Tokyo―TOYOTA MOTOR CORPORATION (TMC) announces a recall related to the software program that controls the antilock braking system (ABS) in current-model "Prius", "Prius Plug-in Hybrid", "Sai" and "HS250h" sold in Japan. The recall, for which TMC submitted notifications today to Japan's Ministry of Land, Infrastructure, Transport and Tourism, concerns approximately 223,000 vehicles.
"Let me assure everyone that we will redouble our commitment to quality as the lifeline of our company. With myself taking the lead, all of us at Toyota will tackle the issue in close cooperation with our dealers and with our suppliers. Together, we will do everything in our power to regain the confidence of our customers," said TMC President Akio Toyoda, regarding the recall.
Both a hydraulic braking system and a regenerative braking system work in unison in ordinary driving conditions. Drivers of the four models subject to the recall may experience reduced braking performance resulting in increased braking distance when their vehicles switch at low speed to hydraulic braking-only to activate ABS (which is used to stabilize handling on slippery surfaces, such as snowy and icy roads).
Applying increased pressure to the brake pedal when ABS is activated will produce the intended braking performance. TMC has undertaken the recall, however, in the interest of ensuring customer confidence. Its corrective ABS software programming will resolve the problem. TMC will begin notifying owners through its dealers today, and dealers will begin conducting the corrective reprogramming for the Prius, which is expected to take approximately 40 minutes per vehicle, on February 10.
Worldwide, Toyota has sold about 400,000 of the vehicles subject to the recall announced today in Japan. The company will take remedial measures as soon as possible in the United States, Europe and other regions.
We submitted recall notifications earlier today to the Ministry of Land, Infrastructure, Transport
and Tourism in regard to four models: the “Prius”, the “Prius Plug-in Hybrid”, the “Sai” and the
“HS250h” sold in Japan. The notifications are in regard to the issues in braking systems employed
in those models.
Our dealers will inform customers who have purchased the Prius model in question over the next
few days. We urge the owners to take their vehicles into the dealers for a repair to resolve the
problem.
I regret the quality and safety issues that have caused concern for our customers.
Regarding the four models recalled, although it is very difficult to describe, a phenomenon occurs
in which the brakes seem to “soften” for a split second when the antilock braking system comes into
play at slow speeds on snowy or otherwise extremely slippery road surfaces.
We have heard concerns from customers about this issue, and we are recalling the cars in question
to resolve the problem completely. We are determined to ensure that our customers can feel
absolutely at ease with their vehicles.
This recall pertains to about 400,000 vehicles worldwide. We will take appropriate measures as
soon as possible for the good of our customers in the United States, Europe and other regions.
In addition to the Prius, we are now preparing remedies for the other three models. We will
suspend sales of those three models, or suspend deliveries to customers in the case of completed
purchases, until we have prepared the solutions.
I apologize for the uncertainty that vehicle owners will experience while awaiting the repairs.
Please know that sustained pressure on the brake pedal will bring the car to a stop, even in the kind
of conditions that I have described. Please keep that in mind when driving in such conditions.
For us at Toyota, this episode is an occasion for redoubling our commitment to quality as our most
fundamental principle―indeed, as the very life of our company. I will take charge personally of a
coordinated effort by everyone at Toyota, at our dealers, and at our suppliers to regain the
confidence of our customers. And I assure you we will devote ourselves―heart and soul―to that
effort.
Thank you.
Suzuki Motor Corporation’s Indian subsidiary, Maruti Suzuki, produced 966,069 cars from January to December 2009 (up 27% from the year before). Maruti Suzuki now forecasts production of 1,027 thousand units for the fiscal year from April 2009 to March 2010, meaning that its production will exceed one million units on both a calendar-year basis and a fiscal-year basis for the first time.
In expectation of continued growth in the Indian car market, Maruti Suzuki will invest 17 billion rupees (about \33 billion) in new facilities at its Manesar plant to increase the plant’s annual production capacity to 550 thousand units from the current 300 thousand units. The new facilities are scheduled to start operating in spring 2012. As a result, Maruti Suzuki will have annual production capacity of 1.25 million units (700 thousand units at its Gurgaon plant; 550 thousand units at its Manesar plant).
Suzuki car production in India began with the Maruti 800 in 1983. The Indian car market was no bigger than 100 thousand units per year at that time. Owing to economic deregulation initiated in 1991, the market began growing rapidly in the mid-1990s. In 2009, the Indian market for passenger cars exceeded 1.5 million units. Maruti Suzuki has a 55% market share.
Yamaha Motor Co., Ltd. (the “Company”) has allocated an additional business structure improvement expense in its financial settlement for the fiscal year ended December 31, 2009 (fiscal 2009). In line with this addition, the Company has also revised the consolidated and non-consolidated forecast financial results for fiscal 2009, originally released August 4, 2009.
