News

The Honda Indy Toronto was once again the backdrop for an incredible show of generosity from race fans, the Ontario Honda Dealers Association (OHDA) and the Honda Canada Foundation (HCF). Total donations for Make-A-Wish® Canada were a sizeable $75,000, thanks to a $30,000 contribution by fans matched by the OHDA and HCF, and generous contributions of $5,000 and $10,000 from new partners Tim Hortons Inc. and Johnsonville Sausage.

This was the 30th year of racing on the streets of Toronto and the seventh straight year for Make-A-Wish® fundraising efforts at the Honda Indy Toronto. Over that time, spectators and partners have raised more than $500,000 for Make-A-Wish.

“This is a true reflection of how big people’s hearts are and I know that everyone at Make-A-Wish shares in my excitement and sincere gratitude to Indy fans, the Honda Canada Foundation and Ontario Honda dealers,” said Jennifer Klotz-Ritter, president & CEO, Make-A-Wish Canada. “Programs like this play an instrumental role in our ability to bring strength and happiness to the lives of children with life-threatening medical conditions.”

Race fans of all ages were once again treated to the speed and spectacle of the race and fun of the surrounding festival on Fan Friday. Instead of admission, attendees were encouraged to make a contribution to Make-A-Wish. Donations were also accepted throughout race weekend for games and activities including face painting, racing simulators and Honda Junior Red Riders off-road riding program.  All contributions over the weekend were matched dollar-for-dollar by Honda Canada Foundation, the company’s national charitable arm.

“This is exactly what the Honda Canada Foundation is all about and the common values we share with Canadians,” said Dave Gardner, senior vice president of operations, Honda Canada Inc. “We’re thrilled about what we’ve accomplished together with thousands of Indy fans, our dealers and this year, a host of new Honda Indy Toronto partners including Tim Hortons and Johnsonville.”

New levels of cooperation and seven years of Fan Fridays

Joining Honda during the seventh year of Fan Friday were two new Honda Indy Toronto partners. Tim Hortons Toronto Restaurant Owners committed all proceeds from the on-site sale of coffee and lemonade which totaled $5,000, while Johnsonville Sausage pledged a $10,000 donation.

“We’re thrilled with the support we’ve seen from the fans and partners and hitting this half-million-dollar mark is a huge win for everyone involved in Fan Friday,” said Kevin Pearson, president, Ontario Honda Dealers Association. “I’m very proud of the work we’ve done together in support of Make-A-Wish and I know that’s a sentiment shared by Honda dealers across the province.”

Hometown hero and Honda ambassador, James Hinchcliffe, made a special appearance on Fan Friday to meet with a group of Make-A-Wish kids and their families. He took time to sign autographs, pose for photos and receive good luck ‘high-fives’ from smiling children before hitting the Toronto track for the first time since being sidelined for the 2015 season due to a serious, crash-related injury.

The races may be over, but there are always opportunities to donate to Make-A-Wish. To make a $5 donation, text the word ‘DREAM’ to 41010 from any mobile phone. With support from organizations like the Honda Canada Foundation and the OHDA, Make-A-Wish grants 500 wishes a year through eight regional chapters across the country.

Fiat Chrysler Automobiles (FCA) announced that it will stop using Takata airbag inflators that don't contain a chemical drying agent that have been proved to be less safe. The plan is to go in place as soon as next week until all units are removed in mid-September.

The inflators in question are ones that aren't equipped with a non-desiccated ammonium-nitrate chemical. In the FCA lineup, it appears that the Jeep Wrangler is the only model that comes with these specific airbags, which won't be a big overhaul for the Detroit-based automaker.

Takata has been in the news and under close scrutiny for over a year for having faulty airbags that could potentially deploy and spray out shrapnel into the face and body of the driver and passengers. The Japanese airbag company has had to deal with close to 70 million recalls worldwide since 2008 from 15 different automakers. Due to the explosive airbags, 13 reported deaths have been confirmed along with more than 100 other injuries reported.

Takata has ruled out using bankruptcy as a way of mitigating liabilities from its record airbag recalls and is instead seeking buyers that could take a controlling stake and carry the company through its safety crisis, according to a person with knowledge of the restructuring process.

Lazard, Takata’s financial advisor, will meet manufacturers as well as financial firms with the aim to find buyers by the fall, according to the person, who asked not to be named because the discussions are private.

Takata’s plan is to remain listed and maintain its core seat-belt, airbag and steering-wheel businesses, while selling off non-core operations, the person said. Company spokeswoman Akiko Watanabe declined to comment.

Any Takata suitor will be betting it can still make a return even after resolving claims from automakers, which until now have shouldered the vast majority of the costs of replacing air bags tied to the auto industry’s unprecedented safety crisis. Recalls of the devices, which can deploy with too much force and spray metal and plastic at passengers, are expanding by as much as 40 million units in the U.S., after 13 fatalities worldwide.

“There is no advantage and no one will benefit from turning Takata around through bankruptcy in this case,” said Taketoshi Tsuchiya, a credit analyst in Mizuho Financial Group’s fixed-income group in Tokyo. “Automakers can’t say they won’t go through with the recalls because Takata filed for bankruptcy. They have to continue paying for the costs on their own without Takata.”

New Management

In exchange for injecting capital, the founding family’s stake will be diluted, the person said. The company has targeted having new management in place this year, replacing executives including President Shigehisa Takada, the person said. A consortium of investors is also an option to raise funds.
Talks with potential buyers are at the preliminary stage and no offers have been made, the person said. Takata is negotiating with customers led by Honda over how much of the multi-billion dollar recall bill it will have to pay.

Takata is willing to be flexible with the restructuring plan as long as its top objective of supplying replacement air bags in a stable manner is met, the person said. Japan last week ordered the replacement of air bags in 7 million more vehicles, expanding the total number recalled in the country to about 19.6 million. Regulators earlier this month forced automakers to roughly double the number of air bags recalled in the U.S., to as much as 69 million.

“Now, the focus is on how Takata and automakers share the costs of air-bag recalls,” said Shintaro Niiimura, an analyst with Nomura Holdings Inc. “If Takata has to owe the majority of it, it would make it difficult for them to secure enough funds.”

Subaru of America Inc. today announced a comprehensive update to the 2017 BRZ including improved handling, increased performance, more aggressive styling and new convenience features. These enhancements continue the company’s original mission of offering enthusiasts a pure sports car with an unmatched driving experience.

The BRZ, known for its ultra-low center of gravity and precision handling, offers several updates to increase its performance on the track and open roads.  For improved responsiveness, stability and comfort, BRZ receives updated coil springs and dampers as well as a larger rear stabilizer bar.  Additional reinforcements to the chassis were added to the strut tower braces, transmission cross-member plate and the rear wheel housings to increase BRZ’s rigidity.  The stability control system thresholds are raised to further improve handing.  The results are dramatic enough for Subaru to change the name of “Sport” mode to “Track”. 

The BRZ 2.0-liter SUBARU BOXER engine receives several internal updates for friction reduction including new valves, camshaft and cylinder heads. Accompanied with a new aluminum intake manifold and redesigned exhaust manifold for increased air flow, the engine output in models with the 6-speed manual transmission is increased to 205-hp and 156 lb-ft of torque. Also, a lower final drive ratio from 4.1 to 4.3:1, paired with the standard Torsen® limited-slip differential, improves acceleration on models with manual transmission.

Now standard on all models is Incline Start Assist. This system holds the vehicle momentarily in position while the driver accelerates to prevent roll back on an incline.