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There's something about India as a market that's enticing the behemoths of automobiles. And they're coming in hordes. 
 The country now ranks among the top markets for Japanese automobile companies like <keyword id="6911" type="CITY" weightage="80" keywordseo="suzuki">Suzuki</keyword>, Yamaha, <keyword id="20630" type="CITY" weightage="80" keywordseo="Honda">Honda</keyword> and <keyword id="6374528" type="CITY" weightage="80" keywordseo="Toyota">Toyota</keyword> among others. 
 Although thanks to Maruti Suzuki's market leadership in the car segment, India has been topping Suzuki's global markets both in terms of volumes as well as revenues, now the situation is being replicated by other Japanese biggies like Yamaha, Honda and Toyota as India moves up the global pecking order. The <keyword id="47445" type="UNKNOWN" weightage="80" keywordseo="Indian-market">Indian market</keyword> now ranks among the top five markets globally for almost all the top Japanese automobile brands, according to an Economic Times report. 
 Take Honda Cars India, the four-wheeler local subsidiary of <keyword id="189945" type="COMPANY" weightage="80" keywordseo="Honda-Motor-Corp-">Honda Motor Corp.</keyword> Thanks to some top-gear growth in the last two years, India now ranks as Honda's fourth biggest market by volumes. Said Jnaneswar Sen, senior vice-president, marketing &amp; sales, Honda Cars India: "India ranks after the top three markets of US, China and Japan globally thanks to our good growth run for the past two years. HCI clocked 41% growth 2014-15 selling 1.89 lakh units up from 1.34 lakh units the year before. In 2013-14, we clocked a growth of 83% year-on-year. Leaving out the luxury cars, Honda is the fastest growing car brand in India. Our current market share in India is over 7%." 
 
Honda's top-gear run has prompted the Japanese car maker to expand capacity at its second plant in Rajasthan from 1.2 lakh units to 1.8 lakh units. "Our target is to sell 3 lakh units in India by 2016-17." 
Ditto for fellow Japanese brand Yamaha which now pegs India just after its global top market Indonesia. Said Roy Kurian, VP-marketing and sales, Yamaha Motor India: "India will become Yamaha's second largest volume market after Indonesia by year-end though there will be quite a large gap between the No1 and No2 markets. Earlier Vietnam used to be our second largest market but that is now expected to slide to No3 in the pecking order." Yamaha is already adding another 1.8 million units (in phases) thanks to its new plant in Chennai. Along with its existing plant in Surajpur, the fresh capacity will take Yamaha's total two-wheeler production in India to nearly 3 million units. 
 
For Toyota Kirloskar Motor, Thailand, Indonesia and India comprise the troika of "significant markets" in the Asia Pacific region. "India stands pretty tall in Toyota's gameplan and is the third market after China and US in terms of importance," said Shekar Viswanathan, vice-chairman and whole-time direct, Toyota Kirloskar Motor told ET. 
 Even relative newcomers like <keyword id="46283" type="CITY" weightage="80" keywordseo="Nissan">Nissan</keyword> are stepping on the gas for some India action. Said Arun Malhotra, MD, Nissan Motor India: "India is one of the largest hubs for the investment that the Renault-Nissan Alliance has envisaged for a very competitive market like India. Our manufacturing facility is the largest that the Alliance has developed so far across the world with a production capacity 480,000 units. India is the first, among other growth markets across world with a production capacity 480,000 units. India is the first, among other growth markets across the world where Datsun made a world debut."

This is why Honda, Suzuki and Toyota love India

<keyword id="102815" type="CITY" weightage="80" keywordseo="Honda-Motor-Co">Honda Motor Co</keyword> said on Thursday it was recalling about 340,000 more cars in <keyword id="6355311" type="COUNTRY" weightage="80" keywordseo="Japan">Japan</keyword> to replace air bag inflators made by top supplier <keyword id="2873001" type="ORGANIZATION" weightage="80" keywordseo="Takata-Corp-">Takata Corp .</keyword> 
 Details for recalls elsewhere were not immediately available, a <keyword id="20630" type="CITY" weightage="80" keywordseo="Honda">Honda</keyword> spokesman said. 
 
 
Takata is at the centre of a recall of tens of millions of cars around the world for potentially deadly air bag inflators that could deploy with too much force and spray metal fragments inside vehicles. Regulators have linked six deaths to the component so far, all on Honda's cars. 
 
 
Honda had just expanded its Takata-related recalls by nearly 5 million cars earlier this month after its own investigations found two new problems with inflators it had retrieved for sampling. The root cause of the defect is unknown.

Honda recalling another 340,000 cars! Something's very wrong here

toehk at <a href="http://www.flickr.com/photos/toehk/2831901873/">www.flickr.com</a>Wuhan is home to many business operations of international corporations, including McDonald's.<ul class="summary-list"><li>Wuhan, China, is one of China's largest industrial hubs, and several Chinese and international corporations have business operations in this city.</li><li>Automotive companies like Dongfeng Motor Group, Nissan, Honda, and General Motors have car factories in Wuhan.</li><li>Major fast food chains like McDonald's, Pizza Hut, and KFC also have branches in Wuhan, and they are suspending business in response to the outbreak.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>The spread of the deadly coronavirus is likely to have a major economic impact as Wuhan, the center of this outbreak, is a business hub for several international corporations.Wuhan, a city of 11 million people, is one of China's largest industrial hubs and home to its steel industry. The <a href="https://www.forbes.com/companies/dongfeng-motor-group/#4dd04e097483">$9.4 billion</a> Chinese automotive company Dongfeng Motor Corp, which is joint venture partners with Nissan and Honda, resides in this city. Several suppliers and international business operations are based in Wuhan. For example, massive car factories for General Motors, Nissan, Honda, and other corporations are there. Wuhan is home to the business operations for international corporations like Renault SA, PSA Group's Peugeot, IBM, HSBC, Siemens, Walmart, Ericsson and more. The beverage company Anheuser-Busch InBev SA also brews beer in Wuhan.WeWork operates co-working spaces there, and major fast food chains like McDonald's, Pizza Hut, and KFC hold operations in Wuhan. Already, McDonald's has <a href="https://www.businessinsider.com/mcdonalds-closes-china-hubei-stores-amid-coronavirus-outbreak-2020-1">suspended business</a> in five cities in China, including Wuhan. Likewise, some Pizza Hut and KFC stores have been <a href="https://uk.reuters.com/article/china-health-yum-china-hldg/yum-china-temporarily-closes-some-kfc-pizza-hut-stores-in-wuhan-idUKFWN29T0VX">temporarily shut down</a> in Wuhan.The city is currently under lockdown to contain the spread of the coronavirus. Since Thursday, transit going in and out of Wuhan <a href="https://www.businessinsider.com/transit-wuhan-china-shut-down-coronavirus-2020-1">has been halted</a>, coinciding with the <a href="https://www.businessinsider.com/photos-compare-lunar-new-year-celebration-impact-wuhan-coronavirus-outbreak-2020-1">Lunar New Year</a> holiday that is usually the busiest time of the year. During this holiday season, billions of dollars are spent on travel, shopping, and food.Likewise, other countries have also faced economic impact. After the second case of coronavirus was confirmed in the U.S., the Dow Jones Industrial Average plunged <a href="https://markets.businessinsider.com/news/stocks/dow-jones-wuhan-virus-second-confirmed-case-us-spooks-market-2020-1-1028844048">over 250 points</a> on Friday.<a href="/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health"></a>Featured Digital Health Articles: - <a href="/telehealth-industry-explained">Telehealth Industry: Benefits, Services &amp; Examples</a> - <a href="/value-based-care-pay-for-performance-healthcare-model">Value-Based Care Model: Pay-for-Performance Healthcare</a> - <a href="/senior-care-market-trends">Senior Care &amp; Assisted Living Market Trends</a> - <a href="/wearable-technology-healthcare-medical-devices">Smart Medical Devices: Wearable Tech in Healthcare</a> - <a href="/artificial-intelligence-healthcare">AI in Healthcare</a> - <a href="/remote-patient-monitoring-industry-explained">Remote Patient Monitoring Industry: Devices &amp; Market Trends</a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/georgetown-professor-reveals-people-wrong-mlk-martin-luther-king-jr-race-black-radical-racism-2017-5">A Georgetown professor explains how Martin Luther King Jr. 'has been severely whitewashed'</a></h3>

