Toyota May Increase Car Prices in U.S. (to save GM/Ford)
04-25-05 | 09:14 PM
#1
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Toyota May Increase Car Prices in U.S. (to save GM/Ford)
http://www.forbes.com/feeds/ap/2005/...ap1973045.html
Associated Press
Toyota May Increase Car Prices in U.S.
04.25.2005, 02:41 PM
Toyota Motor Corp.'s chairman suggested Monday the Japanese carmaker may consider raising the prices of the cars it sells in the United States to help support its ailing U.S. peers, Kyodo News reported.
At a news conference as the head of the Japanese business lobby Keidanren, Hiroshi Okuda, who is also Toyota's chairman, suggested the possibility of price hikes in the United States after U.S. car manufacturers General Motors Corp. and Ford Motor Co. reported weak earnings results last week, Kyodo reported.
Japanese daily Asahi Shimbun reported Okuda told reporters that the U.S. auto makers' problems could cause a backlash for Toyota and other foreign carmakers.
"I'm concerned about the current situation surrounding GM. Although a trade conflict, like ones happened in the past, may be avoided, there may be some impact (on Japan's car industry) because the car industry is symbolic in the U.S. economy," Okuda said.
He said Toyota "may need to adjust prices," hinting that it may increase the prices of its cars in the United States.
Associated Press
Toyota May Increase Car Prices in U.S.
04.25.2005, 02:41 PM
Toyota Motor Corp.'s chairman suggested Monday the Japanese carmaker may consider raising the prices of the cars it sells in the United States to help support its ailing U.S. peers, Kyodo News reported.
At a news conference as the head of the Japanese business lobby Keidanren, Hiroshi Okuda, who is also Toyota's chairman, suggested the possibility of price hikes in the United States after U.S. car manufacturers General Motors Corp. and Ford Motor Co. reported weak earnings results last week, Kyodo reported.
Japanese daily Asahi Shimbun reported Okuda told reporters that the U.S. auto makers' problems could cause a backlash for Toyota and other foreign carmakers.
"I'm concerned about the current situation surrounding GM. Although a trade conflict, like ones happened in the past, may be avoided, there may be some impact (on Japan's car industry) because the car industry is symbolic in the U.S. economy," Okuda said.
He said Toyota "may need to adjust prices," hinting that it may increase the prices of its cars in the United States.
04-25-05 | 09:27 PM
#2
Lexus Test Driver
Joined: Mar 2004
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From: MD
That's, um, nice of them.
04-25-05 | 09:36 PM
#3
Lead Lap
Joined: Mar 2005
Posts: 578
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From: Hong Kong
good excuse to increase the price!!!! after the price adjustment, ppls will view toyota as luxerous sedan just like MB...and the demand will rasie because of a better image...good call
04-25-05 | 09:40 PM
#4
Lexus Test Driver
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From: MD
Originally Posted by redkingjoe
good excuse to increase the price!!!! after the price adjustment, ppls will view toyota as luxerous sedan just like MB...and the demand will rasie because of a better image...good call
04-26-05 | 06:13 AM
#5
Lexus Fanatic
Joined: Oct 2003
Posts: 91,715
Likes: 89
From: Virginia/D.C. suburbs
No...the image stuff sounds to me like a bunch of nonsense. What will really determine Toyota's future prices, besides the obvious effect of demand for its products, is the yen-dollar exchange rate, and lately the dollar hasn't been doing too well.
Last edited by mmarshall; 04-26-05 at 06:21 AM.
04-26-05 | 07:53 AM
#6
Pole Position
Joined: Jan 2004
Posts: 3,379
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From: St. Thomas, Ontario
I still don't totally understand how Toyota would help GM & Ford by raising prices? If one is hell bent on purchasing a Toyota (and they raise their prices say a few hundred bucks) they are still going to buy the Toyota & not switch over to GM or Ford. Makes no sense to me. 
Toyota should just buy GM lol.
They can pay cash right now for the whole company!
Toyota should just buy GM lol.
They can pay cash right now for the whole company!
04-26-05 | 08:18 AM
#7
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Joined: Oct 2003
Posts: 91,715
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From: Virginia/D.C. suburbs
Originally Posted by Lexusfreak
If one is hell bent on purchasing a Toyota (and they raise their prices say a few hundred bucks) they are still going to buy the Toyota & not switch over to GM or Ford. !
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04-26-05 | 08:36 AM
#8
Speaks French in Russian
Joined: Oct 2002
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Likes: 65
From: What is G?
Here is an article released today to offset this claim made yesterday.
Toyota won't help U.S. rivals
Auto manufacturer bucks politics, says it won't raise car prices to help North American competitors.
April 26, 2005: 7:16 AM EDT
TOKYO (Reuters) - Toyota Motor Corp. said Tuesday it will not raise its car prices to help U.S. rivals, breaking with its chairman's comments a day earlier that voluntary price increases and other steps were in order to help restore health to the U.S. auto industry.
