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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.

Chevy Bolt wins 2017 Green Car of the Year

We knew that a plug-in vehicle was going to win the 2017 Green Car of the Year award this year, given that all five finalists have a way to charge up. And when Ron Cogan, the editor and publisher of Green Car Journal, announced the winner – the 2017 Chevy Bolt EV – he said that the car itself represents one of those times in the auto industry when everything is about to change. Similar to the invention of the starter motor, things are about to get different. For now, though, the fact that the Bolt EV won an award sounds like the same old thing all over again. Just this week, it was named Motor Trends Car of the Year and to the Car And Driver Top 10 list. The other four finalists for Green Car of the Year included the Toyota Prius Prime, the Chrysler Pacifica, the Kia Optima (including hybrid and plug-in hybrid models) and the BMW 330e iPerformance. Last year, the winner was the 2016 Chevy Volt. Did Green Car Journal make the right selection this year? See the award ceremony below.

Toyota's car subscription service rewards you for safe driving

Toyota has teamed up with Sumitomo Mitsui Auto Service Company to launch a new car subscription service with gamification elements in Japan. The program is called Kinto, and it'll offer two tiers: the first, called Kinto One, will allow you to drive one Toyota vehicle over a three-year period for anywhere between $420 and $900 a month. When the tier becomes available on March 1st, you can choose from the available Prius, Corolla Sport, Alphard, Vellfire and Crown models. The other tier called Kinto Select will give you the power to drive one of the available Lexus-branded vehicles for $1,630 a month for three years. Now, what truly makes Kinto potentially more interesting than other leasing services is a rewards program that awards points based on how well you drive. Toyota didn't really expound on how it will work, other than saying that it will "award points to customers based on their vehicle usage (such as for safe or ecological driving)." As TechCrunch notes, the assumption is that the vehicle's in-car connected system will come with the ability to monitor your driving. Best thing about it is that the points you earn aren't useless rewards you can't even use: you'll be able to apply them toward payments. Kinto's Select option will be available starting on February 6th, almost a full month before the more affordable Kinto One launches. Both will be available via select dealers in Tokyo on a trial basis, and they won't officially roll out across Japan until summer. The points program won't be available until fall, when Kinto One's options will also expand. Unfortunately, there's no word on whether Kinto will eventually roll out in the US and other markets outside Toyota's home nation.For more information on Vehicle Subscription Services, check out the Complete Guide.Reporting by Mariella Moon for Engadget.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.