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Japanese automakers welcome North American trade deal, fear what's next

TOKYO — Toyota, Nissan and Mazda welcomed on Tuesday the revised North America trade deal that left Japanese automakers unscathed, but they may face a bumpy ride when Washington and Tokyo hold new talks on over $40 billion of annual U.S. auto imports from Japan. The United States and Canada reached an agreement on Sunday to update the 1994 North American Free Trade Agreement after Washington had forged a separate trade deal with Mexico in August. The updated deal effectively maintains the auto industry's current footprint in North America, and spares Canada and Mexico from the prospect of U.S. national security tariffs on their vehicles. Mazda, which ships cars to the United States from Mexico and Japan, called the deal a "big step forward". Nissan, which makes the cars it sells in the United States locally as well as in Mexico, Japan and other countries, said it was "encouraged" by the agreement. Toyota, Japan's biggest automaker, said it was "pleased" that a basic deal was reached. Other automakers were not immediately available for comment. While the deal has removed the risk that the disintegration of the pact would have posed to automakers, bigger risks loom large for Japanese firms as a chunk of the roughly 7 million cars they sold in the U.S. last year were shipped from Japan, and a trade deal between Washington and Tokyo has yet to be agreed. The United States and Japan last week agreed to begin fresh trade talks, with U.S. President Donald Trump seeking to address Japan's $69 billion trade surplus, of which nearly two-thirds comes from auto exports. Washington is also investigating the possibility of slapping 25 percent tariffs on auto imports on national security grounds, although it has agreed with Japan to put any new tariffs on hold during the talks. Analysts say the United States may take a tougher stance on auto imports from Japan than from its neighbors. "If Japan requests an exemption from the 25 percent tariffs under consideration, Washington could propose a more strict cap on imports than it agreed to with Mexico and Canada," said Koji Endo, senior analyst at SBI Securities. "That would be a risk." This could be a big blow to Japan, as the United States is a key source of revenue for Japanese automakers including Toyota, Nissan and Honda. The U.S. market accounts for a quarter or more of their annual global vehicle sales, and of their total U.S.

Mitsubishi and NTT to buy 30% stake in HERE digital mapping company

Digital mapping company HERE Technologies sold a 30% stake to Mitsubishi and Nippon Telegraph and Telephone Corp (NTT), diluting German carmakers’ stake to 54% amid uncertainty about the profit potential from autonomous cars. Mitsubishi and NTT will co-invest in the Amsterdam-headquartered company through their newly established, jointly owned holding firm COCO Tech Holding B.V. in the Netherlands, HERE said on Friday. “Their investment also means we are further diversifying our shareholder base beyond automotive, which is important given the appeal and necessity of location technology across geographies and industries,” HEREÂ’s Chief Executive Edzard Overbeek said. The Japanese companies said they would collaborate with HERE to develop services such as ways to tackle road congestion and improve supply chain efficiencies. High definition maps can also be used in fleet management, asset tracking, last-mile delivery, long-distance package delivery by drones and indoor mapping applications, Overbeek told Reuters. Financial details of the transaction, which they said would close next year, were not disclosed. German carmakers BMW, Audi and Daimler saw high definition mapping as a strategic asset and bought HERE from Finnish telecoms group Nokia for around 2.5 billion euros ($2.8 billion) in 2015 to avoid becoming dependent on AlphabetÂ’s Google. FridayÂ’s deal dilutes the stake held by each German carmaker from 25% to just under 18%, HERE said. REALITY CHECK Tech companies and automakers raced to develop self-driving vehicles after Google presented a prototype car in 2012, leading German manufacturers to develop robotaxis as a way to enter the ride-hailing business to take on Uber. However, the technology costs and regulatory hurdles have spiraled, and ride-hailing businesses have struggled to reach sustainable profitability, leading to a reassessment of the business potential of robotaxis and ride hailing. “There has been a reality check setting in here,” Daimler Chief Executive Ola Kaellenius said last month, adding that spending on robotaxis would be “rightsized.” The move comes as BMW and Daimler this week announced they will exit the North American car-sharing market, halting operations in Montreal, New York, Seattle, Washington D.C., and Vancouver, as they focus on the European market. Last year, GermanyÂ’s Continental and Bosch, the worldÂ’s largest automotive suppliers, bought a 5% stake in HERE.

Should you buy an EV?

Gas prices are hitting the skids and EVs are following suit; nearly every model in today's market has experienced a double-digit decline in sales – with the always notable exception of the Tesla Model S. Some EVs are in the last year of their generation while others have been half-heartedly designed and engineered to fulfill federal government quotas. The two non-Tesla front runners, the Chevy Volt and Nissan Leaf, are in the unfortunate position of offering customers "2015" vehicles that were designed with 2011 in mind. Yet there's plenty of love in the air. Nissan has built over 180,000 Leafs worldwide, and chances are you will be seeing a second electric vehicle accompanying the Leaf when the new generation is released in the coming months. The Chevy Volt now offers the highest customer satisfaction out of any car or truck sold in North America. Forget the luxury cars, the sports cars, the family trucksters, and even the rolling flagship that guides Tesla's jaw dropping valuation on Wall Street. You want happy with your EV? The brand that's rocking the segment right now is Chevy. It's been doing so for a while. The EV market is poised to become a lot more sophisticated over the next 18 months with the three leading manufacturers – Tesla, General Motors, and Nissan – launching five brand new models along with no fewer than 16 other manufacturers making many of their bread and butter cars available as plug-in hybrids. So, if you want to keep your money as far away from the Arab dictatorships and Russian mafia as Mercury is from Pluto, and enjoy your commute, we're more than ready to do our part! So let's begin with the most important question. What's Your Range? How much driving do you generally do in a day? If the answer to that question is 50 miles or fewer, an all-electric vehicle like the Nissan Leaf may be the best ingredient for your driving recipe. This is especially true if you have a second vehicle you can use for the occasional longer drive or are willing to rent for the weekend. But here's a little surprise for you. The upcoming Chevy Volt was designed to be driven in all-electric mode for over 50 miles. Fifty-three, to be exact. Plus, the Volt's battery has experienced a lot fewer deterioration issues than the Nissan Leaf's due in part to the Volt's liquid-cooled battery, which also uses a lot less of its capacity than the air-cooled Leaf's does.