"Our basic stance is that prices are something for the market to determine," a spokesman at Japan's top auto manufacturer said.
"We are not thinking about changing (vehicle) prices in order to help the U.S. auto industry."
Japanese brands collectively grabbed a record 30 percent share of the U.S. auto market last year, and some executives have become more sensitive about how their companies' success would play out at the political level.
At the annual motor show in Detroit earlier this year, Toyota President Fujio Cho and Honda Motor Co. Chief Executive Takeo Fukui said Japanese brands' expansion in the United States should not go unchecked, with Fukui volunteering that the combined share should be kept under 40 percent.
"I'm worried not only about GM but about the entire U.S. auto industry," Toyota Chairman Hiroshi Okuda told a news conference Monday as the head of Japan's biggest business lobby, the Japan Business Federation.
"Automobiles are the symbol of American industry, and if things go wrong there may be some kind of impact.
"As an automaker, we have to think about what countermeasures we can take," Okuda said, adding that technical alliances and voluntary price rises are possibilities.
Hit by falling U.S. sales and growing costs for employee health care, General Motors Corp. (Research) last week recorded a first-quarter loss of $1.1 billion, its worst result since the world's biggest auto manufacturer nearly went bust in 1992.
Its automotive operations lost almost $2 billion, most of that in North America as it offered thousands of dollars in sales incentives per vehicle to lure customers back. Even then, GM surrendered more sales to Asian brands, especially in the light trucks segment, its main cash cow.
Its rival Ford Motor Co. (Research) had a 38 percent drop in quarterly earnings and cut its North American production to reduce bloated inventories of unsold vehicles.
In contrast, Toyota and Honda, the world's most valuable auto manufacturers, are expected to report their best-ever earnings for the year that ended last month.
Japan's second-ranked Nissan Motor Co. reported its best operating profit for the fourth year in a row Monday.
Toyota said it was constantly studying what the appropriate price of its cars should be based on the competitive environment, costs and profits, but that it had no decision now on any changes to its prices in North America.
http://money.cnn.com/2005/04/26/Auto...reut/index.htm
Started new thread here
Toyota won't help U.S. rivals
Auto manufacturer bucks politics, says it won't raise car prices to help North American competitors.
April 26, 2005: 7:16 AM EDT
TOKYO (Reuters) - Toyota Motor Corp. said Tuesday it will not raise its car prices to help U.S. rivals, breaking with its chairman's comments a day earlier that voluntary price increases and other steps were in order to help restore health to the U.S. auto industry.
"Our basic stance is that prices are something for the market to determine," a spokesman at Japan's top auto manufacturer said.
"We are not thinking about changing (vehicle) prices in order to help the U.S. auto industry."
Japanese brands collectively grabbed a record 30 percent share of the U.S. auto market last year, and some executives have become more sensitive about how their companies' success would play out at the political level.
At the annual motor show in Detroit earlier this year, Toyota President Fujio Cho and Honda Motor Co. Chief Executive Takeo Fukui said Japanese brands' expansion in the United States should not go unchecked, with Fukui volunteering that the combined share should be kept under 40 percent.
"I'm worried not only about GM but about the entire U.S. auto industry," Toyota Chairman Hiroshi Okuda told a news conference Monday as the head of Japan's biggest business lobby, the Japan Business Federation.
"Automobiles are the symbol of American industry, and if things go wrong there may be some kind of impact.
"As an automaker, we have to think about what countermeasures we can take," Okuda said, adding that technical alliances and voluntary price rises are possibilities.
Hit by falling U.S. sales and growing costs for employee health care, General Motors Corp. (Research) last week recorded a first-quarter loss of $1.1 billion, its worst result since the world's biggest auto manufacturer nearly went bust in 1992.
Its automotive operations lost almost $2 billion, most of that in North America as it offered thousands of dollars in sales incentives per vehicle to lure customers back. Even then, GM surrendered more sales to Asian brands, especially in the light trucks segment, its main cash cow.
Its rival Ford Motor Co. (Research) had a 38 percent drop in quarterly earnings and cut its North American production to reduce bloated inventories of unsold vehicles.
In contrast, Toyota and Honda, the world's most valuable auto manufacturers, are expected to report their best-ever earnings for the year that ended last month.
Japan's second-ranked Nissan Motor Co. reported its best operating profit for the fourth year in a row Monday.
Toyota said it was constantly studying what the appropriate price of its cars should be based on the competitive environment, costs and profits, but that it had no decision now on any changes to its prices in North America.
http://money.cnn.com/2005/04/26/Auto...reut/index.htm
Started new thread here
Last edited by magneto112; 04-26-05 at 08:42 AM.
04-26-05 | 08:45 AM
#9
Guest
Posts: n/a
Originally Posted by magneto112
Here is an article released today to offset this claim made yesterday.
Toyota won't help U.S. rivals
Auto manufacturer bucks politics, says it won't raise car prices to help North American competitors.
