Word: yens
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...enhanced by a trend that could be reversed at a moment's notice -- the cheapening of the exchange value of the dollar, which lowers the price of American goods to foreign buyers. Says General Electric's chief executive Jack Welch: "If the Japanese are prepared to compete at 90 yen to the dollar, the U.S. must be prepared to compete at 130 yen to the dollar. Until we are, we delude ourselves if we think we are in control of our own fate...
...Three's old defeatist philosophy about selling cars in Japan was to keep the prices high and market the cars as novelties. But last year, when the yen rose sharply against the U.S. dollar, Chrysler and Ford could afford to cut prices sharply. To their surprise, sales of the popular Taurus doubled, and last month the Jeep Cherokee became the first U.S.-made model in Japan to rack up more than 10,000 sales in a year. Clearly the fussy Japanese buyer who demanded a museum-quality body finish is in retreat; in his place is a worker whose income...
...threat of them has persuaded the Japanese to simplify the costly car-inspection procedures for importers and ease the industry's grip on the dealership system. Too much pushing on this front, however, could spoil a good thing. Unresolved trade talks help keep the Japanese concessions coming and the yen strong because the largest source of its trade surplus with the U.S. remains untouched. That is one reason U.S. Trade Representative Mickey Kantor did not impose broad sanctions when Washington and Tokyo failed Sept. 30 to reach a market-opening agreement on autos and assembly parts. Another is that Detroit...
Awarded by Japan, the prize consists of ten million yen, or about $99,000, and a medal. Both will be presented on November 28 at a ceremony in Tokyo, attended by Emperor and Empress Akihito...
Economists point out that the cheaper dollar will help, since more than half the key components in U.S.-assembled Japanese cars are still made in Japan. As Cedergren points out, "At 98 yen to the dollar, there is not a whole lot the Japanese can do about it." Other industry experts wonder, though, if the pricing advantage will really boost Detroit's cause all that much. As long as so many consumers trust Japanese cars, they may be willing to pay a little more for them. Says David Andrea, who follows auto pricing for AutoPacific in Detroit: Buying Japanese...