Latest news with #Nissan
Yahoo
an hour ago
- Automotive
- Yahoo
Toyota, Honda, Nissan stocks soar on trade pact as Big 3 say it's a 'bad deal'
Toyota (TM), Honda (HMC), and Nissan (NSNHF) stocks surged on Wednesday morning on confirmation that the Trump administration and Japanese government struck a trade deal. 'We just completed a massive Deal with Japan, perhaps the largest Deal ever made,' President Trump announced on Truth Social on Tuesday night. Trump added Japan would pay a 'reciprocal' tariff on imports of 15%, as well as invest $550 billion into the US 'at my direction,' Trump said, without further elaboration. Per Reuters, Japan's Prime Minister Shigeru Ishiba confirmed that auto tariffs will be lowered to 15% from the current 25% auto sector tariffs as part of the deal. By comparison, prior to Trump's imposition of sector auto tariffs, Japanese car imports were subject to only 2.5% tariffs. Read more: The latest news and updates on Trump's tariffs Despite this, clarity on a trade deal and a 'reduction' in auto tariffs of essentially 10% have Japanese automaker stocks soaring, with US-listed Honda shares hitting a new 52-week high. Spokespersons for Honda and Nissan did not immediately respond when reached for comment. A Toyota spokesperson said the company had no official comment at this time. The deal is a big accomplishment of the Japanese government and Ishiba, as automobile exports to the US make up nearly 30% of Japan's global auto exports, with the auto sector in general a significant part of the Japanese economy. While news of a trade deal with Japan is boosting the auto sector at large on hopes of trade deals with other countries, Detroit's Big Three automakers — General Motors (GM), Ford (F), and Stellantis (STLA) — aren't pleased. 'Any deal that charges a lower tariff for Japanese imports with virtually no US content than the tariff imposed on North American-built vehicles with high US content is a bad deal for US industry and US auto workers,' Matt Blunt of the American Automotive Policy Council (AAPC), a trade group representing the Big Three, said to Automotive News. Read more: What Trump's tariffs mean for the economy and your wallet Blunt and the AAPC argue that autos compliant with the United States-Mexico-Canada Agreement (USMCA) that are made in Canada and Mexico, where the Big Three have large operations, currently face 25% auto sector tariffs, with certain exclusions given for USMCA-compliant parts. In addition, auto parts made in the two countries face 25% tariffs. In addition, Trump threatened to hike tariffs on Mexico to 30% and Canada to 35% on Aug. 1, though it is unclear if those heightened duties would affect autos. Ford CEO Jim Farley has argued in the past that if Trump strikes a similar deal with Korea, for example, it would again reward those automakers who make only some of their vehicles in the US and North America and punish domestic automakers who build in Mexico and Canada. Ford and Farley will give investors an updated statement on the tariff situation when the company reports second quarter earnings on July 30. On Tuesday GM reported Q2 earnings took a $1.1 billion hit due to Trump's tariffs, and Stellantis revealed on Monday that it lost $2.7 billion in the first half of the year due to a combination of lagging sales and tariffs. Pras Subramanian is the lead auto reporter for Yahoo Finance. You can follow him on X and on Instagram. Sign in to access your portfolio
CBS News
an hour ago
- CBS News
Chicago police searching for 2-year-old girl kidnapped by armed group from Bronzeville home
Chicago police are searching for a 2-year-old girl kidnapped from an apartment in the city's Bronzeville neighborhood by an armed group early Wednesday morning. Police said three people armed with guns forced their way into the building and then an apartment unit in the 4800 block of South Michigan Avenue just before 5 a.m. The group included a woman known to the child and two men, police said. They took the child before stealing a gray Nissan hatchback and other items from the home, and fled with the child in the stolen car. No Amber Alert has been issued at this time and CPD said the incident appears to be domestic. It is unclear if that determination is why an Ambert Alert has not been issued. An investigation by Area One detectives is ongoing.
