Latest news with #HondaMotor
Nikkei Asia
4 days ago
- Automotive
- Nikkei Asia
US auto industry blasts Japan tariff agreement as 'bad deal'
Japanese automakers such as Honda Motor will benefit from lower tariffs on exports to the U.S., but still face higher rates on exports from Mexico. © Reuters AZUSA KAWAKAMI NEW YORK -- The 15% tariff rate on Japanese autos and auto parts agreed in this week's deal between the U.S. and Japan has angered the U.S. auto industry, which still faces a 25% rate on its imports from elsewhere in North America. The three major American automakers -- General Motors, Ford Motor and Stellantis -- buy parts from countries with low labor costs, such as Mexico, to assemble in American factories. They also bring in finished vehicles from Mexico and Canada, as well as South Korea in GM's case. GM and Stellantis import around 40% to 50% of the vehicles they sell in the U.S.
NHK
5 days ago
- Automotive
- NHK
Lower US tariff seen reducing hit on Japanese automakers by $10 bil.
The recent trade deal between Japan and the United States is projected to reduce the tariff impact on Japanese automakers by about 1.5 trillion yen, or 10 billion dollars, according to the investment house Goldman Sachs. The agreement drastically cut the tariff on Japanese cars from 25 percent to 15 percent. Goldman Sachs estimates the gross impact on the operating profits of seven major carmakers in the current fiscal year will now be 1.89 trillion yen, or 13 billion dollars, down from 24 billion dollars. Under the new levy, Toyota Motor's operating profit is projected to drop by 872 billion yen, or nearly 6 billion dollars. That is far less than the 11 billion dollars expected if the higher tariff had remained. For Honda Motor, the loss is now projected at 305.2 billion yen, or 2.1 billion dollars, down from 3.8 billion dollars. But people in the industry say the tariff is still high, and difficult to bear. An official at Mitsubishi Motors says the impact is considerable and it is hard to be optimistic, even if the tariff is lowered further. Mitsubishi reported an operating profit of 5.6 billion yen, or about 38 million dollars, for the April-June quarter, down 84 percent from a year earlier. It says profit fell by about 97 million dollars due to the tariff impact.
Yahoo
5 days ago
- Automotive
- Yahoo
Honda launches approved EV charging adapters in the US
Japanese automaker Honda Motor announced that owners of its electric vehicles (EVs) can now access the Tesla Supercharger network in the US, after it launched its new Honda-approved NACS-CCS adapter. Owners of models such as the Honda Prologue and the Acura ZDX can purchase the adapters from authorized Honda and Acura dealerships across the US and online from the official Honda DreamShop website. The DC adapters, priced at US$ 221, give Honda and Acura customers access to around 23,500 Tesla Supercharger stations in the US. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You Ryan Harty, assistant vice president of Sustainability & Business Development at American Honda Motor Company, said in a statement: "Planning a road trip just got a lot easier for our Honda and Acura EV owners with access to the Tesla Supercharger network. Combined with other growing charging networks, Honda and Acura EV drivers now have added peace of mind with a wider range of dependable DC fast charging options nationwide." The move comes as Honda prepares to expand its battery electric vehicle (BEV) range globally, including the US. The automaker sold a total of 1.424 million vehicles in the US in 2024, a 9% increase on the previous year. Sales increased by a further 7% to 739,000 units in the first half of the year. Honda said that it expects owners of Honda and Acura EVs will have access to up to 100,000 DC fast-charge points across North America by that by 2030, including the Ionna, Tesla Superchargers, EVgo and other open charging networks. "Honda launches approved EV charging adapters in the US" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Nikkei Asia
11-07-2025
- Automotive
- Nikkei Asia
Honda to roll out motorized chair, aiming to avoid Segway's fate
Honda is offering test rides in its Uni-One at the World Expo 2025 in Osaka. (Photo by Shoya Okinaga) SHOYA OKINAGA TOKYO -- Honda Motor will start offering its Uni-One motorized chair to businesses from autumn, hoping that hands-free ease of use will help the wheelchair-like device succeed where the headline-grabbing Segway once failed. Honda is offering test rides at the World Expo 2025 in Osaka, with up to about 50 slots per day of 15 minutes each outdoors. Some visitors come to the expo just to take the chair for a spin.
Canada News.Net
10-07-2025
- Business
- Canada News.Net
Wall Street drops, yen weakens on Trump's new trade salvos
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round of tariffs, targeting major Asian allies and injecting new uncertainty into global trade. Major stock indexes declined while the dollar strengthened against major currencies on Monday as Trump announced 25 percent tariffs on goods from Japan and South Korea. The White House is expected to make further trade moves in the coming days. Longer-dated U.S. Treasury yields edged higher. Trump said on Monday the U.S. would impose a 25 percent tariff on imports from Japan and South Korea beginning August 1, unveiling the first two of what he described as a series of letters to trading partners detailing new levies. U.S.-listed shares of Japanese automakers dropped sharply, with Toyota Motor down 4.1 percent and Honda Motor off by 3.8 percent. Treasury Secretary Scott Bessent said earlier this week that the United States is expected to make several trade announcements within 48 hours. A self-imposed deadline to finalise deals looms on July 9. "We're down (in stocks) after the long weekend, and it's somewhat of a critical week in terms of the tariffs," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. "The prospect of what may or may not happen with the trade deals... is causing investors to be somewhat cautious." While tariffs are likely to increase prices and slow growth, market participants say uncertainty about future policies is an even greater drag, causing companies to delay key decisions. S&P 500 companies will soon begin reporting second-quarter earnings. Trump had previously announced in April a 10 percent base tariff on most countries and higher "reciprocal" rates of up to 50 percent, with a Wednesday deadline. He also warned levies could reach "maybe 60 percent or 70 percent" and threatened an additional 10 percent for countries aligning with the BRICS bloc—Brazil, Russia, India, and China. On Monday, the Dow Jones Industrial Average fell 515.77 points, or 1.15 percent, to 44,314.92. The S&P 500 dropped 56.23 points, or 0.90 percent, to 6,222.20, while the Nasdaq Composite slipped 195.58 points, or 0.97 percent, to 20,404.31. Tesla shares were down 7.4 percent after CEO Elon Musk announced the launch of his new U.S. political party, the "American Party." MSCI's global stock index dropped 0.76 percent, while the pan-European STOXX 600 rose 0.44 percent. The yield on benchmark U.S. 10-year notes rose to 4.391 percent, up 5.1 basis points from Thursday. The dollar index rose 0.58 percent to 97.53, with the euro down 0.59 percent at US$1.1709. The dollar also strengthened 1.04 percent against the Japanese yen to 146.02. Markets now await minutes from the Federal Reserve's last meeting and further clarity on interest rate cuts after stronger-than-expected June U.S. jobs data. The Reserve Bank of Australia is expected to lower rates by a quarter point to 3.60 percent at its Tuesday meeting, marking the third rate cut in the cycle.
