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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Extreme Heat May Increase Vehicle Fire Threat

/PRNewswire/ -- The extreme heat experienced in communities across the U.S. makes conditions ripe for vehicle fires. State Farm reminds car owners to be vigilant and have their autos inspected and properly maintained during severe hot weather.

"Nobody wants to be that person standing by the side of the road watching helplessly as their car is engulfed in flames. And the very hot conditions across the country increase the chance of a vehicle fire--especially in older models," said Tom Hollenstain, research administrator at the State Farm Vehicle Research Facility. "But if you keep your car in good operating condition, you'll do a lot to help avoid that danger."

The National Fire Protection Association® says most highway vehicle fires occur in the months of July and August on Friday afternoons. This report also cited mechanical or electrical failure (leaks, breaks, worn-out parts) as causing approximately 49 percent of U.S. highway vehicle fires.

To lessen the likelihood of a highway vehicle fire, State Farm recommends the following car care tips:

-- Engine Coolant - Maintaining the coolant at the proper level is vital
during hot summer weather. Refer to the vehicle's owner's manual for
additional instruction or consult with an automotive technician. Never
remove the engine's coolant cap if the vehicle has been in operation.
-- Engine Oil Level - Motor oil is the life blood of the engine. It not
only provides lubrication, it also assists in engine cooling.
Maintaining the oil level at the proper range will reduce the chances
of engine damage or failure.
-- Belts & Hoses - During hot weather, additional stress is placed on the
engine's belts and hoses. Gaskets and seals may leak, hoses might
deteriorate, and belts could become brittle causing oil consumption to
increase. A failed hose or broken belt may cause the engine to
overheat. Before turning on the engine, inspect the belts and hoses
for unusual wear and cracks.
-- Keep it Clean -- Have the engine degreased to cut down on the buildup
of oil and grease.
-- Slow and Easy - All vehicles should be driven easier during hot
weather. If there is a heat advisory, motorists should try to avoid
heavy traffic, idling, high speeds and aggressive driving, all of
which contribute to the vehicle's engine overheating.

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