Word: toyotas
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...Detroit Three recently presented detailed restructuring plans to Congress - an application for loans and credit lines to tide them over until the economy rebounds. U.S. auto sales were down more than 30% in October - even Toyota wasn't spared. Detroit wants $34 billion to shelter 3 million jobs and $300 billion worth of business. The first time the companies came calling, on Nov. 19 and 20, Congress blew a radiator. "Even though all Americans want this industry to succeed, I cannot support a plan to spend taxpayer money to bail them out" is the way Spencer Bachus, the ranking Republican...
...What is particularly ironic about the Big Three's situation is that the companies are now as near to their long-sought goal of parity with the Japanese firms Honda and Toyota as they are to collapse. In the past couple of years, Detroit has closed the quality gap. Its cars are competitive on engines and drivetrains and fits and finishes. Some top-class products score well with car rater J.D. Power, such as the Cadillac CTS and Ford's new F-150. "What exposes us to failure now is not our product lineup or business plan or our long...
...Experts point to GM's interaction with Toyota at the New United Motor Manufacturing Inc. (NUMMI) plant in Fremont, Calif., as emblematic of the industry's learning disability. NUMMI was established in 1984 as a joint venture between the two companies, using GM's plant, the Toyota production system and the UAW workers who were already there. The plant had been one of GM's worst; the Toyota system made it one of GM's best...
...truck-heavy product lineup began to sag in the face of higher gasoline prices. So for the first 11 months of 2008, GM's sales have fallen 21.9%. While that is comparable to Ford and Chrysler (down 20.6% and 27.7% respectively), it's far worse than Asian competitors. Toyota is down 13.4% this year, Honda has declined just 5.4%, and Nissan has shrunk by 9.1%. They will be far better positioned to rebound once the market recovers...
Worse from a profitability point of view, GM's product line is currently skewed toward pickups and SUVs, unlike Toyota et al. So declining sales in those segments takes a much bigger bite out of GM's bottom line...