Word: auto
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Dates: during 2000-2009
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...less than a comparable Toyota or Honda in the U.S., but with rising labor costs and a weaker dollar, Hyundai must persuade customers to pay more so that profits keep growing. Last year, Hyundai's earnings edged up a mere 2%, while sales grew 10%. Zayong Koo, an auto analyst at Lehman Bros. in Seoul, says it could take several years before Hyundai achieves this crucial pricing power: "They need to show a track record of good-quality cars in order for them to take that next step and raise pricing...
There isn't much good news from General Motors these days. Its once dominant U.S. market share is slipping. Steel and labor costs are mounting. Profits are evaporating. But there's an unexpected bright spot in Asia: GM's South Korean unit, GM Daewoo Auto & Technology. In 2002, GM and its partners acquired the choicest assets of bankrupt Daewoo Motor for $440 million?and it looked like they overpaid. Daewoo's market share in Korea was shrinking and its factories were running at half their capacity. Union members tried to thwart the deal by rioting around the main factory near...
...program calls for tariffs to be reduced or eliminated on 1,853 products, including telecommunications equipment, auto parts and plywood. In addition the government will make a fresh start at dismantling the maze of regulations that hamper efforts by foreign companies to sell in Japan. Imported cars, for example, will no longer have to be inspected at the Ministry of Transport, though they will still be looked over by dealers. Companies that sell foreign-made nail polish will not have to get government approval for each new color. Importers of pharmaceuticals will not need a license from the Health...
...week that the American trade deficit in June was $13.4 billion, the second highest monthly total in history. More than a third of that shortfall resulted from a $4.6 billion deficit with Japan, which matched a record set in July 1984. Most alarming was a 42% rise in Japanese auto shipments to the U.S. between May and June. That jump followed a controversial decision last March by Japan to ease its voluntary quotas on car exports...
Howard Fields, 56, had no intention of changing his ways just because of an unfair regulation. After all, the autoworker had parked in the front lot of Ford's Lima, Ohio, engine plant for 28 years. So when United Auto Workers Local 1219 and Ford last year signed an agreement requiring employees with foreign cars to park in a back lot more than half a mile away from the factory, the old-timer ignored the new rule and continued to leave his 1981 Nissan in the front...