logo
'I was scared it would explode,' Tokyo man's £220K Ferrari burns on the street, pictures go viral

'I was scared it would explode,' Tokyo man's £220K Ferrari burns on the street, pictures go viral

Time of India23-04-2025

Image credit: X/@Niatan_2525
What was meant to be a dream come true quickly turned into a nightmare. After years of hard work and saving, a man in Tokyo had just bought a £220,000 Ferrari 458 Spider. But within an hour of driving it, the brand-new car caught fire on the road. The rare incident left the new owner shocked and devastated.
The owner, 33-year-old Japanese music producer Honkon, had spent a decade working toward this dream. After finally driving his new Ferrari off the dealership lot, he was just an hour into his drive when things went wrong, according to a report presented by The Sun. While driving through Tokyo's Minato area, Honkon noticed white smoke coming from the back of the car. Acting quickly, he pulled over to stop.
'I was really scared that it would explode,' he shared on social media, sharing what happened when the car suddenly caught fire, according to the media report.
In just a few minutes, the luxury car was on fire in the middle of the street. Videos from people nearby show the white Ferrari burning, with Honkon standing a few metres away, shocked but safe. Cars and people slowed down, watching in disbelief. Firefighters reached the spot and put out the flames in about 20 minutes. No one was hurt, but the car was badly damaged and left in ruins. 'I think I'm the only person in Japan to have experienced such trouble,' Honkon noted, still coming to terms with the shock of what had unfolded, the report suggests.
According to The Sun, Tokyo police have started an investigation to find out what caused the fire. So far, there's no official explanation for how it started. It's also unclear if the car was insured.
While rare, incidents like this have happened before. As per the report, earlier this year, a £300,000 Lamborghini caught fire on a busy street in London, attracting a crowd and going viral online. A bystander even tried to put out the fire with a fire extinguisher before emergency services arrived.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Toyota's Toyoda Re-elected as Chairman Amid $33B Buyout and Governance Scrutiny
Toyota's Toyoda Re-elected as Chairman Amid $33B Buyout and Governance Scrutiny

Time of India

time3 hours ago

  • Time of India

Toyota's Toyoda Re-elected as Chairman Amid $33B Buyout and Governance Scrutiny

Toyota Motor shareholders re-elected Akio Toyoda as chairman on Thursday, highlighting support among mom-and-pop investors even as the Japanese automaker's $33 billion buyout of a group company draws criticism from overseas shareholders. Toyoda, formerly chief executive of the world's top-selling automaker and grandson of its founder, was widely expected to be re-elected at Thursday's annual general meeting. For the first year in three, he was not opposed by either of the leading proxy advisory firms which had previously flagged governance concerns. The breakdown of voting is yet to be released so it is unclear whether he secured more than last year's 72%, the lowest on record for a Toyota director. On Tuesday, shareholders of group company Toyota Industries peppered executives with questions about the carmaker's 4.7 trillion yen ($33 billion) buyout bid that foreign investors have called unfair for minority shareholders. Toyoda, who is not on Toyota Industries' board, was not present at that meeting. "There had already been a lot in the press about Toyota Industries ... so I think many shareholders thought they had enough information," said Akihiro Horiuchi , a Toyota Motor shareholder in his forties who was attending the AGM in central Japan for the second time. He said the automaker had explained its rationale for the deal on its Toyo Times news website. "Toyota (Motor) is the best company in Japan and I think it will continue to grow," Horiuchi said. Toyota Motor plans to take forklift-maker Toyota Industries private through a complex deal that will see Chairman Toyoda invest 1 billion yen of his own money and spur restructuring of Japan's most powerful corporate group. Priced 16,300 yen a share, some overseas shareholders have said the price undervalues the target's intrinsic value and strengthens the founding family's control over the group. Toyota Motor has said the acquisition will allow Toyota Industries to deepen collaboration with group companies, without the concern of short-term profit targets, as the group develops a broader mobility identity. This year, proxy advisers Glass Lewis and Institutional Shareholder Services recommended shareholders re-elect Toyoda. Glass Lewis recommended voting against in the previous two years and ISS had last year. Toyoda's position came under scrutiny due to broader governance concerns. Neither adviser gave specific reasons for their change in recommendation this year. The chairman has seen shareholder support slip in recent years. Last year's 72% was down from 85% and 96% in the prior two. In a July interview with Toyo Times, Toyoda acknowledged his seat could be at risk if shareholder support continued to fall. Toyota Industries, formerly Toyoda Automatic Loom Works, was founded in 1926 to make automatic looms. It set up an automotive division which it later spun off as Toyota Motor.