Wuhan, the center of the deadly coronavirus outbreak, is a major business hub for several international corporations

Mumbai, Feb 19 () Maxxis India on Wednesday said it has partnered Yamaha for supplying tyres in India and plans to corner at least 15 per cent of the country's two-wheeler tyre market in the next five years. Maxxis India, which is a part of the Taiwan-based Maxxis Group, already has similar tie-ups with Hero MotoCorp and Honda Motorcycle &amp; Scooter India. As part of the tie-up, Yamaha's 125 cc BSVI- compliant Ray ZR and Fascino range of scooters as well as BSVI-compliant model of Ray ZR Street Rally 125 FI will come fitted with Maxxis tyres, a company release said. The company has already started production of tyres with particular specifications to cater to the requirement for both range of scooters, it said. Maxxis India plans to corner at least 15 per cent of the demand by 2023. "As we begin our 5th year of operations in India, this association will further strengthen our portfolio for scooter tyres in India. We are hopeful that the relationship will help us create a new market for Maxxis Tyres and penetrate deeper in rural markets," Bing-Lin Wu, Marketing Head, Maxxis India said. As a part of this association, Maxxis Tyres will be available at select Yamaha and Maxxis dealerships across India, the company said, adding, the tyres will be an Original Equipment (OE) fitment to Yamaha scooters. The partnership will give help to capture 15 per cent of India's two-wheeler tyre market within five years, Maxxis India said. India market is touted to play a vital role in achieving Maxxis's global vision to become one of the top five tyre manufactures in the world by 2026, it said. Apart from catering to the domestic tyre market, the product portfolio from the Sanand facility will be exported to South Asia and will further expand to Africa and Middle East countries in the coming years, as per the company, which also has plans to set up five more plants in the country, which will also cater to the four-wheeler tyres market. Maxxis India' Sanand manufacturing facility in Gujarat has a capacity to produce around 20,000 tyres and 40,000 tubes per day. Maxxis currently serves as an original equipment manufacturer (OEM) tyre supplier to Honda, Hero Moto Corp, Yamaha Motors (two-wheelers), Maruti Suzuki, Mahindra, Tata and Jeep in India. IAS DRR

Maxxis India partners Yamaha for supplying tyres

<ul><li>India’s largest carmaker Maruti Suzuki trimmed over a third of its output, owing to the sales slowdown. </li><li>Suzuki, in a stock exchange notice claimed that it has produced 111,370 units in August. </li><li>The company’s domestic passenger vehicle sales also went down by 36.1% at 93,173 units. </li><li>Suzuki shed over 1,000 temporary employees due to the slump in sales.</li></ul>India’s largest carmaker Maruti Suzuki trimmed over a third of its output, owing to sales slowdown. It reduced the <a href="https://www.financialexpress.com/industry/as-sales-fall-maruti-suzuki-cuts-output-by-34-pct/1694285/">output by 34%</a> in August, the company said. While it has been trimming output since February. In August, it produced only 111,370 units, Suzuki said in a stock exchange notice. The 11-month auto slowdown has taken a toll on the automaker’s most lucrative segment. The small segment cars such as WagonR and Alto have been the worst hit with a 63% decline in output. It also trimmed the production of its mini segment cars Baleno and Swift by 34%. This slash is in line in dull demand. In August, its sales for the mini segment declined by a massive 71% as compared to last year. “Production is never steady in many industries and it depends on how the market behaves,” R C Bhargava, Chairman of Maruti Suzuki <a href="https://www.financialexpress.com/industry/as-sales-fall-maruti-suzuki-cuts-output-by-34-pct/1694285/">told </a>The Financial Express. The company’s domestic passenger vehicle sales also went down by 36% to 93,173 units. Suzuki shed over 1,000 temporary employees, and is planning to freeze hiring. Plant shutdowns Top players like Tata Motors, Hero MotorCorp and Mahindra too have cut down production due to demand so sluggish that many dealerships have shuttered down. Mahindra &amp; Mahindra shut its operations for 25-30 days over the last two quarters. Companies like Tata Motors, Honda Cars also shut its plants for nearly 4-10 days in the last few months, thanks to the declining demand. Homegrown automotive multinational <a href="https://www.businessinsider.in/the-maker-of-general-motors-and-toyotas-parts-in-india-is-folding-up-axing-thousands-of-jobs/articleshow/70603130.cms">Jamna Auto Industries </a>(JAI) and the third largest suspension spring manufacturer in the world suspended operations in August, Reuters reported. Some of its Indian and global clients include General Motors Co, Toyota Motor Corp, Tata Motors and Mahindra — all of whom are victims of a worldwide auto slowdown. See also: <a href="https://www.businessinsider.in/the-maker-of-general-motors-and-toyotas-parts-in-india-is-folding-up-axing-thousands-of-jobs/articleshow/70603130.cms">The maker of General Motors and Toyota's parts in India is folding up — axing thousands of jobs</a> <a href="https://www.businessinsider.in/auto-sales-continue-to-decline-in-august/articleshow/70941671.cms">Tata Motors August sales are lower by 49% as auto industry's stuck in the slow lane</a> <a href="https://www.businessinsider.in/suzuki-and-toyota-will-pool-money-in-a-tie-up-to-beat-global-auto-competition/articleshow/70872106.cms">Suzuki and Toyota have decided to pool money to beat competition in global auto industry</a>

