Word: toyota
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Dates: during 1980-1989
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What is the No. 1 foreign auto in the U.S.? Since 1975 the titleholder has been Japan's Toyota, but maybe not for much longer. After a dingdong sales battle, auto-industry experts forecast that by year's end, U.S. car buyers will have crowned another best-selling make. The new champion: Honda, a product from a company that little more than a decade ago was more famous for its motorcycles and motor scooters than for its automobiles. The spunky Japanese car manufacturer, which sold only 9,500 cars in the U.S. during its first season in 1971, expects...
Honda's rivals are only beginning to catch up. Nissan began building autos last year in Smyrna, Tenn., and Toyota is constructing a plant in Georgetown, Ky., that will start assembling vehicles in 1988. But Honda is not standing still either. The automaker began building engines at a separate plant near Marysville in July 1985. It is now gearing up a second Marysville assembly line that will increase the factory's U.S. production to 360,000 cars annually...
...Ichi Kangyo. The name does not have the same familiar ring as Toyota, Honda, Sony or Nikon. But Tokyo-based Dai-Ichi Kangyo is a global business enterprise that has, in a sense, become more powerful than all those other Japanese companies combined. According to figures released last week by the American Banker newspaper, Dai-Ichi Kangyo, whose assets reached $207 billion in the first quarter, has just surpassed New York's Citicorp ($176 billion) as the largest banking company in the world...
...Toyota sedan drew up to the hillside Dublin mansion of John Guinness, a local banker related to the celebrated clan of brewers. After ringing the doorbell, three hooded men, brandishing guns, forced their way into the house and began ransacking it for valuables. Then they started to make off with Guinness's daughter Gillian, 23, before acceding to the request of her mother Jennifer that they take her instead. As the hoods left, they demanded a $2.6 million ransom...
...more dollars to receive the same number of yen. In a report last week, the Japanese Ministry of International Trade and Industry revealed that manufacturers of cars, computers, semiconductors, cameras, color television sets and videocassette recorders were planning to raise prices further in the U.S., adding to recent increases. Toyota, the largest Japanese automaker, has marked up its price tags by an average of 7% since the beginning of the year. A Toyota Cressida now costs $17,480, up 11.4% from $15,690. In the same period, the price of a Honda Accord LX has increased...