April 26, 2005: 7:16 AM EDT
TOKYO (Reuters) - Toyota Motor Corp. said Tuesday it will not raise its car prices to help U.S. rivals, breaking with its chairman's comments a day earlier that voluntary price increases and other steps were in order to help restore health to the U.S. auto industry.
"Our basic stance is that prices are something for the market to determine," a spokesman at Japan's top auto manufacturer said.
"We are not thinking about changing (vehicle) prices in order to help the U.S. auto industry."
Japanese brands collectively grabbed a record 30 percent share of the U.S. auto market last year, and some executives have become more sensitive about how their companies' success would play out at the political level.
At the annual motor show in Detroit earlier this year, Toyota President Fujio Cho and Honda Motor Co. Chief Executive Takeo Fukui said Japanese brands' expansion in the United States should not go unchecked, with Fukui volunteering that the combined share should be kept under 40 percent.
"I'm worried not only about GM but about the entire U.S. auto industry," Toyota Chairman Hiroshi Okuda told a news conference Monday as the head of Japan's biggest business lobby, the Japan Business Federation.
"Automobiles are the symbol of American industry, and if things go wrong there may be some kind of impact.
"As an automaker, we have to think about what countermeasures we can take," Okuda said, adding that technical alliances and voluntary price rises are possibilities.
Hit by falling U.S. sales and growing costs for employee health care, General Motors Corp. (Research) last week recorded a first-quarter loss of $1.1 billion, its worst result since the world's biggest auto manufacturer nearly went bust in 1992.
Its automotive operations lost almost $2 billion, most of that in North America as it offered thousands of dollars in sales incentives per vehicle to lure customers back. Even then, GM surrendered more sales to Asian brands, especially in the light trucks segment, its main cash cow.
Its rival Ford Motor Co. (Research) had a 38 percent drop in quarterly earnings and cut its North American production to reduce bloated inventories of unsold vehicles.
In contrast, Toyota and Honda, the world's most valuable auto manufacturers, are expected to report their best-ever earnings for the year that ended last month.
Japan's second-ranked Nissan Motor Co. reported its best operating profit for the fourth year in a row Monday.
Toyota said it was constantly studying what the appropriate price of its cars should be based on the competitive environment, costs and profits, but that it had no decision now on any changes to its prices in North America.
http://money.cnn.com/2005/04/26/Auto...reut/index.htm
Started new thread here
Toyota won't help U.S. rivals
Auto manufacturer bucks politics, says it won't raise car prices to help North American competitors.
April 26, 2005: 7:16 AM EDT
TOKYO (Reuters) - Toyota Motor Corp. said Tuesday it will not raise its car prices to help U.S. rivals, breaking with its chairman's comments a day earlier that voluntary price increases and other steps were in order to help restore health to the U.S. auto industry.
"Our basic stance is that prices are something for the market to determine," a spokesman at Japan's top auto manufacturer said.
"We are not thinking about changing (vehicle) prices in order to help the U.S. auto industry."
Japanese brands collectively grabbed a record 30 percent share of the U.S. auto market last year, and some executives have become more sensitive about how their companies' success would play out at the political level.
At the annual motor show in Detroit earlier this year, Toyota President Fujio Cho and Honda Motor Co. Chief Executive Takeo Fukui said Japanese brands' expansion in the United States should not go unchecked, with Fukui volunteering that the combined share should be kept under 40 percent.
"I'm worried not only about GM but about the entire U.S. auto industry," Toyota Chairman Hiroshi Okuda told a news conference Monday as the head of Japan's biggest business lobby, the Japan Business Federation.
"Automobiles are the symbol of American industry, and if things go wrong there may be some kind of impact.
"As an automaker, we have to think about what countermeasures we can take," Okuda said, adding that technical alliances and voluntary price rises are possibilities.
Hit by falling U.S. sales and growing costs for employee health care, General Motors Corp. (Research) last week recorded a first-quarter loss of $1.1 billion, its worst result since the world's biggest auto manufacturer nearly went bust in 1992.
Its automotive operations lost almost $2 billion, most of that in North America as it offered thousands of dollars in sales incentives per vehicle to lure customers back. Even then, GM surrendered more sales to Asian brands, especially in the light trucks segment, its main cash cow.
Its rival Ford Motor Co. (Research) had a 38 percent drop in quarterly earnings and cut its North American production to reduce bloated inventories of unsold vehicles.
In contrast, Toyota and Honda, the world's most valuable auto manufacturers, are expected to report their best-ever earnings for the year that ended last month.
Japan's second-ranked Nissan Motor Co. reported its best operating profit for the fourth year in a row Monday.
Toyota said it was constantly studying what the appropriate price of its cars should be based on the competitive environment, costs and profits, but that it had no decision now on any changes to its prices in North America.
http://money.cnn.com/2005/04/26/Auto...reut/index.htm
Started new thread here
Thanks, I'll close this and re-direct to the new news. Go here eveyrone
https://www.clublexus.com/forums/sho...d.php?t=160424
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