Suzuki cuts WagonR, Alto and other small car production by a massive 63%

<div class="KonaFilter image-container display-table"><div><div class="image on-image">ToyotaThe 2015 Toyota 4Runner is one of the cars affected by the recall.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/toyota" target="_blank" rel="noopener">Toyota</a> and its <a href="https://www.businessinsider.com/category/lexus" target="_blank" rel="noopener">Lexus</a> luxury brand have issued a <a href="https://www.businessinsider.com/category/recall" target="_blank" rel="noopener">recall</a> for 1.7 million cars worldwide, 1.3 million of which were sold in the US.</li><li>The recall is due to faulty <a href="https://www.businessinsider.com/category/takata" target="_blank" rel="noopener">Takata</a>-made airbag inflators that have been linked to 23 deaths and 290 injuries worldwide.</li><li>The Takata airbags could explode, spraying metal shrapnel inside cars and trucks.</li><li>Affected Toyota models, from the 2010 through 2016 model years, include the 4Runner SUV, Sienna minivan, and Corolla sedan.</li><li>Affected Lexus models, from the 2010 through 2017 model years, include the ES and IS passenger cars as well as the GX SUV. </li></ul>Toyota Motor Corp said Wednesday it is recalling another 1.7 million vehicles worldwide for potentially faulty Takata airbag inflators as part of a multi-year industry recall campaign announced in 2016.Automakers are adding about 10 million vehicle inflators in the United States to what was already the largest-ever recall campaign in history. Last week, Ford Motor Co said it was recalling 953,000 vehicles worldwide for Takata inflators. Previously, 37 million US vehicles with 50 million inflators were recalled and 16.7 million inflators remain to be replaced.Toyota's new recall relates to vehicles from the 2010 through 2017 model years and includes 1.3 million vehicles in the United States.The <a href="https://techinfo.toyota.com/techInfoPortal/staticcontent/en/techinfo/html/prelogin/docs/cp/g0pg0rh0atofaq.pdf" target="_blank" rel="noopener">affected Toyota branded vehicles</a> include:<ul><li>2010-2013 model year Corolla, </li><li>2010-2013 Matrix,</li><li>2010-2016 4Runner, and</li><li>2011-2014 Sienna.</li></ul>There are also a handful of <a href="https://techinfo.toyota.com/techInfoPortal/staticcontent/en/techinfo/html/prelogin/docs/cp/glgglhhlalofaq.pdf" target="_blank" rel="noopener">affected models from Toyota's luxury brand Lexus</a>:<ul><li>2010-2013 IS 250,</li><li>2010-2015 IS 250C,</li><li>2010-2013 IS 350,</li><li>2010-2015 IS 350C,</li><li>2010-2014 IS-F,</li><li>2010-2017 GX 460, and</li><li>2010-2012 ES 350. </li></ul>Finally, the 2010-2015 XB from Toyota's defunct Scion division is also affected by the recall. <a href="https://www.toyota.com/recall/takata" target="_blank" rel="noopener">Click here for more information</a> on the recall and to see if your vehicle is affected. At least 23 deaths worldwide have been linked to the rupturing of faulty Takata airbag inflators, including 15 in the United States.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Lexus</div></div></div>More than 290 injuries worldwide have been linked to Takata inflators that could explode, spraying metal shrapnel inside cars and trucks. In total, 19 automakers are recalling more than 100 million potentially faulty inflators worldwide.To date, 21 deaths have been reported in Honda Motor Co vehicles and two in Ford vehicles. Both automakers have urged some drivers of older vehicles not to drive them until the inflators are replaced.Read more: <a href="https://www.businessinsider.com/cars-people-keep-for-years-toyota-honda-subaru-2019-1" target="_blank" rel="noopener">Here are the 15 cars people love to keep for a long time - and they're all from Toyota, Honda, and Subaru</a>.The defect led Takata to file for bankruptcy protection in June 2017. In April, auto components maker Key Safety Systems completed a $1.6 billion deal to acquire Takata. The merged company, known as Joyson Safety Systems, is a subsidiary of Ningbo Joyson Electronic Corp.Automakers in the United States repaired more than 7.2 million defective Takata airbag inflators in 2018 as companies ramped up efforts to track down parts in need of replacement, according to a report released last month. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/saturn-losing-rings-faster-than-thought-nasa-2018-12">Saturn is officially losing its rings - and they're disappearing much faster than scientists had anticipated</a></h3> <div> </div> </div>

Toyota just recalled 1.7 million cars with potentially deadly airbags that could explode and spray metal shrapnel

