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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

Custom-built Subaru Impreza is set to break Isle of Man record

Last week Prodrive showed off the 2016 Subaru WRX STI it built for a record attempt at the Isle of Man TT's Snaefell Mountain Course. And now Subaru is officially going back to the Isle of Man to break its own record. Once again Mark Higgins will drive the Impreza around the 37.7-mile road course. Higgens piloted record runs in 2011 and 2014. The most recent run established the current 19-minute, 15.9-second best time. This new car "will be considerably faster than the previous car," according to Dominick Infante, Manager of Product Communications for Subaru America. That's because the previous attempts were in mostly-stock versions of the Impreza WRX STI. The new car is a completely rebuilt, track-only special. Details on the engine and other specifics like aerodynamic tweaks are being held until the car's official launch. The Isle of Man Tourist Trophy is an annual time-attack motorcycle race on the small island located between the United Kingdom and Ireland. This year the event runs from May 28 to June 10. There are no sanctioned automotive races on the Isle of Man, so Subaru is essentially running the course for our entertainment. And as you can see in the video below from last year, it's riveting. We can't wait to see if the new car will break the 19-minute barrier. Subaru Racing Vehicles mark higgins

Driving the Ford Explorer ST and Volvo V60 Cross Country | Autoblog Podcast #613

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick. First they talk about driving the Volvo V60 Cross Country and Ford Explorer ST, with some thoughts about the Subaru Outback and Super Bowl commercials as well. Then they dive into the mailbag, answering questions and following up on the outcomes of previous "Spend My Money" segments. Finally they wrap things off with a new "Spend My Money," in which they help a listener pick a new car that will accommodate a new, tiny family member without sucking all the fun out of driving. Autoblog Podcast #613 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars We're Driving: 2020 Volvo V60 Cross Country 2020 Ford Explorer ST 2020 Subaru Outback Super Bowl ads Mail bag Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.