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Honda-Nissan-Mitsubishi alliance completes Japan car industry consolidation

Makoto Uchida (left), president and CEO of Nissan, and Toshihiro Mibe, director, president and representative executive officer of Honda, at a press conference in Tokyo on Thursday. (Getty)   Japan’s carmakers are putting the finishing touches on a combine-and-compete strategy for an automotive age defined by batteries and software, with three manufacturers joining forces to complement a separate Toyota Motor Corp.-led coalition. Honda Motor Co. and Nissan Motor Co. agreed this week to build upon a preliminary deal first reached in March, offering more details of how they plan to work together and also adding Mitsubishi Motors Corp. to the mix. While the companies havenÂ’t yet discussed a capital alliance, forming one is a possibility, Honda Chief Executive Officer Toshihiro Mibe said. The partnership will span joint work on software development, batteries and other electric-vehicle components, as well as EV charging and energy services, the three companies said. Their cozying up to one another follows Toyota acquiring stakes in Subaru Corp., Suzuki Motor Corp. and Mazda Motor Corp., and helping them navigate a fraught era for legacy car companies. Whereas Toyota has tied up with its domestic peers from a position of strength — itÂ’s been the worldÂ’s best-selling automaker for four years running — Honda, Nissan and Mitsubishi each are much smaller players on the global stage. Their coming together is seen as a move by JapanÂ’s government to fortify its auto industry in the wake of China having emerged as the worldÂ’s new No. 1 car exporter. “This is coordinated by the government to build a competitive automaking industry,” said James Hong, analyst at Macquarie Securities Korea Ltd., adding that most automakers in Japan are too small to be able to invest in EVs individually. “It feels like a politically driven alliance.” While the US has had the Big Three — General Motors Co., Ford Motor Co. and Chrysler, now owned by Stellantis NV — and Germany similarly has a trio in Volkswagen Group, BMW AG and Mercedes-Benz, Japan has a much bigger crop of carmakers manufacturing vehicles across the globe. Honda, Nissan and Mitsubishi combined sold about 4 million vehicles globally in the first six months of the year, well shy of the 5.2 million that Toyota sold on its own. While the three touted the potential for generating synergies from working together, executives also acknowledged theyÂ’ll have to overcome contrasts with their compatriots.

Ford tops GM in US vehicle sales in May, driven by fleets

DETROIT - Ford, bolstered by heavy sales to fleet customers, surpassed General Motors in US new vehicle sales in May, according to figures reported Thursday. Ford said May sales rose 2.2 percent from a year ago to 241,126 units. GM sales dropped 1.3 percent to 237,364. GM said it had been trimming sales of heavily discounted vehicles to car rental companies. Such fleet sales made up about 19 percent of its total sales in May. Ford's fleet sales rose 8.4 percent, representing more than 34 percent of total sales. The industry average is around 20 percent. Analysts had expected mixed results for the industry, with sales likely propped up by heavy discounts. Fiat Chrysler Automobiles said May sales dipped 0.9 percent to 193,040. Toyota's US sales dropped 0.5 percent to 218,248. Nissan said US sales in May rose 3.0 percent, to 137,471. After demand fell in March and April, analysts estimated May sales at just over 1.5 million. The seasonally adjusted annual rate of sales in May was estimated at 16.8 million to 16.9 million vehicles, about the same as April. A year earlier, sales stood at 17.55 million vehicles. Early reports indicated that sales over the three-day Memorial Day weekend were helped by heavy discounts. "While demand for new vehicles is still relatively strong, it's a bit of smoke and mirrors," said Jessica Caldwell, executive director of industry analysis at Edmunds, the car shopping website. Manufacturers and dealers "really pushed the deals over the holiday weekend to prop up their May numbers," she said. "Incentives were up sharply, and it seems automakers are putting more cash on the hood to nudge car shoppers to buy versus lease." General Motors dealers were offering discounts of up to $12,000 on the full-size Chevrolet Silverado pickup, while some dealer discounts on Ford Motor Co's F-series pickups were more than $10,000 on 2017 models and more than $14,000 on leftover 2016 models. The 2017 model year started eight months ago. Reporting by Paul LienertRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Chrysler Fiat Ford GM Nissan Toyota US

L.A. Auto Show: Genesis X Convertible, Toyota Prius and more | Autoblog Podcast #756

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. The Los Angeles Auto Show wrapped up this week, and we talk about some of the highlights from the show, and the events surrounding it, like the new Toyota Prius, Genesis X Convertible concept, new Lucid Air trims and the Lucid Gravity SUV. John talks about traveling to Sweden for the reveal of the Volvo EX90. They also talk about the cars they've been driving, including the Nissan Leaf, Nissan Kicks, Mercedes EQB and Jeep Wagoneer. They also shoot the breeze about late fall beer, courtesy of an email from a listener. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #756 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2022 L.A. Auto Show 2023 Toyota Prius Genesis X Convertible concept Lucid Air Pure and Touring Lucid Gravity SUV Volvo EX90 Cars we're driving Nissan Leaf Nissan Kicks Mercedes-Benz EQB 300 Jeep Wagoneer Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.