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Good morning! Here are the major stories in markets today.Saudi Arabia says its efforts to hurt US shale producers are working. According to the Financial Times, a Saudi official told the newspaper that the overproduction and fall in prices "<a href="http://www.ft.com/cms/s/2/69350a3e-f970-11e4-be7b-00144feab7de.html#axzz3a5a6C0mu">has deterred investors away from expensive oil including US shale, deep offshore and heavy oils.</a>" Even after a massive merger with BG, Shell says it could look at more small deals. <a href="http://www.businessinsider.com/r-shell-considers-small-north-america-energy-deals-even-after-bg--2015-5#ixzz3a5Xy5klw">Royal Dutch Shell Plc will consider small additions to its North America oil and gas business, despite ruling out large acquisitions after its deal to buy BG Group</a>, Marvin Odum, director of Shell's Americas exploration and production business, said in an interview Wednesday.Former Australian Prime Minister Kevin Rudd says "two Asias" are emerging. <a href="http://uk.businessinsider.com/major-change-in-world-order-china-us-economy-2015-5#ixzz3a5XAduZx">In the next decade or so, China's economy is expected to surpass that of the US</a>. (And, by some measures, it already has.) However, even though China's increased defence spending will continue to close the gap, Rudd notes US is expected remain the dominant regional and global military power.Brazil's lower legislative house approved further austerity measures. The lower chamber of Brazil's Congress passed a bill on Wednesday <a href="http://www.businessinsider.com/r-brazils-lower-house-passes-second-austerity-bill-2015-5#ixzz3a5XXtX8N">toughening access to social security pensions, the second measure approved in a week to cut benefits in a drive to reduce a growing fiscal deficit</a>.Chinese markets are pretty flat, and the Nikkei is down. Hong Kong's Hang Seng is up 0.11%, while the Shanghai Composite Index is down 0.04%. Japan's Nikkei has fallen 1.04% from Wednesday's close. Honda is following Toyota by recalling millions of cars. <a href="http://www.businessinsider.com/r-honda-to-recall-48-million-more-cars-globally-for-takata-air-bags-2015-5#ixzz3a5cVlSN">Honda said on Thursday it would recall another 4.8 million cars globally to replace potentially fatal air bag inflators made by Japan's Takata, already at the centre of one of the biggest automotive recalls to date</a>. The recall comes a day after Toyota Motor Corp and Nissan Motor Co said they were taking back some 6.5 million vehicles worldwide Read more: Accounting embarrassment fas forced Toshiba into major profit restatements. <a href="http://www.businessinsider.com/r-toshiba-says-to-mark-down-reported-profit-for-three-years-2015-5#ixzz3a5YLPxir">Japan's Toshiba Corp warned it was likely to mark down its reported operating profit for the three fiscal years through March 2014 by a total of at least 50 billion yen ($419.43 million, £266.34 million)</a> after an investigation into accounting irregularities. Japan's Sharp is about to show massive losses and job cuts. <a href="http://www.businessinsider.com/afp-japans-sharp-to-report-1.6-bln-loss-thousands-of-job-cuts-reports-2015-5#ixzz3a5ZXz5qk">Japanese electronics giant Sharp will announce later on Thursday a $1.68 billion (£1.07 billion) fiscal year loss and thousands of job cuts as it fights to stay afloat</a>, reports from Japanese business daily Nikkei said.Islamic finance may get a role in China's Asian Infrastructure Investment Bank. <a href="http://www.businessinsider.com/r-idb-puts-islamic-finance-on-aiib-drawing-board-2015-5#ixzz3a5YjKsxb">The Islamic Development Bank (IDB) is in discussions with Chinese officials to study the use of Islamic financing in the planned Asian Infrastructure Investment Bank (AIIB)</a>, the head of the Jeddah-based multilateral lender told Reuters. Amazon has launched a new advertising platform for mobile app developers. Amazon.com Inc launched a new advertising platform for mobile app developers to promote their apps on Android devices, Bloomberg reported. <a href="http://www.businessinsider.com/r-amazon-launches-advertising-platform-for-mobile-app-developers-bloomberg-2015-5#ixzz3a5Z079Bg">Developers can advertise their apps on Android smartphones and tablets by paying Amazon each time a user clicks an ad displayed through the system, Bloomberg said</a>. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/chocolate-kinder-surprise-eggs-toys-2015-4">We got our hands on 'Kinder Surprise Eggs' - the global candy favorite that's still illegal in the US</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="JzcnlidDpB5a1Xs-qlzglXWaGqCUSWQA" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

10 things you need to know before European markets open

<div class="image-container float_right" style="width:400px"><div class="image"></div><a href="http://www.toyota.com/camry/photo-gallery.html#!photos/19/">Toyota</a></div>DETROIT, Feb 1 (<keyword id="76338" type="CITY" weightage="60" keywordseo="Reuters">Reuters</keyword>) - <keyword id="6374528" type="CITY" weightage="60" keywordseo="Toyota">Toyota</keyword> Motor Corp again topped an annual U.S. consumer survey on brand perception released on Friday as all the top automakers' scores rose from last year.
Ford Motor Co, Honda Motor Co Ltd, General Motors Co's Chevrolet, Daimler AG's Mercedes-Benz and Volvo rounded out the top six, which was unchanged from last year, according to Consumer Reports, the influential consumer magazine that conducted the survey last month.
"The brand leaders have a really strong hold on the mind-share of the consumer," Jeff Bartlett, deputy auto editor online for Consumer Reports, said in an interview.
"We're seeing much less space between brands. In other words, consumers seem to think many excel in the areas that matter most to them and it's harder for brands to stand out."
For example, he said safety is very important to consumers, but most cars are pretty safe.
The survey comes less than a month after the Detroit auto show, during which the industry showed off its latest vehicles and concept cars.
Bartlett said the survey was "one window into what consumers are thinking" and is often a lagging indicator influenced by news headlines or neighborhood experiences.
Each of the top 10 saw perception scores rise in the survey. It is based on how consumers perceive each brand in seven categories: quality, safety, value, performance, design, technology and green attributes. The first two categories remain the top buying factors, the magazine said.
Toyota led with a score of 133 points, up about 11 points from last year. Ford, Honda and Chevy saw their total perception scores respectively rise about 2 points to 117.8 points, about 26 points to 114 and more than 7 points to 94.4.
Rounding out the top 10 after Mercedes (77.4 points) and Volvo (76.5 points) were GM's Cadillac (66.2 points), BMW (65.6 points), Chrysler's Dodge brand (55.8 points) and Tesla (54.8 points).
Tesla, relying largely on its new Model S all-electric sedan, gained about 13 points and Dodge's 23-point gain bumped Toyota's Lexus brand to 11th from 9th last year.
The bottom five in the survey were BMW's Mini brand (10 points), Fiat (8 points), Chrysler's Ram (7 points) and Mitsubishi and Toyota's Scion (each at 6 points).
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Copyright (2013) Thomson Reuters. <a href="http://thomsonreuters.com/products_services/media/brand_guidelines/legal_notice/">Click for restrictions</a>
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Toyota Is Once Again The Best Auto Brand In America

