Word: toyotas
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HERE'S A QUESTION YOU PROBABLY HEAR ALL THE TIME: READ ANY GOOD BOOKS LATELY? [Laughs.] I read a book recently about Toyota's lean production methodology, which is very interesting. I'm reading a new Alastair Reynolds science-fiction book about Earth being destroyed by nanobots. And I've been reading about rocket-engine development...
...bottom line. But just 34% of shoppers are now considering an SUV, a three-year low, according to a recent survey by Kelley Blue Book. Sales of fuel-saving hybrids, meanwhile, are expected to zoom from less than 1% of the market to 3.5% by 2012. Honda and Toyota sell the most hybrids, but GM plans to muscle in with hybrid versions of full-size SUVs like the Chevy Tahoe in 2007. With oil prices at record highs, GM dealers can hardly wait. --Daren Fonda
...Auto Workers. The U.A.W., which has saluted Mazda's Hofu training program as part of an "enlightened approach" to operating in the U.S., intends to organize the entire Flat Rock work force. That would create the closest partnership yet between a Japanese car company and an American union. Although Toyota's joint car-building venture with General Motors in Fremont, Calif., employs U.A.W. members, the union does not deal directly with the Japanese firm. Both Honda and Nissan use nonunion labor in their American plants...
...should be easy enough for Cho to recognize the secret of Hyundai's success. The South Korean company is following much the same formula that Toyota used decades ago to overcome its "cheap Asian import" stigma and become one of the world's most respected brands. When Hyundai first entered the U.S. market in 1986, its Excel sedan--an econobox with a $4,995 price tag--was an instant hit with frugal buyers. But customers soon discovered they were getting what they paid for: Excels were prone to quality-control problems and frequently needed to have parts replaced. Sales tanked...
...coming out and its U.S. plant just revving up, Hyundai may have a harder time maintaining quality. "They're not out of the woods yet," says J.D. Power's Parker. Dwindling profit margins are another problem. The average Hyundai car retails for 10% to 15% 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%. Lehman Bros. auto analyst Zayong Koo says, "They need...