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Watanabe vowed Toyota would grow so lean it will be able to realize profitability even if its worldwide sales slide to as low as 7 million vehicles — what he called the basic "bottom line" for Toyota. He promised his workers would offer "ideas as well as sweat" to steer the automaker through difficult times.
Contrast that to the United States. I don't see a lot of lean. I see some promises of lean and I see a lot of resistance to going lean. The UAW is fighting wage cuts and Bush is punting to Obama, whom they will try to sway. Mually, Ceo of Ford, making 21 million says "I think I'm OK where I am." Bloomberg.com: Worldwide
This does not come as a suprise at all, it is all of the automakers that are down not just the Detroit Three. Look at the sales information throughout the year. Just last month Toyota's sales sank over 30% since last year and so did Honda and Nissan.
A lot of households now own an extra car from last summer's oil bubble. They went out and bought a new hybrid or a used econobox for commuting. At the same time, dealers were refusing to accept SUVs and minivans as trades unless the owners took big haircuts. Many car buyers just held onto their gas guzzlers rather than trade them in since they owed more than the vehicles were worth.
Watanabe vowed Toyota would grow so lean it will be able to realize profitability even if its worldwide sales slide to as low as 7 million vehicles — what he called the basic "bottom line" for Toyota. He promised his workers would offer "ideas as well as sweat" to steer the automaker through difficult times.
Contrast that to the United States. I don't see a lot of lean. I see some promises of lean and I see a lot of resistance to going lean. The UAW is fighting wage cuts and Bush is punting to Obama, whom they will try to sway. Mually, Ceo of Ford, making 21 million says "I think I'm OK where I am." Bloomberg.com: Worldwide
While this loss is based on "worldwide" operating and/or sales, I'd be curious to know how the U.S. market affected their loss. It would seem to me that Toyota (and Ford as well) are doing better in non-U.S. markets. So I'm curious to know what their business models (and profits) are, in Europe, Australia, Africa and Asia.
Just wait, I am waiting for the Congress to start appealing to the public about the "need" to bailout foreign companies... and then the "need" to bailout foreign governments...
While this loss is based on "worldwide" operating and/or sales, I'd be curious to know how the U.S. market affected their loss. It would seem to me that Toyota (and Ford as well) are doing better in non-U.S. markets.
From the LA Times: "Toyota's sales in the U.S. -- the carmaker's largest single market -- fell 34% last month and are down more than 13% this year."
^^^
I'd say that indicates the slump in the USA is hurting them the most.
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