By Makiko Kitamura and Tetsuya Komatsu Feb. 9 (Bloomberg) — Toyota Motor Corp. stopped shipments of its Lexus HS250h and SAI hybrids from a factory in southern Japan due to possible brake problems with the models, which use the same system as Prius hybrid cars. Shipments from the factory in Kyushu were stopped yesterday to inspect the models, Norifumi Wakikawa , a spokesman at Toyota Motor Kyushu, said by phone today. Toyota, the world’s biggest carmaker, is expected to recall the 2010 version of the Prius in Japan this week to repair a problem with the braking system. Scrutiny of the vehicles may further tarnish Toyota’s reputation after the Toyota City, Japan-based company recalled almost 8 million cars globally to repair separate defects linked to unintended acceleration. Those recalls have yet to include any cars in Japan, where the Prius was last year’s top-selling model. Toyota has been investigating reports that Prius owners driving at low speeds on bumpy or icy roads may experience moments where the car continues to coast for about a second after the brakes are applied because of the anti-lock brake system. The company plans to recall at least 270,000 Priuses in Japan and the U.S., a person familiar with the matter said, declining to be identified as the information isn’t yet public. Japan, U.S. Recalls Ririko Takeuchi , a Toyota spokeswoman in Tokyo, declined to say whether the company will recall the Prius. The carmaker may notify Japan’s Transport Ministry of plans to recall the model as early as today, followed by a similar action in the U.S., Nikkei English News said, without citing anyone. Juergen Stolze , a Toyota spokesman in Cologne, Germany, said yesterday the carmaker will decide by Feb. 10 whether to recall Prius cars in Europe. Toyota rose 1.8 percent to 3,340 yen as of 9:57 a.m. on the Tokyo Stock Exchange. The company has lost about $33 billion in market value since Jan. 21, when it announced a recall of 2.3 million U.S. vehicles for defects linked to unintended acceleration. To contact the reporter on this story: Makiko Kitamura in Tokyo at mkitamura1@bloomberg.net
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Toyota Halts Lexus, SAI Hybrid Shipments on Same Brake Problems as Prius
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By Makiko Kitamura and Tetsuya Komatsu Oct. 7 (Bloomberg) — Honda Motor Co. , Japan’s second- largest carmaker, expects full-year vehicle sales in India and Thailand to exceed forecasts, the company’s head of Asia operations said. Sales in Thailand this calendar year may reach last year’s level, compared with a forecast for a 20 percent decline, while sales in India will fare better than the estimated 20 to 30 percent drop, Fumihiko Ike , president of Asian Honda Motor Co. said in an interview in Tokyo yesterday. “Compared with Europe and the U.S., recovery of these Asian economies has been slightly faster,” Ike said. “Banks started loosening credit relatively early, which has helped because a high ratio of people buy cars and motorcycles on credit.” Economic recoveries in India and Thailand are boosting sales of Honda’s Jazz and City compact cars. India’s economic growth may accelerate to as much as 7.8 percent this year as the U.S. economy shows signs of “bottoming out” and harvests benefit from monsoon rains, the finance ministry said July 2. Thailand’s economy is “sure” to grow this quarter for the first time in a year as government spending and improving global demand spur the nation’s expansion, Finance Minister Korn Chatikavanij said Oct. 5. Honda started selling the Jazz compact in India in June. The Tokyo-based company also plans to introduce a small car targeting India and Thailand, which will be smaller than the Jazz, within two to three years and may export the car from Thailand to other countries in the region, Ike said. “There is a huge income disparity gap in these countries, and our new product will meet untapped demand,” he said. The car, with an engine of less than 1.2 liters, will qualify for Thailand’s “eco car project.” The government offers tax breaks to automakers consumers for cars that get at least 20 kilometers per liter (47 mpg). The car would be sold in India at a price equivalent to the average annual salary, he said. Ike said Honda has no plans to bring out a car that competes with Tata Motors Ltd.’s Nano, the world’s cheapest car, which is five times cheaper than the Jazz. “Japanese carmakers just can’t make a car like that, nor do they want to,” he said. To contact the reporter on this story: Makiko Kitamura in Tokyo at mkitamura1@bloomberg.net ; Tetsuya Komatsu in Tokyo at tekomatsu@bloomberg.net
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Honda’s India, Thai Sales to Beat Forecast as Economies Recover, Ike Says
