U.S. Imports of Auto-related Goods from Japan Expected to Decline

/PRNewswire/ -- The automobile industry is the largest U.S. importer of goods shipped via container transport from Japan, giving auto manufacturing and support businesses the greatest threat of disruption as Japan's industrial output struggles following the devastating earthquake and tsunami, according to data and analysis from The Journal of Commerce/PIERS. Japan is the No. 3 exporter of containerized goods to the United States, according to PIERS data, behind China and Korea. The country is second, behind only China, as an importer from the U.S., based on container volume measured by PIERS data.

Although three Japanese ports — Sendai, Hitachinaka and Kashima — have remained closed since the disaster on the northeastern coast, the country's largest ports, including Tokyo, Kobe and Yokohama in the industrial southern part of the country were open this week and handling commercial vessels. But Mario Moreno, economist for The Journal of Commerce, said Japanese exports "will weaken in the months ahead as the closing of several manufacturing plants prompted by electricity shortages, combines with severely damaged roads and bridges to hamper production."

In 2010, U.S. containerized imports of auto parts from Japan, accounted for 28 percent of the total U.S. imports of this commodity globally. Boosted by solid gains in U.S. auto sales last year, imports of auto parts from Japan rose 22 percent in 2010, according to PIERS data. The increase was already slowing in 2011, growing by only 3 percent, year over year in January 2011 versus 2010.

"The positive trend is unlikely to continue," says Moreno. "U.S. car manufacturers, like Toyota, must meet strict specifications and use Toyota-made auto parts only." Moreno's forecast issued in December anticipated a 2.5 percent decline in U.S. containerized imports from Japan, coming off high volumes in 2010.

Japan's bilateral trade includes China as its top export market, with 21 percent of its total exports in 2010, while the U.S. accounted for 17 percent. Japan's export to China was $598 billion in 2010, up 36 percent from 2009, and exports to the U.S. totaled $482 billion, up by 26 percent from 2009.(1)

(1) Containerized and non-containerized data sourced from PIERS Stats Plus

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Seniors Slam Car Company Efforts to Escalate a Repair Parts Monopoly That Harms Older Americans

/PRNewswire/ -- Today, RetireSafe President Thair Phillips, representing 400,000 older Americans, slammed the car companies' latest effort to enhance their monopoly over repair parts and car repairs. "There is a certain irony that after a year-long parade of car company recalls, a number of car companies are attacking aftermarket repair parts in an effort to push their own, usually much more expensive repair parts," Phillips said. "In the toughest economy since the Great Depression, seniors and all American consumers count on having the money-saving choice of high-quality aftermarket parts to repair their vehicles," he stressed. Phillips called recent statements by Hyundai and Honda pushing Hyundai Genuine Parts and Honda Genuine Parts, "shameless efforts to strangle vital competition that we absolutely need to have more of in the automotive marketplace."

He noted that "after billions of dollars in taxpayer-funded bailouts and 'Cash-for-Clunkers' sales promotions that we paid for to push new car sales for them, it's even more insulting to have car companies bash far less expensive, high-quality aftermarket parts which are certified to be safe and more often than not, made by the very same parts makers who make the original equipment parts." Phillips continued, "These same companies even attack perfectly good recycled parts - parts from vehicles they originally sold."

"Consumers pay a huge price for these car company repair parts monopolies, and Congress should act to protect the older Americans held hostage by these automotive shakedowns," he stated. "RetireSafe has long supported legislation that would do just that in both the U.S. House and Senate," Phillips said. He urged Congress to immediately "pass H.R. 3059 and S. 1368, the Access to Repair Parts Act."

"It's time for Congress and the White House to stand up for seniors by putting a stop to car company monopolies that destroy competition, harm consumers, and eliminate free choice in the marketplace," Phillips concluded.

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