<div class="image-container float_right" style="width:398px"><div class="image"></div>Flickr/a-m-photo</div>DETROIT (Reuters) - Toyota Motor Corp'sluxury brand <keyword id="6415837" type="CITY" weightage="60" keywordseo="Lexus">Lexus</keyword> topped a U.S. vehicle dependability study of owners of 3-year-old cars and trucks as model-year 2010 vehicles improved to record-high quality levels.
The industry's cars, introduced in 2009 when the sector was hitting a 28-year sales low during the recession, saw a 5 percent improvement in quality, falling to 126 problems per 100 vehicles from 132 last year, according to the J.D. Power and Associates <keyword id="15510" type="PERSON" weightage="60" keywordseo="Survey">survey</keyword> released on Wednesday.
Lexus led with a score of 71 problems per 100 vehicles.
"The continuous improvement in long-term dependability means consumers should have more confidence in three-year-old vehicles, whether they are keeping their current vehicle or shopping for a used car," David Sargent, vice president of global automotive at J.D. Power, said in a statement.
Vehicle dependability is important to automakers because fewer problems translates into more loyal customers. J.D. Power said that 54 percent of owners who don't experience any problems with their vehicles stay with that brand for their next purchase. That loyalty rate slips to 41 percent when three or more problems are experienced.
Twenty-one of the 31 brands measured improved their scores in the survey, with U.S. domestic nameplates improving at a slightly greater rate than imports. The domestics narrowed their scoring gap with imports to 10 problems per 100 vehicles with an overall average of 133, from a gap of 13 last year.
In 2009, U.S. auto sales hit their lowest level since World War Two when, adjusted for population, and both Chrysler and General Motors Counderwent government-sponsored bankruptcies and Ford Motor Coborrowed heavily to avoid the same fate. Chrysler Group is now controlled by Fiat.
Following Lexus, which led for a second year in a row, were Porsche(94 problems per 100 vehicles), Ford's luxury Lincoln brand and Toyota (each at 112), Daimler'sMercedes-Benz brand (115) and GM's Buick (118). Lincoln was the top ranked brand in the 2011 study.
Rounding out the top 10 were Honda Motor Co'snamesake and luxury Acura brands (119 and 120, respectively), and Chrysler's Ram pickup truck and Suzuki(122 each). Mazdaand GM's Chevrolet brand also scored lower than the industry average at 124 and 125, respectively.
The bottom five scoring brands in the survey were Volkswagen(174 problems per 100 vehicles), Chrysler's Jeep brand and Mitsubishi(each at 178), Chrysler's Dodge (190) and Tata Motors Ltd'sLand Rover brand (220).
Among individual models, the Lexus RX had the highest dependability in the industry with just 57 problems per 100 vehicles, marking the first time in the survey a crossover or SUV topped the list, J.D. Power said. Chrysler's Ram scored the biggest improvement, cutting its problems by 52.
Toyota, through its namesake and Lexus brands, saw its vehicles earn seven segment awards, while GM had four and Honda, and its Acura brand, led in two segments.
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Lexus Tops New JD Power List Of Most Dependable Cars

<div class="KonaFilter image-container display-table float_right"><div><div class="image">Thomson ReutersThe Chevrolet Bolt EV electric concept car is unveiled during the first press preview day of the North American International Auto Show in Detroit</div></div></div>General Motors is stepping up its game to compete with Tesla.On Tuesday, GM outlined a wide-ranging partnership with Korean electronics firm LG Corp for production of the 2017 Chevrolet Bolt electric car that could establish a blueprint for such collaborations in the future.GM Executive Vice President Mark Ruess called it a "joint development agreement" in response to media questions during a conference call and described it as going beyond a conventional relationship between an automaker and supplier.The Bolt was introduced only about a year ago. Since then, GM has accelerated its production, in the minds of many experts and observers aiming to bring a mass-market, afforadable electric vehicle to market ahead of Tesla with its Model 3.The Model 3 is slated to be revealed in prototype form in early 2017, with deliveries to beging in 2017, according to Tesla.There's uncertainty in the auto industry about how significant the electric-vehicle market will ultimately be. "This space in the marketplace is extremely difficult to forecast," Ruess said. But he added that the development of the Bolt and the partnership with LG has "enabled us to break thru traditional barriers."We're going to be agile and optimistic," he said.Several LG subsidiaries, including LG Electronics and LG Chem, have worked closely with GM to develop electric motors, battery cells, dashboard displays and other electronic systems for the Bolt, which will go into production late next year in Michigan.The GM-LG partnership is one of the most extensive yet between a US automaker and an overseas supplier, and will shift more of the development and production cost for the new Chevrolet to a partner with considerable technical expertise.For its part, Tesla is constructing a massive, multi-billion-dollar battery factory, dubbed the Gigafactory, in Nevada. CEO Elon Musk's stated objective is to supply enough lithium-ion battery cells to supply production of 500,000 vehicles annually by 2020.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://www.teslamotors.com/gigafactory">Tesla Motors</a>Tesla's proposed Gigafactory.</div></div></div>In effect, this LFG partnership positions GM to have a comparable supplier in LG. Tesla is now working with Panasonic.Both automakers are betting on electric vehicles achieving better market penetration than we've seen over the past few years. Tesla has established a roughly 50,000-vehicle-per-year business, and a $30-billion-plus market cap, by selling cars at luxury price point. The Model S P90D with "Ludicrous Mode" acceleration capability sells for well over $100,000.With the Bolt, GM looks to be focusing on the mass-market first, even as other car maker, such as Porsche and Audi, plan to sell vehicles that compete more directly with Tesla's existing lineup. The Bolt is designed to be an affordable electric car, priced from around $35,000, with a 200-mile range between charges. The vehicle would compete against BMW AG's i3, the Nissan Leaf and of course the Model 3.<div class="KonaFilter image-container display-table"><div><div class="image on-image">PorscheThe Porsche Mission e concept.</div></div></div>LG's initial engagement with GM began in 2007, when LG Electronics provided the vehicle communications module for GM's OnStar telematics system. LG Chem supplied battery cells for the Chevrolet Volt, a plug-in hybrid launched in 2010.With the Bolt, GM was able to shift some costs to LG, a consumer electronics company that has been building its connections in the auto industry.LG invested more than $250 million in an engineering and manufacturing facility in Incheon, outside Seoul, to develop and build components and systems for the Bolt, according to a source familiar with the deal.GM doesn't take lightly the decision to move away from traditional vertically integrated manufacturing processes, so this move establishes a long-range strategy that represents an optimistic attitude toward the future of electric vehicles. It's reasonable to assume that the GM-LG partnership will mirror Tesla-Panasonic as more EVs hit the road.The supply agreement is a coup for LG Electronics, which is trying to boost its auto business amid growing headwinds for its television and smartphone businesses. The broad range of products being supplied to GM could enhance LG Electronics' auto business, which recently won contracts to supply information displays to Honda and Porsche.(editing by Joseph White in Detroit; Editing by David Gregorio)

