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Japan carmakers vouch for safety of some Kobe Steel parts

TOKYO — Four Japanese automakers on Thursday said they found no safety issues with aluminum parts supplied by Kobe Steel Ltd, allaying some concerns that falsified quality data on products from the steelmaker had compromised their vehicles. Kobe Steel shares surged after the car makers' statements, but the steelmaker still has to contend with a U.S. Justice Department probe, while checks continue at hundreds of companies involved in complex supply chains spanning the globe. Japan's third-biggest steelmaker admitted earlier this month it falsified specifications on the strength and durability of aluminum, copper and steel products, along with materials for optical disks. The falsifications stretch back for more than 10 years, a senior executive told Reuters this week. Since then, global automakers, aircraft companies and other manufacturers have scrambled to identify potential hazards in their products. Toyota, Honda, Nissan and Mazda said that hoods and other exterior parts used in their cars which were made from aluminum directly supplied by Kobe Steel were safe. Kobe Steel shares ended the day nearly 7 percent higher but are still down by more than a third since it announced the data falsification. Automakers are still making checks on other parts, including those that they received through their parts suppliers. "We confirmed that the materials satisfy applicable statutory standards, and our own internal standard, for key safety and durability requirements for vehicles," Toyota said in a statement. Toyota, one of the world's largest automakers, identified aluminum plates supplied by Kobe Steel for the hoods and rear hatches of Toyota and Lexus brand vehicles. Though outside the automaker's specifications, they were still safe to use. While Subaru and other carmakers said they were still investigating the issue, the announcements by Toyota, Honda, Nissan and Mazda suggest that Kobe Steel's cheating scandal may have a limited impact on product safety."SERIOUS SITUATION" Nonetheless, the company's fate hangs in the balance while checks are being carried out. It must report to Japan's industry ministry by around the end of next week on any safety concerns and provide a more extensive account of the problems a fortnight later. Industry leaders have reached a consensus that Kobe Steel is in a "serious situation," a senior Japanese manufacturing executive told Reuters.

Volkswagen could outsell GM in China for the first time in nine years

As of the end of November, Volkswagen had sold 70,000 more cars than General Motors in China in 2013, making it appear inevitable that VW will outsell GM there. The feat would return the German brand to the top of chart in China for the first time in nine years, but even the second-place getter won't be complaining too loudly: both automakers sold more than three million vehicles in a market pegged to hit 16 million sales this year.
Volkswagen said it could have sold more cars if it had had more production capacity in China. The arrival of a new-to-China Audi A4, a China-built A3 sedan, the VW Bora and Skoda Octavia, as well as an $18.2-billion-euro investment in the country to construct new factories, means VW should see its numbers grow in 2014. GM's lineup is expanding next year, too, adding four Chevrolet nameplates and two vehicles to its Baojun brand as it tries to get to five million in sales by 2015.
Among other automakers, Ford benefited from good product and woes for Japanese automakers over a territorial dispute with China, outselling Toyota by almost 32,000 units through the end of November. The Ford Focus is China's best-selling vehicle so far this year.

Toyota sells off Tesla shares, too

The incredible rise of Tesla's stock price has done little to now stop two major shareholders from ditching their stake in the American EV manufacturer. First, Daimler, parent company of Mercedes-Benz, ditched its four-percent stake, and less than a week later, Toyota is doing the same thing, selling off an undisclosed bit of its Tesla investment.
The move comes as Toyota winds down sales of the RAV4 EV, which gets its batteries and electric motor from Tesla at the company's Fremont, CA factory.
"We have a good relationship with Tesla, and will evaluate the feasibility of working together on future projects," Toyota spokesperson Kayo Doi told Bloomberg via email.