Toyota Exec Urges Japan Cos. to Up Prices

[idlisambar]

TOKYO - Toyota's chairman is urging Japanese automakers to raise prices or find other ways to even the playing field with ailing U.S. rivals General Motors and Ford in hopes of heading off a possible protectionist backlash in the crucial North American market.

Toyota Motor Corp. Chairman Hiroshi Okuda was quoted by Japanese media on Tuesday as saying the plight of General Motors Corp. and Ford Motor Co. could result in problems for Toyota and other foreign carmakers.

Okuda told reporters Monday that Japan's auto industry must consider a response, such as raising car prices in the United States and cooperating in technology.

"We need to give some time for American companies to take a breath," Okuda was quoted as saying by the Nihon Keizai Shimbun, Japan's biggest business daily.


http://news.yahoo.com/news?tmpl=story&u=/ap/20050426/ap_on_bi_ge/japan_toyota_prices


Interpretations anyone?

[phantom power]

1. They remember the 80s.

When many people took their frustrations at the big three out on Japan.

This is even more embarrassing. It's like being offered a big handicap by your opponent.

[underthedome]

2. Outdated story

Toyota won't help U.S. rivals

Auto manufacturer bucks politics, says it won't raise car prices to help North American competitors.


http://money.cnn.com/2005/04/26/Autos/toyota.reut/?cnn=yes

[idlisambar]

4. Thanks for the update

It was an odd statement to begin with. Toyota and the others have done a very good job of "Americanizing" their image compared to the 80's -- showing off their American factories and the like. I had not detected much anti-foreign car sentiment on either side of the political spectrum. Even Jennifer Granholm is courting Toyota.

[HereSince1628]

3. Gee, I thought the US was unable to use protectionist laws because

the WTO was so EFFECTIVE!

The Japanese thinking they need to take action to forestall the damage US protectionism would do to them makes my picture of the WTO and globalization come all the hell out of focus.

Did the Japanese Robber-Baron's just wake up to the reality that America can't be a leading consumer market unless Americans have jobs, or is it just that the Japanese investor class stands to get slammed by huge losses when GM goes bankrupt?