Japan's Nikkei falls as US stock futures decline, firmer yen weighs
Japan's Nikkei falls as US stock futures decline, firmer yen weighs

Economic Times

time4 hours ago

  • Economic Times

Japan's Nikkei falls as US stock futures decline, firmer yen weighs

Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Japan's Nikkei share average fell on Thursday as a stronger yen prompted a sell-off of exporters, while declines in U.S. stock futures hurt Nikkei fell 0.7% to close at 38,173.09. The broader Topix slipped 0.2%."Investors sold Japanese equities as they bet Wall Street would be weak again later in the day, after seeing declines of U.S. stock futures in Asia hours," said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory."But the Nikkei closed above the 38,000 level for a fourth consecutive day, it seems that the index has cleared the first hurdle for further gains."The S&P 500 ended lower overnight, with investors spooked by Middle East tensions, while a tame inflation report calmed concerns around tariff-driven price pressures and trade rs awaited more details on the China-U.S. trade talks.S&P and Nasdaq futures each fell about 0.3% in Asia yen strengthened about 0.6% to trade at 143.67 per owner Fast Retailing dropped 2.6% to drag the Nikkei the declined as the yen gained, with Toyota Motor and Honda Motor losing 1.5% and 0.9%, respectively.A stronger yen typically weighs on exporter shares by reducing the value of overseas earnings when converted back into Japanese yen's strength this week has worked to keep the Nikkei below 38,500, Mizuho Securities analyst Yutaka Miura said."The yen's appreciation trend is expected to continue moderately, which is likely to be a factor in limiting the upside of Japan stocks," he said, predicting the Nikkei will move in the 36,000-39,000 range this the trend among exporters, Nintendo rose 1.1% after the game maker said it had sold more than 3.5 million Switch 2 units in the first four days after its launch, making the console the company's fastest-selling gaming device to Pharma was far and away the Nikkei's top percentage gainer, surging by its daily limit of 17% after Daiwa Securities upgraded the stock.

Toyota shareholders vote to reappoint Akio Toyoda as chairman of group
Toyota shareholders vote to reappoint Akio Toyoda as chairman of group

Business Standard

time5 hours ago

  • Business Standard

Toyota shareholders vote to reappoint Akio Toyoda as chairman of group

Toyota Motor Corp.'s chairman kept his seat on the carmaker's board at its annual meeting, where talk of selfies and sumo wrestlers overshadowed Akio Toyoda's role in a contentious buyout of a group company. Shareholders passed a motion on Thursday to appoint or reappoint six people, including Toyoda and Chief Executive Officer Koji Sato, to Toyota's board of directors. Although major proxy advisers backed Toyoda's reelection — reversing their stance after voting against him in 2024 — investors got a chance to air their grievances as Toyoda faced them publicly for the first time since the Toyota group launched a 4.7 trillion yen ($32.4 billion) bid to privatise Toyota Industries Corp. Instead, not a single mention was made of the takeover, let alone the impacts US trade policy might have on the world's biggest automaker. Questions about the privatisation of Toyota Industries and Toyoda's role in it never came up. That was in stark contrast to earlier this week at Toyota Industries' annual meeting. The company that spawned Toyota Motor had what could be its final gathering as a public company on Tuesday. Executives spent most of the time fielding questions from individual shareholders who sought an explanation for why the buyout was conducted so abruptly, and why the tender offer fell short of the company's market value. The privatization of Toyota Industries aligns with the Japanese government's push to resolve parent-child structures and chimes with its wish for big companies to unwind cross-held shares. But on the flipside, and what's angering many activist and retail investors alike, is that it could also hand Akio Toyoda greater influence over the group at what some say is an artificially low price. Toyota Fudosan Co., an unlisted real estate developer that counts 15 other companies within the Toyota group as its shareholders, will own most of Toyota Industries via a holding entity once the deal is completed. The tender offer, at 16,300 yen per share, includes funding from Toyota Motor as well as 2.8 trillion yen in loans from the country's top banks — Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. Toyoda, who is also Toyota Fudosan's chairman, will personally invest 1 billion yen. Shares in Toyota Industries are trading around the 16,340 yen mark but were as high as 18,400 yen earlier this month. Toyoda has pushed back against criticism that the offer hands over too much for too little. The plan isn't to tighten his family's grip on the business group, he said in an interview published Friday on Toyota's internal media website, but rather to restore the company's identity and protect its future. Independent of the Toyota Industries buyout, a growing number of Toyota Motor shareholders have over the years started to oppose Toyoda's inclusion on the carmaker's board. His share of affirmative votes fell from 96 per cent in 2022 to 85 per cent in 2023 and a record low 72 per cent last year. This year's tally will likely be available in a few days once votes are counted. Shareholders' concerns center primarily around corporate governance, including accountability for safety scandals. Toyota and its group companies, including Daihatsu Motor Co. and Toyota Industries, have faced multiple certification testing violations that have raised questions about the company's internal controls and oversight. Toyota's handling of the scandals led a pair of firms that advise large investors — Glass Lewis & Co. and Institutional Shareholder Services Inc. — to vote against Toyoda's reelection in 2024. This year, however, both have backed his reappointment. 'There are no particular concerns about the nominee,' ISS said in May.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store