1.Allocation of business structure improvement expensesThe Company allocated business structure improvement expenses totaling 103,729 million yen (79,377 million yen on a non-consolidated basis) as extraordinary losses in the consolidated statement of income for fiscal 2009. These expenses primarily resulted from the impairment loss on fixed assets at consolidated subsidiaries in Japan, Europe and the United States, and from the early and/or voluntary retirement of employees.
The Company had to provide the additional allowance for business structure improvement expenses in response to projected declines in developed nations’ fiscal 2010 demand, which will be worse than originally forecast. In total, the business structure improvement expenses for fiscal 2009 now consist of 73,466 million yen (59,935 million yen on a non-consolidated basis) allocated in the consolidated statement of income for the first nine months of fiscal 2009, together with the additional allocation of 30,262 million yen (19,442 million yen on a non-consolidated basis).
2.Revised forecast financial results for fiscal 20091) Revised forecast consolidated/non-consolidated financial results (January 1 through December 31, 2009)
�� Consolidated
�� Non-consolidated
2) Main reasons for the revision
The revised forecast consolidated financial results for fiscal 2009 are: 1,153.6 billion yen in net sales, an increase of 53.6 billion yen from the previous forecast; 62.6 billion yen in operating loss, an increase of 24.4 billion yen in operating income; and 68.4 billion yen in ordinary loss, an increase of 17.6 billion yen in ordinary income. These changes from the forecast consolidated financial results released August 4, 2009 are mainly attributable to robust motorcycle sales in Asia (excluding Japan) and implementation of an emergency plan including expense- and cost-cutting measures.
Reflecting business conditions in developed nations -- where no short-term business recovery is anticipated -- the Company has determined that it must further reduce fixed costs. Therefore, the impairment loss on fixed assets, as well as the expenses incurred by the retirement of employees (including those in the voluntary retirement program), were allocated as additions in the non-consolidated financial statement of income for fiscal 2009. As a result, the business structure improvement expenses exceeded the amount originally projected by approximately 50 billion yen.
Consequent to these developments, non-consolidated net loss is projected to increase 38.5 billion yen from the previous forecast, to 158.5 billion yen, while consolidated net loss is expected to rise 34.2 billion yen, to 216.2 billion yen.
3) On February 12, 2010, the Company will officially disclose key information related to its performance: financial results for fiscal 2009; forecast financial results for fiscal 2010; and the new three-year medium-term management plan. Launched in 2010, the plan addresses structural reform designed to regain profitability, and strategies toward realizing further growth.
Tokyo, February 5, 2010 - Fuji Heavy Industries Ltd. (FHI), the maker of Subaru automobiles, today announced that it will exhibit the “SUBARU HYBRID TOURER CONCEPT” as an European premiere and unveil the “Subaru Impreza XV” as a world premiere, which will be marketed this summer in Europe, at the 80th Geneva International Motor Show slated for March in Geneva, Switzerland (Press day: March 2 and 3; Open to the public from March 4 through 14). It will also showcase the “Subaru Plug-in STELLA”, a production electric vehicle launched in Japan last year, “BOXER DIESEL” models, and highlight Subaru’s unique Horizontally-Opposed Boxer Engine technologies. With these exhibits and throughout the booth design, FHI will showcase Subaru’s efforts to integrate enjoyable and reliable driving with environmentally friendly solutions. The press conference by President Ikuo Mori is scheduled at the Subaru booth on March 2, 2010 at 15.45h
Subaru booth image
Employing the Subaru’s core technology of “Symmetrical All-Wheel Drive (AWD)” and “Horizontally-Opposed Boxer Engine”, the “SUBARU HYBRID TOURER CONCEPT” reflects Subaru’s vision of the future grand touring car. Presented with an eye-catching sculpted exterior design, the concept offers an ideal combination of Subaru’s authentic driving performance, all-round safety features and environmental friendliness provided by its unique hybrid system.
Length x Width x Height: 4,630 x 1,890 x 1,420mm
Power Unit: 2.0-litre Horizontally-Opposed direct fuel-injection turbo gasoline engine plus two motors 1/2
The “Subaru Impreza XV”, developed on the basis of the iconic Impreza 5-door model, offers a new crossover styling. Exclusively designed front grille and wheel arch, and specially equipped roof rails and a roof spoiler accentuate the uniqueness of this special Impreza version. The available 2.0-litre Horizontally-opposed petrol engine and the turbo BOXER DIESEL engine comply with European EURO 5 regulations for enhanced environmental friendliness.
Length x Width x Height: 4,430 x 1,770 x 1,520mm (1,515mm for Diesel model)
Wheelbase: 2,620 mm About
Fuji Heavy Industries Ltd.
