Japanese Manufacturers Cutting Costs Due To Rising Yen

Japanese Manufacturers Cutting Costs Due To Rising Yen
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Reports are coming in that Japanese auto manufacturers are looking for ways to cut costs on vehicles being exported to the United States in order to squeeze profits due to the record high yen against the dollar. A prime example is the new GS 350 from Lexus, that has been highly anticipated and praised by… Continue Reading...

Acura MDX To Be Built In Alabama To Offset Rising Yen

Acura MDX To Be Built In Alabama To Offset Rising Yen
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Honda announced today that they would use excess capacity at their Alabama plant following a $300 million investment in the facility. The investment will allow for a total of 340,000 units anually. Rising exchange rates are forcing Honda to devote more resources to North American production while reducing exports. Honda will shift their Acura MDX… Continue Reading...

Honda Reducing Exports By Half As A Reponse To Rising Yen

Honda Reducing Exports By Half As A Reponse To Rising Yen
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The rising yen is making exports from Japan increasingly unprofitable and Honda is looking to cut vehicle exports by 50 percent over the next 10 years as a response to the change in currency valuations. Honda hopes to sell as much as 90 percent of its vehicles in markets that can use locally sourced vehicles…. Continue Reading...

Nissan CEO Ghosn: Rising Yen Could Force Production Out Of Japan, Electric Cars To Be Built In China

Nissan CEO Ghosn: Rising Yen Could Force Production Out Of Japan, Electric Cars To Be Built In China
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Nissan CEO Carlos Ghosn said that the Japanese government’s effort to keep the yen’s value under control had failed and that Nissan was strongly considering moving production out of Japan and into foreign countries. A weakened United States dollar has meant that the value of the greenback has shifted from 91 yen per dollar to… Continue Reading...

Mitsubishi Slashes EV Price To Increase Sales

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Mitsubishi Slashes EV Price To Increase Sales
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Mitsubishi is becoming much more aggressive regarding future EV sales in its home market of Japan. Currently Mitsubishi’s i-MiEV sells for 3.98 million yen which equals $49,200. Government subsidies bring the price down a million yen equalling $36,900. The i-MiEV’s chief rival, the Nissan Leaf costs 3.76 million yen which equals $46,500 before subsidies and is… Continue Reading...