GM just stepped up its game to compete with Tesla

<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>Here is what you need to know. Apple is in the Dow. The largest company in the world replaced AT&amp;T after Wednesday's close. Apple will have the <a href="http://www.cnbc.com/id/102517141">fifth-largest weighting</a> because the Dow is a price-weighted index. The US Dollar Index has clawed back most of Wednesday's losses. The Index sank to a low of 96.62 shortly after the stock market closed as a result of a more than 3% spike up in the euro. The greenback has seen steady buying off those lows, however, and it is now threatening to retake the 99.00 level. The Swiss National Bank kept policy unchanged. Switzerland's central bank held its Libor Rate at -0.75%, which was expected. Chairman Thomas Jordan noted that the franc remained strong and that the SNB would intervene when it felt the franc was "<a href="http://www.reuters.com/article/2015/03/19/us-swiss-rates-idUSKBN0MF0T520150319">significantly overvalued</a>." Switzerland's franc is down 1.4% at .9915.The Norges Bank surprised by keeping rates steady. Norway's central bank <a href="http://www.bloomberg.com/news/articles/2015-03-19/norway-central-bank-signals-cut-after-unexpectedly-holding-rate">kept its benchmark interest rate at 1.25%</a> when the large majority of economists were expecting a cut of 25 basis points to 1.00%. However, Norges Bank Governor Oeystein Olsen noted: "If economic developments ahead are broadly in line with that projected, there are prospects for a reduction in the key policy rate." Norway's krone is stronger by 1.3% at 8.0650.Another EU Economic Summit is getting underway. The two-day meeting in Brussels will be <a href="http://www.businessinsider.com/afp-greece-ukraine-to-dominate-eu-summit-2015-3#ixzz3UoQ0WNwQ">attended by leaders from across the eurozone</a> along with European Central Bank president Mario Draghi, Eurogroup president Jeroen Dijsselbloem, and European Commission head Jean-Claude Juncker. The Greek debt crisis and the possibility of extending sanctions against Russia are the key issues up for discussion. Greece's three-year yield is up 68 basis points at 22.34%.Quicksilver Resources has filed for bankruptcy. According to a regulatory filing, the energy company would face a "potential liquidity shortfall" in early 2016 as liabilities total $2.35 billion with only $1.2 billion in assets to show. Operations are expected to continue as the <a href="http://www.businessinsider.com/quicksilver-energy-files-for-bankruptcy-2015-3">Chapter 11 filing</a> gives Quicksilver the opportunity to restructure its debt. Yahoo is leaving China. The company will close its Beijing Research Center, the only remaining office on Mainland China. Between 200 and 300 employees, or about <a href="http://www.businessinsider.com/yahoo-lays-off-200-in-china-more-than-700-total-in-5-months-2015-3">2% of Yahoo's global workforce</a>, are being laid off as CEO Marissa Mayer continues her cost-cutting efforts. Honda Motor Corp. announced more recalls. The Japanese automaker announced another 104,871 recalls because of <a href="http://www.bloomberg.com/news/articles/2015-03-19/honda-adds-more-vehicles-to-u-s-recalls-on-air-bag-flaws">faulty air bags</a>. The recall affects the 2001 Accord, 2004 Civic, and 2008 Pilot. Stocks are higher around the world. Australia's ASX (+1.9%) led the advance in Asia, while Italy's MIB (+1.2%) outperforms in Europe. US economic data is heavy. Initial and continuing claims and the current account balance will cross the wires at 8:30 a.m. ET, while Philadelphia Fed and leading indicators are due out at 10 a.m. ET. Natural gas inventories are scheduled for release at 10:30 a.m. ET. The US 10-year yield is higher by 2 basis points at 1.94%. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/going-clear-sundance-premiere-scientology-bombshells-2015-1">6 Crazy Things Revealed In HBO's Explosive New Scientology Documentary 'Going Clear'</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o5dzJpczpndV8YG9M7cnoa3JXgQXBqja" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

