Honda (HMC) is angling for a bigger piece of the emerging markets transport business -- and heading off low-cost local competitors -- with a cheap motorcycle.

The new $600 bike is aimed at China, Latin America and West Africa, where currently Honda's cheapest offerings are approximately 15% to 25% more expensive.  While motorcycle sales in North America and Japan plunged last year, they are still climbing in the world's emerging markets as relatively vast populations move into the cities and join the global middle class. Motorcycles in particular are considered an "entry-level" vehicle and so cost is critical in this space. HMC executives note that their company "needs to be right there" at the low end in order to compete with Chinese and Indian rivals like Mahindra & Mahindra, which are ramping up sales as fast as they can pump out bikes. [Read the full article]

Ford Motor Company receives the 2010 Distinguished Service Citation for outstanding contributions to the National FFA during a partnership that stretches back 62 years.All National FFA Chapters are invited to participate in the award-winning teen safe driving program, Ford Driving Skills for LifeFord awards $100,000 in College Community Challenge grants to universities to encourage use of alternative energy in small farm operations. Ford's extensive involvement in the sustainability and future of American farming is being recognized today before the 55,000 attendees at the annual convention of the National FFA Organization (formerly Future Farmers of America). 2010 marks the 62nd year of National FFA support by Ford Trucks, participating Ford Truck dealers and Ford Fund and Community Services. [Read the full article]

The Toyota Motor Company announced a global recall of 1.53 million vehicles on Thursday because of brake and fuel pump problems, but stressed that the repairs reflected a companywide effort to be more active in addressing potential flaws. The 2005 Toyota Avalon is among models covered by Toyota(TM)s latest recall, which includes 750,000 cars in North America. Toyota, the world’s largest automaker, will call back about 750,000 cars in North America, including Lexus and Avalon models, and 599,000 cars in Japan. The recalled models were mostly made from 2004 to 2006, a period of rapid growth for Toyota that analysts have charged coincided with lapses in the automaker’s attention to quality. About 140,000 cars in the rest of Asia and Australia, and 50,000 cars in Europe, also are being recalled. [Read the full article]