The Drive
2 hours ago
- Automotive
- The Drive
Gran Turismo 7 Adds the Baddest R34 GT-R of Them All in July Update
The latest car news, reviews, and features. If you have been following Gran Turismo 7's updates this year, you may have noticed something strange. Polyphony Digital suddenly seems to be enamored with crossovers. It's a somewhat depressing trend; over the last six months, the game has received the prior-gen Honda CR-V, Peugeot 2008, Mazda CX-30, and Toyota C-HR. As July winds to a close, it looks like the Nissan Qashqai is about to join their ranks. I can stomach it, though, because on the other end of the spectrum, we're also getting the baddest R34 Skyline GT-R of them all, in the Nismo Z-Tune. GT7's Update 1.61 will go live in the early hours of Thursday morning, and it'll bring those two additions, as well as the Honda N-One RS: a modern kei car with a six-speed manual and turbocharged three-cylinder making the maximum 63 horsepower that Japan allows for vehicles in that class. The little Honda feels like one of those cars you'd expect to discover and fall in love with in a Gran Turismo game. The Qashqai, on the other hand, is a cynical reminder that the automotive landscape that the series reflects today is quite different from the one it materialized in during the late '90s. I understand that argument that today's crossovers are the compact commuters of yesteryear, but they're not as fun to drive or tune, with their tall centers of gravity and powertrains engineered for efficiency at the cost of all else. The CR-V that joined the game this past spring had a CVT, for example, which locks it out of any meaningful upgrades. The Nissan is expected to behave similarly, as it's a hybrid. At least in GT's early days, you could take your starter used Civic and upgrade it until it was nipping at the heels of Lancer Evos and Supras, but that just isn't possible with these small SUVs. So that leaves us with the Nismo Z-Tune, which isn't a terrible consolation prize at all. This is the ultimate R34 GT-R, commemorating the 20th anniversary of Nissan's performance arm back in 2004. Here, Nismo bored and stroked the twin-turbo RB26 to produce a staggering 500 hp and 398 lb-ft of torque, and added a titanium exhaust, Sachs bolt-on dampers, and bespoke Brembo brakes, just to name a few performance-minded goodies. Only 20 Z-Tunes were built, both to represent the anniversary and because, by 2004, the R34 GT-R was already out of production. Gran Turismo has always been known for representing the Skyline GT-R lineage perhaps a little too well, but the Z-Tune has somehow never appeared in the franchise before, so this is a big moment. Sony Interactive Entertainment Elsewhere, you can expect the usual drip feed of races, a new track for the Sophy AI to compete on (High-Speed Ring), and new Scapes locales to snap photos. I say it every time I cover one of these updates, but you've got to wonder how many more of these Polyphony has stashed before it packs up GT7 and moves right onto GT8 . Then again, perhaps that won't land until the PlayStation 6 does. Got tips? Send 'em to tips@
Time of India
2 hours ago
- Automotive
- Time of India
Renault India to roll out 4 new products in the next 2 years
Chennai: Renault India plans to roll out four new products in the next two years including the new Triber which was rolled out on Wednesday. The company expects its new product lineup and that of its alliance partner Nissan to ensure better capacity utilisation at its Oragadam plant, said a top company official. Venkatram Mamillapalle, MD, Renault India said, 'The future lineup which we have announced — which includes four products in the next two years – along with what the products our alliance partner will come up with together will help us reach and utilize our full capacity.' Consequently, he added, the company will not need to 'look for any outsider to come and fill our volumes at this point in time' through contract manufacturing. The Triber, he said, is coming in just before the onset of the festival season with Onam with demand expected to bounce back around this time. 'The pullback we saw in H1 will reverse possibly with double the momentum in H2,' he added. The H1 tepid demand, he explained, was on account of many uncertainties including supply chain issues, rare earth concerns, and shifting global trade dynamics like tariff changes. 'All of this impacted sentiment and created a kind of market hesitation,' he said. 'But I am very optimistic that the festive season will help the entire industry recover.' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
&w=3840&q=100)
Business Standard
2 hours ago
- Automotive
- Business Standard
Will wait for EV ecosystem to mature before making entry: Renault India CEO
The company also said it is expecting to complete the acquisition of Nissan stake in the Chennai manufacturing plant 'very soon' Press Trust of India Mumbai French auto major Renault is looking for the EV ecosystem in India to mature before getting into the space. The company also said it is expecting to complete the acquisition of Nissan stake in the Chennai manufacturing plant "very soon." Earlier, Renault rolled out the all-new, seven-seater Multi Purpose Vehicle (MPV) Triber at a starting price of Rs 6.29 lakh (ex-showroom). "We are doing our analysis. We are looking for the whole ecosystem to mature before we put the product in place," said Venkatram Mamillapalle, Managing Director at Renault India. Currently, what Renault India is looking for is the "maturity of the market, the regulation and the ecosystem. All three together," he added. He said that the company is going to be there in multi-powertrain options, including electric, adding, "We will take an appropriate time to announce the launches, and one at a time. " "CNG and gasoline are already there. So we are talking about other energies. The endeavour to come to that level is very quick," he said. "We have everything at arm's length, whether it's hybrid ethanol or EVs, everything is available with us, so we don't need to seek technology. It's in my kitchen. It's as and when the maturity happens, the market picks up because it's very important that there is a proper ecosystem for adaptability of a customer," he said. "So, we are looking up for the market. We are waiting for the right moment," Mamillapally said. He said the launch of all-new Kiger is the beginning of the company's plans of bringing four products in the next two years. "But that is not just the end of the story again. It's a continuation of our lineup which will happen," he said.. Currently, Renault has three offerings in its India portfolio the MPV Triber, compact SUV Kiger and hatchback Kwid. In the April-June quarter of this fiscal. Renault India domestic sales declined 30 per cent at 7,729 units from 10,969 vehicles in the year-ago period. The company's market shares currently stands at less than 1 per cent. Renault has set a target of having a 5 per cent market share in the world's third-largest car market by sales volume. He said that more than the market share, the company's first priority is to utilise the plant capacity that it has, with its partner, Nissan India. Renault Group in March this year announced signing a Framework Agreement with Nissan for acquiring its 51 per cent stake in Renault Nissan Automotive India Private Ltd (RNAIPL). On all new Triber, Mamillapalle said, "India remains a cornerstone of Renault's global strategy, driven by a strong product pipeline, expanding export operations, and a renewed focus on customer satisfaction." The new Triber is over 90 per cent localized, underscoring Renault's long-term commitment to the Indian market, he said.
