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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

Toyota to axe Venza by June 2015

After years of wallowing about the market as a slow-selling alternative to its own RAV4 and Highlander (among over CUVs), Toyota is putting the Venza out to pasture, the company confirmed. Production will officially cease by June of this year, although Toyota will continue to screw together the car for export markets until September of 2017. No jobs will be affected at the Toyota Motor Manufacturing factory in Kentucky. TMMK already builds the Avalon, Camry and their hybrid variants. To make up for the loss of the Venza, Toyota has already upped production of the RAV4, and is planning on increasing supplies of its Highlander at its Princeton, IN factory. Venza sales have been, in a word, abysmal. According to CarsDirect, Toyota sold just 2,100 Venzas in January of 2015, while sales of the RAV4 and Highlander hit nearly 20,000 units for the former and exceeded 11,000 for the latter. Considering that, freeing up the showroom space occupied by the Venza sounds like a smart move.

Old Toyota Camry Hybrid batteries find new life in Yellowstone

Beginning this fall, used hybrid batteries that would otherwise be recycled will get a second life in Yellowstone National Park. 208 nickel-metal hydride batteries are being retired from the Toyota Camry Hybrids they once helped power and will become part of an off-the-grid energy system at Yellowstone's remote Lamar Buffalo Ranch field campus. The Lamar campus provides field seminars and other education and research in the northeastern corner of the park. The energy stored in the battery packs will come from solar panels and micro-hydro turbines. The total storage capacity of the batteries is 85 kWh, which is sufficient to provide plenty of emissions-free power to the five buildings at the field campus. Toyota says this program essentially doubles the life of the batteries that are no longer suitable for driving. It's great to see the batteries get another life cycle before recycling, especially in a place where wild animals easily outnumbers the cars. The battery project is part of a larger partnership between Toyota and Yellowstone. Toyota has previously donated a RAV4 and $50,000 to support sustainability projects at the park. In addition to the energy system being implemented at the Lamar Buffalo Ranch, Toyota has taken part in similar energy projects. Beginning last year, Toyota dealers in Japan have been using hybrid batteries for power storage. Also, Toyota Motor Manufacturing Alabama is testing a system to use hybrid batteries to power operations and for emergency backup power. Learn more in the press release from Toyota below. Buffalo and Bears and Batteries – Oh My! Toyota Brings Power to Yellowstone National Park June 04, 2014 Yellowstone...Where the Deer and the Antelope and the Prius Play Torrance, Calif. (June 4, 2014) – The nation's oldest National Park is ready for some new power. Toyota Camry hybrid batteries will soon power the Lamar Buffalo Ranch field campus in Yellowstone National Park. It's a new lease on life for the batteries and new, zero emission, energy option for the Park. Now that's a "bear-able" solution! The stationary distributed energy system will feature 208 used Camry Hybrid nickel-metal hydride battery packs and a total storage capacity of 85 kWh, more than enough pluck to power the five buildings on the Ranch field campus.