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Japanese automakers will seriously subsidize hydrogen fuel stations

Fresh off the announcement of the EPA-rated fuel economy and range figures for the Toyota Mirai, three of Japan's major automakers are throwing their weight behind hydrogen on the other side of the Pacific. Toyota, Nissan, and Honda are detailing their partnership in Japan to subsidize the creation of an expanded FCV refueling infrastructure there in the coming years. The plan could provide a much-needed boost for goals that are already looking to miss their targets. The partnership, which is called the Joint Hydrogen Infrastructure Support Project, is subsidizing a third of the annual operating expenses up to a maximum of 11 million yen ($90,000) for any hydrogen refueling station that applies and is accepted into the program. For now, the automakers plan to keep this running through around 2020. Toyota senior managing officer Kiyotaka Ise tells Bloomberg the whole thing over that time is expected to cost 5 billion to 6 billion yen ($40.5 million to $49 million). In addition to the money, the companies are trying to raise awareness about the alternative fuel to build popularity. Japan has been pushing extremely hard to build the FCV market there for quite some time by subsidizing both the models and building refueling stations for them. By the 2020 Olympics, the country's goal is to have 6,000 fuel cell vehicles on the roads and possibly even 100,000 of them by 2025. The cars to fulfill these lofty hopes are just gaining steam, though. For example, the Mirai is already experiencing high demand, and Honda is set to bring its new challenger in 2016. This announcement says Nissan is aiming a potential entry for 2017, as well. According to Bloomberg, the fuel cell industry in Japan is forecasted to balloon from 400 million yen (3.3 million) in the current fiscal year to 100 billion ($813 million) by 2025. Toyota, Nissan, and Honda Agree on Details of Joint Support for Hydrogen Infrastructure Development Toyota Motor Corporation, Nissan Motor Co., Ltd., and Honda Motor Co., Ltd. have agreed on key details regarding a new joint support project for the development of hydrogen station infrastructure in Japan. In addition to partially covering the operating costs of hydrogen stations, the three automakers have also agreed to help infrastructure companies deliver the best possible customer service and create a convenient, hassle-free refueling network for owners of fuel cell vehicles (FCVs).

Japan may aid carmakers facing U.S. tariff threat

TOKYO — Japan is considering giving carmakers fiscal support including tax breaks to offset the impact from trade frictions with the United States and a sales-tax hike planned for next year, government sources told Reuters on Wednesday. Going into a second round of trade talks with the United States on Sept. 21, Japan is hoping to avert steep tariffs on its car exports and fend off U.S. demands for a bilateral free trade agreement that could put it under pressure to open politically sensitive markets, like agriculture. "If the trade talks pile pressure on Japan's car exports, we would need to consider measures to support the auto industry," a ruling party official said on condition of anonymity because of sensitivity of the matter. The auto industry accounts for about 20 percent of Japan's overall output and around 60-70 percent of the country's trade surplus with the United States, making it vulnerable to U.S. action against Japanese exports. Japan's biggest automakers and components suppliers fear they could take a significant hit if Washington follows through on proposals to hike tariffs on autos and auto parts to 25 percent. Policymakers also worry that an increase in the sales tax from 8 percent to 10 percent planned for October 2019, could cause a slump in sales of big-ticket items such as cars and home. Prime Minister Shinzo Abe has twice postponed the tax hike after the last increase from 5 percent in 2014 dealt a blow to private consumption, which accounts for about 60 percent of the economy. To prevent a pullback in demand after the tax hike, the government may consider large fiscal spending later when it draws up its budget for next year, government sources said. "One option may be to greatly reduce or abolish the automobile purchase tax," one of the government sources said. The government is also considering cuts in the automobile tax and automobile weight tax to help car buyers, the source added. Reporting by Izumi Nakagawa and Tetsushi KajimotoRelated Video: Image Credit: Getty Government/Legal Isuzu Mazda Mitsubishi Nissan Subaru Suzuki Toyota Trump Trump tariffs trade

GM, Ford, Honda winners in 'Car Wars' study as industry growth continues

General Motors' plans to aggressively refresh its product lineup will pay off in the next four years with strong market share and sales, according to an influential report released Tuesday. Ford, Honda, and FCA are all poised to show similar gains as the auto industry is expected to remain healthy through the rest of the decade. The Bank of America Merrill Lynch study, called Car Wars, analyzes automakers' future product plans for the next four model years. By 2020, 88 percent of GM's sales will come from newly launched products, which puts it slightly ahead of Ford's 86-percent estimate. Honda (85 percent) and FCA (84 percent) follow. The industry average is 81 percent. Toyota checks in just below the industry average at 79 percent, with Nissan trailing at 76 percent. Car Wars' premise is: automakers that continually launch new products are in a better position to grow sales and market share, while companies that roll out lightly updated models are vulnerable to shifting consumer tastes. Though Detroit and Honda grade out well in the study, many major automakers are clumped together, which means large market-share swings are less likely in the coming years. Bank of America Merrill Lynch predicts the industry will top out with 20 million sales in 2018 and then taper off, perhaps as much as 30 percent by 2026. Not surprisingly, trucks, sport utility vehicles and crossovers will be the key battlefield in the next few years, Car Wars says. FCA will launch a critical salvo in 2018 with a new Ram 1500, followed by new generations of the Chevy Silverado and GMC Sierra in 2019, and then Ford's F-150 for 2020, according to the study. Bank of America Merrill Lynch analyst John Murphy said the GM trucks could be pulled ahead even earlier to 2018, prompting Ford to respond. "This focus on crossovers and trucks is a great thing for the industry," Murphy said. Cars Wars looks at Korean (76 percent replacement rate) and European companies more vaguely (70 percent), but argues their slower product cadence and lineups with fewer trucks puts them in weaker positions than their competitors through 2020. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2016 Chevrolet Silverado View 11 Photos Image Credit: Chevrolet Earnings/Financials Chrysler Fiat Ford GM Honda Nissan Toyota study FCA