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Mitsubishi to join alliance with Honda and Nissan, Nikkei reports

TOKYO — Japan's Mitsubishi Motors is set to join an alliance between Honda Motor and Nissan Motor, creating a tie-up between automakers with combined sales of more than 8 million vehicles, the Nikkei newspaper said on Sunday. Mitsubishi Motors, which is 34% owned by Nissan, will work with Honda and Nissan to finalize the details of their strategic partnership, Nikkei said, adding the three firms intend to standardize in-vehicle software that controls cars. Mitsubishi Motors declined to comment on the report, while a Nissan spokesperson would only say the report was not based on something either of the companies had announced. Spokespeople for Honda did not respond to a request for comment. The push comes as Nissan, Japan's third biggest automaker, has been steadily losing market share in its two largest markets, the United States and China, which together accounted for half of its global sales in the year to March. On Thursday, the company slashed its annual outlook after heavy discounting in the U.S. almost completely wiped out its first-quarter profit. Nissan and Honda said in March they were considering a strategic partnership to collaborate on producing electric vehicle components and artificial intelligence in automotive software platforms. Mitsubishi Motors is already part of a long-standing alliance with Nissan and France's Renault that the three automakers last year agreed to restructure, aiming for a downsized but more pragmatic and agile partnership. Separate collaboration between Nissan, Honda and Mitsubishi Motors could help Japan's automakers cut costs and beef up to battle tough competition in EVs, dominated by companies like China's BYD and Tesla. In China, the world's largest auto market, Japanese brands previously were strong but are now up against domestic automakers that have rapidly increased production and won over consumers with low-priced vehicles loaded with software.

Honda S660 proving popular with middle-age Japanese buyers

The S660 roadster has been a success so far for Honda. (At least, that is, insofar as a niche-market sports car limited to the Japanese Domestic Market can be considered a big seller.) It just hasn't resonated with the customers that the company expected. Honda revealed the S660 in concept form at the Tokyo Motor Show nearly two years ago, and subsequently put it into production. The convertible Kei car pays homage to models like the S500, S2000, and Beat. It packs a tiny 660cc three-cylinder engine mounted amidships and driving the rear wheels. Despite its connection to past models, the S660 features an entirely modern design that, along with its low price, was expected to appeal to younger buyers. But while Honda has already sold out all 8,600 examples it's slated to build this year, a surprising 80 percent of them have been snapped up by customers over the age of 40 who are mostly buying them as second cars. The development is not entirely isolated. As Bloomberg points out, the number of licensed drivers in Japan "under the age of 40 has fallen 46 percent over the last 13 years." Those are rather startling numbers that dwindle the market down for youth-oriented vehicles like the S660. Honda is expected to begin taking orders for next year's allocation of S660s in October. At that point, the company anticipates the average age of its customer base will drop. But with fewer young drivers on the road in Japan, it shouldn't expect it to drop by much.

Average transaction prices climb to a record $36,270 in January

The automotive sector made a hash of the numbers last month, a mess of pluses and minuses clogging the transaction-price charts according to Kelley Blue Book. The overall industry rose one percent, even though buyers bought fewer cars and light vehicles in January 2018 vs 2017 using the selling-day adjusted rate. Due to January transaction prices rising to $36,270, a record for January, the value of new vehicles sold climbed more than $1 billion compared to January 2017. KBB's transaction prices don't include customer incentives, which changes the complexion slightly; average incentive spending rose to just over ten percent. The average transaction price in December 2017 was $36,756, so January dropped a bit - nothing unexpected, with the month annually blamed for "January doldrums." More revealing is the fact that the average transaction price in January 2017 was $34,910. This year's plumped-up figure came courtesy of the continued shift to crossovers, SUVs, and light trucks, which shouldn't surprise anyone who's read an automotive blog in the past 20 years. That category comprised nearly 70 percent of new vehicle sales for the month. Some manufacturers profited more than others, though. Fiat Chrysler managed 12.8 percent fewer sales in January compared year-on-year, but the company's vehicles sold for $1,300 more. The Ford brand suffered a 6.3-percent dip in sales, but brand transaction prices increased $2,000, while a Lincoln sold for $8,700 more on average. General Motors sold more cars and sold them for more money; overall GM transaction prices rose four percent, or $1,270, while a GMC traded hands for seven-percent more than in January 2017 and a Cadillac got $2,300 more on average. Of KBB's listed automakers, the Volkswagen Group got the most of out its customers, transaction prices rising at the German automaker by 5.6 percent to $42,243 in January 2018 compared to a year earlier. American Honda followed with a 4.3-percent increase to $28,991, GM in third at 4.1 percent to $40,313. Find your next car at Autoblog using our new and used car listings or the Car Finder tool. Broken out by segment, minivans rocked the table, transaction prices leaping by 7.9 percent to $35,380 compared to January a year earlier. Luxury cars boasted the next-highest rise, at 3.6 percent to $58,533.