10 things you need to know before the opening bell

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Editorial note: This story was originally reported by Joanna Zuckerman Bernstein and Ben Klayman of Reuters. Business Insider has added additional contextual detail about the Takata recall. 
The dusty, industrial town of Ciudad Frontera, Mexico, has moved from the far reaches of the global auto supply chain to the front lines of an investigation into why air bags from Takata Corp are blowing up with lethal force in accidents.
The Takata plant there has been confirmed as the source of defective air bags made in 2001 and 2002 and again around 2012, according to recall records, automakers and regulators. In 2006, the factory blew up, driving home for workers and residents the volatility and risk of the explosive compound at the core of Takata's air bags.
Airbag manufacturers such as Takata favor low-humdity regions to assemble airbags, due the the risks associated with inflator propellant. Prior to this week, the massive Takata recall in the U.S. had been regionally focused on southern states and territories such as Puerto Rico. 
But on Monday, the National Highway Traffic Safety Administration (NHTSA) expanded its recall demand of major automakers to be nationwide.
A whopping 17 million vehicles with Takata airbags have been recalled globally. In the U.S., 11 million vehicles are now under recall.
Additionally, NHTSA has ordered Tokyo-based Takata Corp to submit a wide array of records, including those pertaining to manufacturing controls at the Mexican plant, as part of an investigation into why its air bags have shot shrapnel at drivers in five fatal accidents from Oklahoma to Malaysia.
On Thursday, executive from Takata and Honda are scheduled to testify before Congress. Apart from automakers and Takata, which controls over 20 percent of the global airbag market, questions are now being raised about the governments lack of urgency regarding a recall whose details are disturbing. 
The Takata recall follows on the heels of two other massive recalls in recent years: the 2010 Toytoa recall for issues related to vehicles allegedly accelerating out of control; and the more recent General Motors recall, for a widespread problem with ignition switches that can disable airbags in certain cars.
All five of the Takata victims - including three in the last 14 months - were hit by shrapnel from air bags in Honda vehicles. At least another 160 injury claims involving cars from several automakers have been reported to NHTSA, according to Reuters.
Interviews with 21 former and current Takata workers and consultants, along with company presentations and email reviewed by Reuters reveal the pressure inside the Japanese supplier to ramp up output and drive down costs for inflators - the mechanism that triggers air bags to deploy in a fraction of a second after a crash.
The accounts include the concerns of managers that workers broke quality rules to boost output. It isn't clear whether the productivity pressures and quality issues they describe led to specific accidents. But the portrait they draw suggests that top executives at the company were not fully aware of what was going on at the foreign factories that churned out millions of air bags. So far, the Takata problems have led to the recall of over 16 million vehicles worldwide.
"We are highly focused on cooperating with NHTSA and the (U.S.) government investigation," Takata's U.S. spokesman Alby Berman said in response to questions sent by email.
The NHTSA administrative order requires Takata to supply documents and answer questions under oath related to any problems in producing air bag inflators. The order was prompted in part by an Oct. 17 Reuters report detailing production and quality problems at the Mexico plant. The company has until Dec. 1 to comply. In addition to the regulatory probe, Takata faces a criminal investigation by U.S. prosecutors.The investigations come as the Mexico plant gears up to make parts needed to replace millions of air bags in the ongoing vehicle recalls.
'WE'RE SCARED'
On the evening of March 30, 2006 Takata's Mexican air bag factory exploded a year into its run as the company's main inflator production point. The series of blasts blew out windows on houses a kilometer away and threw up fireballs as workers and residents fled to escape injury, witnesses say.
Remarkably, residents and workers say, there were no injuries. Hundreds of workers inside the factory that evening all managed to evacuate, some by climbing over a factory fence because a gate had been mistakenly left shut.
Takata never announced the exact cause of the 2006 explosion, workers there at the time said. An official at the fire department, where Takata has donated trucks, said he had no records from that time.
Some workers said the blast was fueled by bunkers of ammonium nitrate stored next to the plant. Takata air bags are inflated using ammonium nitrate, an explosive propellant that is encased in a canister to make an inflator.
Josefina Vargas lives next door to the Takata factory. She said the first sign of trouble from the factory was a thin line of smoke visible from the sidewalk in front of her house. Vargas, 52, who did not work at Takata, remembers her shock as explosions threw fiery debris almost to her feet as she sat outside her house. Vargas and others fled by foot and by car.
"We're scared," Vargas told Reuters in recounting the explosion from her home where she sells tortillas and cookies. "When we hear a sound now, we think it's the plant."
Takata's Berman said the company's safety training had "allowed for the successful evacuation of thousands of employees within a few minutes of the discovery of the fire and prevented a possible loss of life." He said the company had put new safety policies in place after the accident.
Alejandro Perez, a former Takata facility manager, stayed at work for four days straight after the accident, taking short breaks to go home and nap or shower, he said.
The company offered workers who returned and stayed on the job special incentives, Perez and other workers say. Takata raffled off televisions, refrigerators and cars, and even held Easter services at the plant for workers on the job that April 16. 
Takata managers were proud of the comeback. They marked the rebuilding with a commemorative in-house coffee table book with pictures of the blast, and baseball caps stitched with the exact date and time of the first explosion. The company took a $21 million charge as it prepared for an IPO in November of that year.
Within a month, Takata had resumed production, fast enough so that customers such as Honda Motor Co., Ford Motor Co. didn't have to shut down their own factories due to lack of parts. Rival Autoliv also stepped up its output to make up for what Takata could not supply, the companies said at the time.
Demand for airbags in the current auto market is high, as automakers surge toward sales figures not seen since the pre-recession peak for the industry. In 2014, the U.S. auto market in on pace to see 17 million new cars and trucks sold.
Takata has protested NHTSA's demand for a nationwide recall, on the grounds that fixing potentially defect airbags outside the initial recall region will limit supplies of replacement components that could be used in places where the airbags are more likely to malfunction. 
UNRELENTING PRESSURE
On the ground, the pressure to restart and make up for lost production was unrelenting, especially from American managers who had been flown to Mexico, said Perez, the former facility manager. He was laid off at the plant in 2008. Other workers also said pressure remained high.
Takata workers said they had to make a quota of inflators - sometimes more than 200 per hour. "If you didn't make it, you would be behind and they wouldn't pay you a productivity bonus," said Jose Sanchez, 42, a former worker who made inflators at Takata from 2004 to 2010.
In 2010 and 2011, the Monclova plant was consistently behind quota in making a new kind of driver's-side air bag inflator. In an effort to crack down, supervisors used security cameras to catch workers on a line "fooling around," and apparently engaged in conversation rather than making inflators, an email circulated to staff that included still images from a camera shows. Takata's Berman said security cameras at the plant were there to prevent theft and not intended to monitor workers.
Around the same time, a worker was also cutting corners by trying to "rework" or fix defective parts on the inflator assembly line. That would have made it easier for them to meet output quotas. But Takata prohibited that practice in order to reduce the chances of bad parts being shipped to automakers, according to an email. Inflators identified as defective were supposed to be placed in a separate, red bin and then examined and repaired if possible by other workers, according to former workers.
Guillermo Apud, a supervisor at the plant, scolded other employees about this problem in a May 2011 email reviewed by Reuters. "Rework on the line is PROHIBITED!!!!" he said. "We can't have leaders/materials people/operators REWORKING material left and right without ANY control, this is why we have defect upon defect," his email, translated from Spanish, said. "We need to change NOW!"
Apud declined to comment. Berman said Apud was acting to reinforce company safety guidelines after finding an employee had improperly reworked an inflator. "The email is an example of the manager performing his supervisory responsibility and enforcing company quality controls," he said.
In 2012, Takata workers at the Mexico plant put the wrong part into inflators being readied for shipment, according to documents Takata and automakers filed with NHTSA. More than 350,000 vehicles from three different car makers were later recalled for that defect. The mistake was possible because parts bins were kept too close together, the company told regulators in Japan.
The mistake was not discovered until after a lawsuit was filed over an October 2013 accident when Brandi Owens, then 25, hit another car in stop-and-go traffic while driving a new GM Chevrolet Cruze. The Cruze's air bag exploded and hit Owens so hard it blinded her in the left eye, she said in the lawsuit filed in April 2014. Her case prompted a recall two months later, in June. Owens settled with Takata and General Motors Co on undisclosed terms in August.
A fatal accident just after that June vehicle recall illustrates the complexity of the problem facing automakers and safety investigators. Takata said a defective inflator from its now-shuttered plant in the U.S. state of Georgia was installed in a 2003 Honda City assembled in Thailand and sold in Malaysia.
On July 27, Law Suk Leh was driving that car when she hit another vehicle in the Malaysian town of Sibu on Borneo island. Law, who was in the final stages of pregnancy, was killed by a "severe puncture wound" to the neck when she was hit by a metal fragment after the car's air bag blew apart, Malaysian police said. Honda revealed details of the death last week in announcing a recall of another 170,000 vehicles to replace their air bags.
BOOMING DEMAND
For Takata, building the factory in Mexico in 2000 would enable it to help meet booming demand for air bags with cheaper labor, projections prepared for executives show.
By moving inflator production from two plants in the United States to Mexico, Takata saved $70 million in labor costs over five years to 2006, an internal company presentation shows, dropping the labor cost for making an inflator from $2 to about 75 cents. Takata's automaker customers benefited: the cost to them fell by more than 20 percent to less than $20 each, according to the presentation.
Mexico's auto industry has benefitted greatly from the North American Free Trade Agreement (NAFTA), which has enabled the country to position itself as source of low-cost labor in close proximity to the world's most dynamic market for automobiles: the United States.
By spring 2005, Takata's big bet on the Mexican factory appeared to be paying off. Workers at the Monclova plant, as it was known in the company, posed for a commemorative photo, raising both hands in the air in a banzai salute.
Soon afterward, Takata closed its factory in La Grange, Georgia, southwest of Atlanta. Takata had been reducing inflator production there and at a second U.S. plant in remote Moses Lake, Washington for four years, records show.
Worker morale had suffered at the plant in Moses Lake, built on the site of a former U.S. military base, workers there told Reuters. By 2000, a new management team prioritized meeting output quotas and enforced overtime as demand for U.S. cars and SUVs soared, former workers say. "We just burned people out," said one former worker, who like others asked not to be named. In 2002, the plant laid off 100 workers and sent more production to Mexico, media reports at the time said.
A series of mistakes by workers in handling ammonium nitrate at the La Grange, Georgia and Mexico plants between 2000 and 2002 left the explosive compound exposed to dangerous levels of humidity, Takata told regulators in the United States and Japan.
Takata says inflators could be susceptible to rupture if exposed to moisture or extreme humidity. The defect in Law's airbag in the Malaysian accident was caused by humid conditions at the Georgia plant, Takata and Honda said.
It is unclear how much Takata's headquarters in Tokyo knew about the problems at its inflator plants. Takata did not dispatch permanent staff from headquarters to the Mexican plant as it ramped up output, workers say.
A Takata safety auditor dispatched from the United States inspected the Mexican inflator plant in May 2011 and found problems in handling the volatile ammonium nitrate. His audit report, seen by Reuters, faulted the plant for not closing bags of the compound tightly enough and for storing scrapped or contaminated propellant near good material, risking mix-ups. He said in his report he would not send the audit to Takata's headquarters in Tokyo.
Shigehisa Takada, the grandson of the founder, now chairman and chief executive, has said the company made a mistake by allowing too much autonomy to its local managers in North America during a period of rapid growth. Takata acquired at least six companies in the United States and Germany between 1989 and 2012.
"Back then, the U.S. markets were expanding very rapidly, and we could not see everything that was happening there," according to a recording of Takada's speech to a closed shareholders meeting in June. It was his most recent public appearance.
(1 US dollar = 116.5800 Japanese yen)
(Additional reporting by Yoko Kubota in Tokyo, Gabriela Lopez in Ciudad Frontera and Paul Lienert in Detroit.; Writing by Kevin Krolicki, editing by Bill Tarrant and Peter Hirschberg.)