Fuji Heavy Industries Ltd. (FHI), the maker of Subaru automobiles, is a leading manufacturer in Japan with a long history of technological innovations that dates back to its origin as an aircraft company. While the automotive business is a main business pillar, FHI’s Aerospace, Industrial Products and Eco Technologies divisions offer a diverse range of products from general-purpose engines, power generators, and sanitation trucks to small airplanes, crucial components for passenger aircrafts, and wind-powered electricity generating systems. Recognized internationally for its AWD (all-wheel drive) technology and Horizontally-Opposed engines in Subaru, FHI is also spearheading the development of environmentally friendly products and is committed to contributing to global environmental preservation
At the Board of Director’s Meeting held on February 5, 2010, Yamaha Motor Co., Ltd. (the “Company”) has adopted a resolution implementing a voluntary retirement program, described below.
1. Main reasons for implementing the voluntary retirement programIn response to the challenging business conditions caused by a sudden decline in product demand in developed nations, the stronger yen, and increased fixed costs, the Company began taking emergency measures in fiscal 2009, reducing expenses and procurement costs, temporarily suspending factory operations in Japan, and curtailing capital expenditures. In addition, the Company has been working toward business recovery by promoting profitability reforms, such as improving the efficiency of its factory operations and relocating personnel in Japan, while registering an impairment loss on production facilities and equipment, in order to reduce the fixed costs of businesses in developed nations.
On the personnel front, in fiscal 2009 the Company stopped mid-career employment, restrained graduate recruitment, relocated personnel, transferred employees to companies outside the Yamaha Motor Group, initiated work sharing, promoted a career redirection program, and reduced salaries and bonuses, among other measures.
However, reflecting business conditions in developed nations -- where no short-term business recovery is anticipated -- the Company has determined that it must further reduce fixed costs. To curtail personnel expenses and increase management efficiency, the Company will initiate a program involving streamlining the workforce.
2.Outline of the voluntary retirement program and implementation(1) Number of employees targeted for voluntary retirement
Approximately 800
(2) Period of the offer
Scheduled to start from August 2010
(3) Retirement date
Scheduled from October 2010
* The Company will work out the details of implementing the voluntary retirement program in discussions with the labor union.
3.Prospects moving forwardSpecial incentives and other expenses for employees voluntarily taking early retirement -- amounting to 11,004 million yen -- are allocated as "business structure improvement expenses," classified as extraordinary losses in the non-consolidated financial statement of income for the fiscal year ended December 31, 2009. A revised financial forecast reflecting this additional allowance is also being announced today.
Considering the current business trend, Fuji Heavy Industries Ltd. (FHI) has announced the revision of performance projection and the forecasted dividend for the fiscal year ending March 2010 which was released at the timing of consolidated financial results announcement on November 2, 2009.
1. Revised projection figures for the fiscal year ending March 2010 (April 1, 2009 to March 31, 2010) (1) Details of revision
(2) Reason of revision
We have revised our performance projection for the fiscal year ending March 2010 as shown above, because we expect an increase in sales volume and continued cost reduction effects beyond the projection announced on November 2, 2009. Regarding net loss for the current fiscal year, the previous projection has been maintained due to the anticipation of further extraordinary loss. Furthermore, foreign exchange rates for the fourth quarter will be 90 yen to the US dollar (88 yen in the previous estimate) and 131 yen to the euro (130 yen in the previous estimate). As a result, the exchange rates for the full year will be 93 yen to the US dollar and 133 yen to the euro.
2. Revision of forecasted dividend (1) Details of revision
(2) Reason of revision
We views the return of profits to shareholders as an important issue for management, and follows a basic policy of maintaining stable long-term dividends while taking comprehensive consideration of such factors as its earnings performance and dividend payout ratio. However, although we expect upward momentum in our performance projection for the fiscal year ending March 2010, we also anticipate a net loss for the current period, as shown in the revised projection above. Therefore, we deeply regret that we suspend year-end dividends as revised the above table as the strict business conditions will continue.
Note: Above mentioned projections are based on certain assumptions and our management's judgment in light of currently available information, therefore actual results may differ from these projections.
An online presentation of the 2010 Fiat Yamaha Team make-up and planned activities.In the 2008 and 2009 MotoGP seasons, Yamaha achieved its ambitious goal of winning the Triple Crown of Rider, Team and Constructor championship titles. Now, in 2010, Yamaha is undertaking an even more ambitious challenge. It is the challenge to not only defeating our rivals but also exceeding our own achievements of the past two seasons. We now begin out greatest challenge of all: the campaign to win a third consecutive Triple Crown.
Here you will find interviews with Valentino Rossi, Jorge Lorenzo and three other key figures in this campaign for a third Triple Crown and wallpapers featuring the 2010 Fiat Yamaha Team.
http://www.yamaha-motor.co.jp/global/race/2010fyt-launch/index.html
Subaru sales of 3260 vehicles in January were up 7.8 per cent on the same month last year, according to official VFACTS figures released today.
