Everyone wants to turn to electric vehicle technology but look a bit farther and you may find it an innovation far from being the solution to the transportation problems we face today. Easier said than done, electric vehicles still lack the support of being powered, particularly since one time charges can only go to a certain mile.

Further, the cost for getting one vehicle is quite hefty. We all know for a fact that we are in hard times and with that in mind, cash or financing issues related to the purchase of a new car seems to be close to nil. Can you imagine buying a car for 4,599,000 yen, or 2,990,000 yen? You do the conversion but either way, you know it is going to cost you.

Japan-based car manufacturers are excited on the new electric cars set to be released in the market. Mitsubishi (i-Miev), Toyota (Prius), Honda (Insight) and Nissan have ready plans for their electric cars either this year or next. During that time span, the matter of charging stations has to be addressed and though we have seen a lot of sectors coming up with their own charging stations, the matter of determining how many they are is another aspect that needs to be ironed out.

The age of electric cars is coming. That is a fact. But also, the matter of how many can maintain and find resources like charging stations is still in question. In the end, without these requirements met, expect electric cars to encounter turbulence along the roads.

(Source) Bernama

Tags: car manufacturers, electric cars, electric vehicle technology, electric vehicles, Honda, honda insight, Mitsubishi, new car, Nissan, sectors, time span, Toyota, toyota prius, transportation problems, turbulence, yen

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Toyota Motors continues its nosedive sales reports and is expecting worst thing to come. With dozens of factories unused, the global downturn is making life easier for the Japan-based car manufacturer, comparing profitable years with a large loss of $6.9 billion in the final quarter.

The world’s biggest automaker reported a January-March operating loss of 682.5 billion yen ($6.9 billion), versus a 396.7 billion yen profit a year earlier but in line with a consensus estimate for a loss of 689 billion yen in a survey of 21 analysts polled by Thomson Reuters.

The global economic downturn that has battered demand for cars and pushed U.S. rival Chrysler [CBS.UL] into bankruptcy has hit Toyota badly as it went from rapid expansion to overcapacity almost overnight.

Toyota posted its first-ever consolidated operating loss last year after a record profit the year before.

(Source) Reuters

Tags: automaker, Bankruptcy, car manufacturer, cbs, Chrysler, consensus estimate, dozens, economic downturn, factories, global downturn, Japan, overcapacity, rapid expansion, record profit, reuters, thomson, Toyota, toyota motors, yen

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Due to the continued slump in the economy, Honda has announced that it is cutting on manpower and production. They will reduce output by 56,000 vehicles for the rest of the financial year, a familiar fixture that is becoming a trend in the motoring industry.

Honda has likewise announced that it will not renew the contracts of 3,100 temporary workers by April in response to the rapid change in the global market environment.

Honda last month cut its full-year net profit forecast by more than half due to a soaring yen and the global economic slowdown. It also announced its shock pullout from Formula One because of financial difficulties.

(Source) Asia One Motoring

Tags: economy, financial difficulties, Formula One, global economic slowdown, Honda, yen

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