Wow, 2008 was a rough one. The broken connecting rod of bad loans punched a gaping hole straight through the engine block of the global economy. Across the board, carmakers’ sales plummeted by 30 to 40 percent, affecting any business even remotely connected to the auto industry.

From the bankruptcy of aftermarket companies like Trust/GReddy to the utter collapse of magazines like Sport Compact Car and Turbo, no one was left untouched. We at JNC are feeling the crunch too, as potential advertisers slash their budgets.

Detroit was hit the hardest, but Japanese companies are feeling the crunch as well. Upcoming supercars like the NSX have been killed as Honda pulled out of F1, and Subaru withdrew from WRC. Even Toyota, a long-time bellwether for the world economy, went from a $28 billion profit in 2007 to a $1.7 billion loss, causing a delay in their return to affordable, lightweight RWD cars.

We also lost greats like Toyota Team Europe rally driver Ove Andersson, Nissan racer Paul Newman, and Toyota designer Tatsuo Hasegawa.

But hey, look on the bright side. Japanese Nostalgic Car launched a print magazine in April. Yes, it was probably the worst time in history to launch a new magazine, but we’re still working hard to give vintage J-tin some cred in the world of classic cars.

This year was also Subaru’s 50th anniversary and Subaru USA’s 40th. Nissan USA also celebrated its 50th birthday, though it did precious little to acknowledge it. But what else is new? At least they recognized their roots when it came to the new 370Z. Honda’s Super Cub also celebrated a half century and an incredible 60 million units sold making it the best selling vehicle of all time.

Anyway, as you gaze upon fireworks exploding above Tokyo’s legendary wangan expressway, remember this: at least there’s 2009! Happy New Year!

[Image: Yakei-Kabegami]

Our hopes for a return to RWD Toyotas have been dashed on account of the drastic worldwide economic downturn. The lightweight coupe, widely assumed to be a RWD Corolla successor, has been in the works since August 2007 but according to this article the project has been put on hold until at least 2012. This comes with the news today that Toyota has posted its first operating loss since 1938, its first year in business. But those are just the beginning of woes that are slamming the Japanese auto industry. (more…)

Here’s a promotional video from 1969 extolling the virtues of the new wondercar from the Land of the Rising Sun, the Sue-BARR-oo 360. Look, it can park perpendicular to the curb between two massive Detroit land yachts! It may be “Cheap and Ugly” but it’s the car of choice for chefs, Vegas showgirls, and “very groovy chicks.” The Autodrive feature means “No clutch, just touch” and there’s even a “Super Sport” version with bucket seats. Watch as it catches major air and goes to the track for some loose-tail drifts that almost puts it into a fence!

And who wouldn’t want a 360 side-loading pickup? Known as the Sambar in Japan, it had a twin in a van body and is perfect for moving your giant wooden TVs! Follow that up with the 1000, known as the Star in the US, which climbs the hills of San Francisco with ease, and you’ve got the 1969 Subaru lineup. It’s what’s happening!

Thanks to TSiSS350 for the tip!

We’re getting on our favorite hobby horse again and talking about how Japanese automakers don’t talk about enough their past products. We’re lookin’ at you, US subsidiaries! For example, this year was Nissan USA’s 50th anniversary, but you wouldn’t know it from attending the LA Auto Show. The event was dominated by Nissan, but at no point, not in CEO Carlos “Mr. Bean” Ghosn’s keynote address, or the debuts of the Nissan 370Z, Cube or Infiniti G37 convertible did the speakers give any hint of this milestone.

On the other hand, if you have Issue 2 of Japanese Nostalgic Car magazine, you’ll know that Subaru’s 50th birthday party in Japan has been one year-long bash. In fact, they won’t shut up about it. Here’s a cute post titled “Grandfather and Grandson” from the company’s blog, talking about a photo shoot that paired up a 360 with a new Impreza STI for Cartopia, their monthly magazine. Here they are teaming up with toymaker Tomica for vintage Sambar Fire Truck and FF-1 models. (more…)

It’s been a while since we’ve posted about the upcoming cars that are, unbeknownst to most of the car-buying public, based on our favorite nostalgics. First up, there’s been a cavalcade of spy shots and rendered images of the Nissan 350Z, which looks like it will definitely receive its forefathers’ C-pillar treatment. The front air intake has been likened to a vampire, which may explain why there have been spy shots of it prowling graveyards. More shots and a video can be seen floating around the internet, as well as after the jump. (more…)

More T-shirts featuring old Japanese cars are popping up all over the place. Normally they’re all the popular models from Nissan and Toyota, leaving kei car fans a bit left out. But thanks to JNCer xemoto, here’s one of a Honda N600! It’s part of a series that also features a Subaru 360, BRE Datsun 510 leading an Alfa Romeo, and a whole host of other European microcars.

Speaking of microcars, someone sent in four old Subaru 360 commercials to Jalopnik today. The car’s $1297 price tag and 66mpg are heavily touted, as is the price of a carburetor, just 13 dollars. I guess when you’re calling your own car “Cheap and Ugly” right there in the ad, cheap is the selling point you want to go with. These spots also raise the question, when did they change the pronunciation from SuBARu to SUbaru?

[Jalopnik]