A Takata Airbag Plant In Mexico Blew Up In 2006

<table class="image-container float_right" width="200"><tr><td><div class="image"></div>(AP Photo/Jacquelyn Martin)</td></tr></table>TOKYO (AP) — Asian shares rose Wednesday as <keyword id="6355311" type="COUNTRY" weightage="60" keywordseo="Japan">Japan</keyword>'s benchmark surged to its highest level since Sept. 2008 though wariness over corporate earnings pulled European indexes lower in early trading.
The Japanese <keyword id="76265" type="PERSON" weightage="60" keywordseo="yen">yen</keyword>'s slide to a three-year low on news the <keyword id="79248" type="CITY" weightage="60" keywordseo="Bank-of-Japan">Bank of Japan</keyword> governor will resign early spurred a 3.8 percent jump in the <keyword id="6369535" type="COMPANY" weightage="60" keywordseo="Nikkei">Nikkei</keyword> 225 stock index. It gained 416.83 points to 11,463.75 as export shares soared on expectations of stronger sales thanks to the yen's slide against other major currencies. Toyota Motor Corp. jumped 6 percent, Honda Motor Corp. added 3.3 percent and Sony climbed 3.8 percent.
The Japanese yen was trading at 93.68 yen per U.S. dollar, its lowest level in almost three years after BOJ Gov. Masaaki Shirakawa said he will step down three weeks early, for logistical reasons. Some investors took it as sign that whoever replaces Shirakawa will be likely to comply with pressure from the government to ease monetary policy to help stimulate economic growth.
Shirakawa said he is stepping down in tandem with his top deputies on Mar. 19 instead of when his own five-year term ends on April 8 and that his decision was not motivated by political pressure. But the central bank has been perceived as resisting pressure for more drastic monetary easing, despite its agreement last month to set a 2 percent inflation benchmark as demanded by Prime Minister Shinzo Abe.
In early European trading, Britain's FTSE 100 edged down 0.6 percent to 6,278.84. The CAC-40 in France fell 0.2 percent to 3,686.10 and Germany's DAX lost 0.3 percent to 7,641.81.
Arcelor-Mittal SA, the world's largest steelmaker, posted a larger loss for the fourth quarter due to write-downs and charges related to its European business while Vinci SA, Europe's biggest builder, also reported a drop in 2012 profitability.
Wall Street was set for modest gains with Dow Jones industrial futures up 0.2 percent at 13,941. S&amp;P 500 futures added 0.2 percent to 1,508.20.
Hong Kong's Hang Seng rose 0.5 percent to 23,256.93, Australia's S&amp;P/ASX 200 gained 0.8 to 4,921. In mainland China, the Shenzhen Composite Index added 0.5 to 951.52 while the benchmark Shanghai Composite Index added 0.1 to 2,434.48.
South Korea's Kospi erased early gains to fall for the fifth straight day, edging down 0.1 percent to 1,936.19. Shares in Malaysia and New Zealand fell, while benchmarks in Singapore, Taiwan and Indonesia rose.
"The recovery in overseas markets provided an excuse for the market to bounce back" after falls earlier in the week, said Kwong Man Bun, chief operating officer at KGI Securities in Hong Kong.
Strong gains in regional markets are partly being driven by higher liquidity thanks to the yen's weakness, which has brought on a flurry of carry trades in which traders borrow in a weaker currency with low interest rates, such as the yen, and use the funds to buy higher-risk shares in other markets, such as Hong Kong.
Wall Street and European stock markets pushed higher Tuesday after new indicators suggested the combined economy of the 17 euro countries is past the worst of its recession and the U.S. recovery remains on track.
A surge in U.S. home and stronger earnings helped push U.S. shares higher. The Dow Jones industrial average gained 99.22 points to 13,979.30, recovering much of what it lost Monday in the worst sell-off so far this year. The index traded above 14,000 during the day before falling back in the last hour.
The Standard &amp; Poor's 500 gained 15.58 points to 1,511.29. The Nasdaq composite was up 40.41 points to 3,171.58.
In energy markets, benchmark crude for March delivery was up 3 cents to $96.33 per barrel in electronic trading on the New York Mercantile Exchange.
The euro was down 0.2 percent at $1.3536.

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