TOKYO, Feb 4 (Reuters) – Japan’s Mazda Motor Corp
said the rouble’s plunge bit into European revenue and kept
annual profit targets unchanged, while Fuji Heavy Industries Ltd
, home of the Subaru, raised forecasts on brisk U.S.
auto sales and a weaker yen.
Both of the second-tier automakers benefit from a weaker
Japanese currency because they export most of the vehicles they
produce at home. But Mazda said the yen’s weakness against the
dollar was outweighed by a worse-than-expected impact from the
Russian currency’s collapse, cutting its third-quarter earnings.
TOKYO, Feb 4 (Reuters) – Toyota Motor Corp lifted
its operating profit guidance on Wednesday in a widely expected
move, as a weaker yen increases the value of sales overseas and
makes up for slumping demand at home.
The yen’s decline has been a boon for Toyota, which exports
roughly half of its vehicles produced in Japan. Cost-cutting
undertaken when the yen hovered at record highs in recent years
has also helped the automaker’s bottom line.
TOKYO, Jan 30 (Reuters) – Japan’s Honda Motor Co
sliced 6.5 percent off its core annual profit forecast as it set
aside hundreds of millions of dollars in extra cash to cover an
extended car recall to replace potentially faulty air bags made
by Takata Corp.
Reporting its third-quarter earnings fell by nearly a
quarter as it soaked up recall costs, Japan’s third-largest
automaker said it now expects an operating profit of 720 billion
yen ($6.1 billion) for the year to March 31.
TOKYO, Jan 30 (Reuters) – As Japan’s Honda Motor Co
pays hundreds of millions of dollars to replace potentially
deadly air bags, hitting earnings, a new headache lies around
the bend – cheaper U.S. petrol could lure buyers away from its
The country’s third-largest automaker reports income for the
October-December quarter later on Friday that analysts see
falling 17 percent from a year earlier, squeezed by the cost of
voluntary recalls involving air bag inflators made by top
supplier Takata Corp. The hit may be enough to trigger
a full-year profit warning.
TOKYO, Jan 21 (Reuters) – Toyota Motor Corp took
the unusual step of projecting a drop in annual vehicle sales on
Wednesday in a move that could see Volkswagen steal
the industry crown this year as demand slumps in Japan,
Indonesia and other key markets.
The forecast underscores Chief Executive Akio Toyoda’s
resolve to steer the company through measured, profitable growth
rather than chase volumes after getting burned by a capacity
glut in the wake of the 2008 global financial crisis.
TOKYO (Reuters) – Three Japanese automakers will recall more than half a million cars globally to replace air bag inflators made by Takata Corp (7312.T: Quote, Profile, Research, Stock Buzz), bringing the total tally of Takata-related recalls across all brands to around 20 million since 2008.
The recalls announced on Thursday by Honda Motor (7267.T: Quote, Profile, Research, Stock Buzz), Nissan Motor (7201.T: Quote, Profile, Research, Stock Buzz) and Mitsubishi Motors (7211.T: Quote, Profile, Research, Stock Buzz) correspond with a similar, precautionary recall by Toyota Motor (7203.T: Quote, Profile, Research, Stock Buzz) last week after a recent “unusual deployment” of a passenger-side air bag at a scrap yard in Japan.
TOKYO, Dec 9 (Reuters) – Honda Motor said it will
expand an ‘investigative’ recall to replace potentially lethal
Takata Corp air bag inflators across the globe, taking
the total Takata-related recall tally of all brands to more than
19 million since 2008.
Honda earlier added about 2.6 million cars in the United
States when it expanded nationwide a recall of driver-side air
bag inflators that was previously limited to 11 states and
territories with hot and humid climates.
TOKYO (Reuters) – Takata Corp’s (7312.T: Quote, Profile, Research, Stock Buzz) resistance to a U.S. order to expand a recall of its air bag inflators is likely driven by a need to protect itself from legal liability, but risks longer-term business damage by alienating the public, experts say.
Takata this week rejected a National Highway Traffic Safety Administration (NHTSA) demand to declare its inflators defective and call in vehicles U.S.-wide for replacement. An existing recall is limited to a few hot and humid states. In a letter, Takata queried NHTSA’s justification for the order while a cause for why its inflators can erupt with excessive force is still unclear. The Japanese firm left it up to automakers to decide whether to expand the recall.
TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) said on Thursday it would call back 190,000 more vehicles, mostly in Japan, to replace potentially defective air bags made by Takata Corp (7312.T: Quote, Profile, Research, Stock Buzz), the latest in a long line of recalls for the embattled auto parts supplier.
The move follows an unusual deployment of a Takata-made air bag inflator in a 2003-model Toyota Will Cypha subcompact at a scrapyard in Japan last month, and the cause of the potential problem is still unknown, Japan’s transport ministry said.
DETROIT/TOKYO (Reuters) – U.S. auto safety regulators said Takata Corp’s response to an order to expand a recall nationwide was “disappointing”, criticizing the Japanese auto parts supplier for shirking responsibility over its potentially deadly air bags.
Takata, at the center of a global recall of more than 16 million cars in the past six years, had until Tuesday to respond to the National Highway Traffic Safety Administration’s (NHTSA) order to expand a regional recall and replace driver-side air bags from across the United States.