Latest news with #NorthAmerica-bound
The Star
3 days ago
- Automotive
- The Star
Japan factory declines slow in May but tariff worries persist, PMI shows
Workers assemble Honda Motor Co. North America-bound Fit vehicles on the production line at the company's Suzuka factory in Suzuka, Mie, Japan, on Tuesday, Aug. 23, 2016. Photographer: Kiyoshi Ota/Bloomberg TOKYO: Japan's factory activity shrank at the slowest pace in five months in May as the decline in new orders eased, but worries over U.S. tariffs have dampened the recovery from an almost year-long contraction, a private-sector survey showed on Monday. The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) rose to 49.4 in May from 48.7 in April, marking the 11th consecutive month of staying below the 50.0-line that indicates contraction. Still, the reading was higher than the flash figure of 49.0 and the highest so far this year. "Manufacturing conditions in Japan moved closer to stabilisation in May, according to latest PMI data, with companies signalling a softer decline in sales and improved jobs growth," said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, which compiled the survey. Among sub-indexes, new orders fell for the 24th straight month, with manufacturers citing U.S. tariffs and increased client hesitancy as factors behind subdued demand conditions. Factory output also contracted for a ninth consecutive month, at a quicker pace than in April, the survey showed. To mitigate the impact of the U.S. tariffs on cars and other manufacturing sectors, which are the backbone of the Japanese economy, Tokyo has held four rounds of trade talks with Washington and plans a fiscal package to support households and businesses. In a positive sign, input cost inflation eased to a 14-month low in May, while output price inflation slowed to the softest in nearly four years. Employment increased for the sixth month in a row as firms filled vacancies and prepared for anticipated production increases, according to the survey. Business confidence on future output strengthened from April's near five-year low, with firms citing expectations of stronger market demand particularly in the semiconductor industry. However, some expressed concerns over U.S. tariffs, inflation and Japan's declining population as potential headwinds to growth, the survey showed. - Reuters
Yahoo
14-05-2025
- Business
- Yahoo
Passenger numbers up at Germany's Frankfurt Airport in April
Passenger numbers at Germany's Frankfurt Airport rose by 4.8% to 5.34 million in April year-over-year, the operator said on Tuesday. Operator Fraport said the rise was fuelled by the Easter holiday, a period many Germans traditionally use for an early getaway. The number of passengers was still only 85.2% of the levels seen in April 2019, before the coronavirus pandemic. The highest number of travellers was recorded on April 11, with 198,000 passengers passing through Germany's biggest airport. European traffic was particularly dynamic in April, with passenger growth of 6.8%. Domestic flights to and from Frankfurt also saw a 3.3% increase in passengers compared to the same month last year. The number of North America-bound travellers fell by 1.9% despite the Easter holidays.
Yahoo
03-03-2025
- Automotive
- Yahoo
Honda Won't Build Civic Hybrid in Mexico Because of Looming Tariffs
has reportedly scrapped plans to shift production of the next-generation to Mexico. Instead of Guanajuato, Mexico, the Civic will instead be produced at the automaker's Greensburg, Indiana facility alongside the . The change in plans comes the day before the Trump administration puts 25 percent tariffs into effect on both Canada and Mexico. A new report from Reuters details a change in Honda's production plans, with the automaker ditching previous plans to move Honda Civic Hybrid production to Mexico. According to the Reuters report, which was released on the eve of the Trump administration's 25 percent tariffs on Canada and Mexico, Honda will produce the next-generation Civic at its Greensburg, Indiana facility. Outside of the Civic Type R which is built in Japan, Honda currently splits production for North America-bound Civics and CR-Vs between its production facilities in Indiana and Ontario, Canada. Reuters cites three anonymous sources who confirmed initial plans for Honda to move Civic production to Guanajuato, Mexico. The new location was picked due to rising costs in Indiana and Canada. According to the sources, production at the Mexico facility was scheduled to begin in November 2027. The revised plans will see the Indiana-based production start in May 2028—a six-month delay. The same anonymous sources cite an expected annual production of around 210,000 cars, with Honda looking to import from countries not impacted by the tariffs should the production expectations fall short. Civic sales were up 21 percent last year, placing it 10th on the highest-selling list in the United States, and giving it an annual sales figure of just over 242,000. While about 40 percent of Honda's U.S. sales each year are imported from Canada and Mexico, the company also exports roughly 60,000 American-made cars to those countries, meaning any retaliatory tariffs would further hurt the automaker. Car and Driver reached out to Honda for confirmation on the change in production plans and will update this story if we hear back. You Might Also Like Car and Driver's 10 Best Cars through the Decades How to Buy or Lease a New Car Lightning Lap Legends: Chevrolet Camaro vs. Ford Mustang!
