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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

Subaru WRX STI Type RA NBR Special is nearly as fast as a Porsche 918 Spyder at the Nurburgring

Subaru now claims to have the fastest sedan to circle the Nurburgring. Its (deep breath) WRX STI Type RA NBR Special finished a lap of the famed German racetrack in an incredibly fast 6:57.5. That's just half a second behind the Porsche 918 Spyder hypercar. Of course, this WRX STI is a specially-built racecar, a rather distant cousin of the WRX STI Type RA production car that takes its name from this race car. The Type RA NBR Special is an upgraded version of the car Subaru took to the Isle of Man time trial last year, where it broke Subaru's old record. The car was built by Prodrive, and it features a 2.0-liter turbocharged flat-four made for rally use. It now makes over 600 horsepower at 8,500 rpm, which is 50 more than it made last year. The aerodynamic aids have been updated, and they provide 650 pounds of downforce at the car's top speed. The car still has the power-adjustable rear wing from last year. At the press of a button, the driver can change the angle of the rear wing to reduce drag and increase speed on straights. Supporting the power and aerodynamic upgrades are 9-inch wide slick tires at each corner, and a rally-spec sequential transmission that can shift gears in 20 to 25 milliseconds. Related Video:

2019 Subaru Ascent pricing announced, starting at $32,970

Pricing for the 2019 Subaru Ascent three-row crossover SUV has been announced. Including destination, the base trim carries an MSRP of $32,970. That's with standard eight-passenger seating, and like every Ascent, a 260-horsepower turbocharged 2.4-liter boxer-4, a CVT and all-wheel drive. As a refresher, here are 15 fast facts about the 2019 Ascent. You can also see how it compares to the Honda Pilot and Toyota Highlander. Standard equipment on the base Ascent includes 18-inch alloy wheels, tri-zone climate control, EyeSight accident avoidance tech, four USB ports, and Subaru's 6.5-inch Starlink touchscreen that brings with it Android Auto and Apple CarPlay. The Ascent Premium starts at $35,170 and can be had with either 7- or 8-passenger seating (the latter includes second-row bench seating). It adds blind-spot and rear cross-traffic warning systems, privacy glass, heated mirrors, a windshield wiper de-icer, a power-adjustable driver seat, heated front seats, stain-resistant upholstery, a leather-wrapped steering wheel, rear climate controls, and an upgraded 8-inch version of StarLink. Towing capacity is also raised to 5,000 pounds. There are two optional packages available on the Premium that adds some of the upper trim levels' features. View 14 Photos The Ascent Limited starts at $39,970 with either 8- or 7-passenger seating. It adds 20-inch wheels, adaptive LED headlights, LED foglights, a power liftgate, leather seating, proximity entry and push-button start, second-row sunshades and two additional USB ports. An optional package including a panoramic sunroof, a cargo cover, integrated navigation and a Harman Kardon sound system can be added for $2,950. The top Ascent Touring costs $45,670. It includes the Limited's options plus chrome exterior trim, automatic wipers, unique Java Brown leather upholstery, a heated steering wheel, wood trim, ventilated front seats, even more USB ports (up to eight), a Cadillac-like rearview camera mirror and a 180-degree front view camera. The 2019 Subaru Ascent will arrive in dealers this summer. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.