New generation Liberty (Legacy) and Outback are proving a huge success for the Symmetrical All-Wheel Drive brand – Liberty (Legacy) sales of 654 were up 37.1 per cent on January 2009, making it the best-selling imported medium car for the month.
Outback sold 435, up a massive 76.8 per cent, while Forester sales of 1205 maintained its best-selling SUV Compact status.
Impreza sales of 873 and Tribeca, 93, rounded out the Subaru result.
Subaru’s January market share was 4.4 per cent.
Among the standout regional results, Subaru achieved a 9.1 per cent market share in Tasmania and 6.6 per cent in the ACT.
In a global market that contracted 4.5%, the Renault Nissan Alliance, including for the first time the sales of the AvtoVaz Lada brand, captured 9.8%* of the global market in 2009. In 2008, the Alliance without Lada had a share of 9.4%.
Renault and Nissan sold 2,309,188 and 3,358,413 vehicles respectively. Sales of Lada accounted for 417,457 units. Renault's worldwide sales decreased by 3.1% and Nissan's by 9.4%.
Renault highlightsThe Renault Group's market share increased to 3.7% in spite of declining sales (-3.1%). Of the Group's 15 biggest markets, 11 reported a market share increase.
In Western Europe, Renault reclaimed the position of third-ranked brand, mainly owing to the success of the Mégane family and Twingo. In the LCV market, the Group's market share rose 1.2 points to 15.6%. The Renault LCV brand maintained its number one position. Dacia sales rose 91% and reached 1.3% of the European market.
In France, Renault group sales increased by 7.3% to 701,998 units. Renault remains France’s best selling brand with a 23,5% market share (PC+LCV) and in 2009, Dacia became one of the top ten best-selling brands in that market with 2.5% of market share (PC+LCV).
Renault Samsung Motors increased its market share by 0.8 percentage points to 9.3% and by 31% in terms of volume, making South Korea the Group's third-largest market with 133,630 units sold.
Renault Group's sales volume outside Europe stood at 34% of total sales.
* Total PC+LCV market sales based on Renault estimates: 62,208,320 units
Nissan HighlightsNissan closed the year with a total sales of 3,358,413 units, down 9.4% compared to previous year. Nissan's global market share was 5.4%.
In the US, Nissan and Infiniti sales totaled 770,103 vehicles, resulting in a record market share of 7.4%. In 2009, Rogue set a record of 77,222 sales, a 5.7% increase over last year. Sales of Maxima and the 370Z sports car saw increases of 13.3% and 26.9% respectively compared with 2008.
In China, now Nissan's second largest global market, the company's passenger car sales increased 38.7% to 755,518 units. Sales were led by the Teana flagship model, which saw a significant increase in demand of 149.2% to 108,504 units. The Sylphy model also saw large gains (81.4%) to 96,174 units.
In Japan, Nissan sold 599,396 vehicles, down 11.6% compared to 2008. The Serena minivan maintained its position as the minivan segment leader for three years in a row with sales of 78,836 units.
In Europe Nissan sold 498,027 units representing a 17.2% decrease over 2008. The compact crossover Qashqai remained Nissan's most popular model in Europe with 202, 823 units sold. The UK was Nissan's biggest market with 84,441 units sold. Germany saw gains of 32% to 64,092 units.
In other markets, sales were 498,863 units, a 21.5% decline.
-Company Announces a Record Month for 2010 Outback and Legacy Models-
-January Sales Show a 28-percent Increase-
CHERRY HILL, N.J., Feb. 2 - Subaru of America, Inc., coming off a record-breaking sales year as the top performing brand in 2009, today announced a 28-percent sales increase over January 2009. The company sold 15,611 units in January 2010 versus 12,194 units sold in January 2009.
The newly introduced models continue selling at a record pace. The 2010 Subaru Outback and Legacy vehicles posted their best January sales records ever. By selling 5,467 units, the 2010 Subaru Outback more than doubled its January sales with a 117-percent increase over 2009. The 2010 Subaru Legacy sold 2,448 units, which also doubled its previous January sales, at 110-percent over 2009.
"In January we were able to continue our sales momentum thanks to strong product offerings, consistency in marketing and the hard work of our great dealer body," said Tim Colbeck, senior vice president of sales for Subaru of America. "Given the strong fundamentals of the Subaru brand, we think the momentum will continue going forward."
"Subaru recently won the Best Mainstream Brand in the annual Automotive Lease Guide (ALG) residual value study as well as placing first in their segments for Forester and Outback models," said Thomas J. Doll, executive vice president and COO, Subaru of America, Inc. "These awards praise companies and vehicles predicted to retain the highest percentage of their original price after a three-year period. By providing customers with vehicles that represent a long-term value, Subaru continues to outperform the industry."
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