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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

Ride along with Mark Higgins for a record-setting lap

Earlier this month, driver Mark Higgins, Subaru of America, and Prodrive broke their own record on the Isle of Man's Snaefell Mountain Course by setting a time of 17 minutes, 35 seconds. The attempt was approximately two minutes better than their previous record, which was set with a time of 19 minutes, 26 seconds. Now, Subaru has released the full, hairy in-car video of the record-setting lap that is narrated by Higgins himself. Listening to Higgins' 550-hp Subaru WRX STI scream to over 170 miles per hour is the best cure for a case of the Mondays, while watching the driver navigate over the course's less-than-perfect road will surely cause some anxiety. It may be a 20-minute long video, but every minute is filled with nail-biting moments and listening to Higgins' thought process through the course is mesmerizing. Incredibly, Higgins managed an average lap speed of 128.73 mph. And while that may seem impossible for mere mortals to match, Higgins believes he can go even faster. Subaru will surely be back with another WRX STI next year, but it's hard to fathom a car being able to go any faster around the Isle of Man. Related Video:

2015 Subaru WRX caught testing in US on Mulholland

In April, we got our first glimpse at the 2015 2015 Subaru WRX - the car was caught in STI form in photos and in motion running around Germany's infamous Nürburgring. That's all well and good, but obviously Subaru will sell a good number of the hotter Impreza models here in the United States, and thus, it's nice to now see a video of the next WRX testing out in California, albeit in what looks to be non-STI form.
Originally posted on the Subaru Owners Club website, this video comes from YouTube user 31200MulhollandHwy. And that's quite appropriate, since the video clearly shows the now de-winged WRX prototype testing on the well-known - you guessed it - Mulholland Highway. Just like before, we're disappointed that the prototypes spotted testing don't appear to be as bold and beautiful as the WRX Concept that Subaru brought to this year's New York Auto Show. Nevertheless, we'll hold our final judgments until the camouflage is peeled away.
Have a look below to see (and hear!) the 2015 WRX running up Mulholland.