, told Autoblog. Even without mergers, these are the areas where Japanese automakers already have partners for development. Kim cited examples like Toyota and Subaru's work on the BRZ and FR-S and its collaboration with BMW on a forthcoming sports car. Honda and GM have also reportedly deepened their cooperation on green car tech. After Toyota's recent buyout of previous partner Daihatsu, Nakanishi agrees with rumors that the automotive giant could next pursue Suzuki. He sees them like a courting couple. "For Suzuki, it's like they're just starting to exchange diaries and have yet to hold hands. When Toyota's starts to hold 5 percent of Suzuki's shares, this will be like finally touching fingertips," Nakanishi told Bloomberg. "I absolutely do believe that we are not finished seeing consolidation in Japan," Kim told Autoblog. Rising development costs to meet tougher emissions regulations make it hard for minor players in the market to remain competitive. "The smaller automakers like Suzuki, Mazda, and Mitsubishi are challenged to make it on their own in the global marketplace. Consolidation for them may be inevitable." Related Video: