Word: toyotas
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
America's General Motors Corp. and Japan's Toyota Motor Co. are by far the biggest automakers in their respective countries and produce nearly 25% of the world's automobiles between them. So when the two giant firms signed a $300 million preliminary agreement last week to build a subcompact car in California, GM's U.S. rivals sensed a threat to their business and let out cries of alarm. The loudest came from Lee Iacocca, chairman of Chrysler Corp., which is counting on small cars to help fuel its comeback. Iacocca called the GM-Toyota arrangement...
...rivals want the Federal Trade Commission to bar the venture as a violation of antitrust law. An official of the FTC, which is reviewing the deal, said that a decision on whether to challenge it would be "a very close call." The GM-Toyota linkup has congressional critics too. One opponent, Ohio Representative John Seiberling, has urged early hearings on the agreement...
Competing carmakers fear that the arrangement will make GM and Toyota even tougher to beat. GM, the world's largest car manufacturer, already commands about 44% of the U.S. market. Toyota, the third biggest automaker (after Ford), has a 6.6% U.S. market share, less han Chrysler (10%) but more than American Motors...
...small cars a year in late 1984 in a GM plant in Fremont, Calif, that once employed as many as 6,000 workers but has been idle since March. The front-wheel-drive subcompact-quickly dubbed the Toyolet in Detroit-will be patterned on a new version of the Toyota Corolla and will sell for a base price of about $6,500. GM and Toyota will be equal partners in the plant, but Toyota has the right to pick the boss. The firms expect the enterprise to hire 3,000 workers in Fremont and create 9,000 more jobs...
Japan has been prodding Toyota for some time to begin producing cars in the U.S. to help ease trade tensions between the two countries. The company has been slow to move, although Honda Motor Co. is assembling Accord subcompacts in Ohio, and Nissan Motor Co. will build pickup trucks later this year in Tennessee. Growing protectionist sentiment in the U.S. may have given Toyota a nudge. The new venture will give the company greater access to the U.S. market. Fearing an American clampdown on their autos, the Japanese agreed to limit exports to the U.S. for the past two years...