Word: forde
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...state fair last year, you might have noticed a group of Japanese men dressed in jeans and boots, gazing at the sea of pickup trucks in the parking area. The men were from Toyota, which has been trying with scant success for years to persuade Americans to dump their Ford and Chevy pickups--the cowboy Cadillacs of the heartland--for a Toyota. Spending hours observing folks as they tailgated, hitched up horse trailers and hauled everything from plywood to goat sheds, the Japanese took copious notes, even if they still couldn't quite understand the American lovefest with the pickup...
...Tundra is part of a massive increase in Toyota's global production that will have far-reaching repercussions for the firm's future and that of the entire U.S. auto industry. The history of the car business shows that bigger isn't always better: Toyota's top two rivals, Ford and General Motors, have struggled to make money despite leading in market share. Toyota, in contrast, has reeled in cash by controlling costs and focusing on vehicle quality. So is the company, in piling on capacity, inadvertently embracing a strategy that has proved perilous for its competitors? And how will...
Conquering the truck market won't be easy either, in part for cultural reasons. Pickup country is perhaps the last auto segment in which patriotic shopping habits prevail. Despite years of knocking at the market, Toyota sold just 107,000 Tundras in the U.S. last year, while Ford sold 916,000 F-Series trucks. Although Nissan and Honda have joined Toyota in the truck market, heavy investment has made Detroit's pickups more competitive than its cars. And Detroit can still count on the stubborn-guy factor. "I'd consider driving a Chevy, but that'd be about...
...With some of its biggest rivals in disarray, Hyundai sees an enticing opportunity to build on its progress overseas. Slammed by rising costs and slumping sales, General Motors recently shocked investors by predicting a first-quarter loss, and Ford followed this month by downgrading its 2005 profit forecast. Chung is determined to keep the pressure on. He's moving Hyundai's product line away from its traditional small cars into larger, higher-profit vehicles. In October, Hyundai unveiled a small sport-utility vehicle, the Tucson, and later this year, the company will launch a new high-end sedan...
...quintessential kiss-up, kick-down sort of guy." CARL FORD JR., former U.S. State Department intelligence chief, testifying in Senate hearings about the management style of John Bolton, nominee for U.S. ambassador to the United Nations...