Breaking News: TOYOTA BUYS GM'S STAKE IN SUBARU! (merged threads)
#1
Speaks French in Russian
![](https://www.clublexus.com/forums/images/ranks/rank-smod2.gif)
Thread Starter
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
GM TO END LINK WITH SUBARU
http://www.marketwatch.com/news/yhoo...72E93065C67%7D
oh boy. Its the takeover!!!!
By mutual agreement, GM also intends to end its alliance with Fuji Heavy, bringing to an end their Saab crossover vehicle development program. Instead, GM will work with its other strategic partners in Asia.
Both companies "came to the conclusion that there were not enough collaborative projects to sustain the alliance and that each of our interests could be better served through a different approach," said Troy Clarke, GM's group vice president and chief of its Asia-Pacific operations.
GM, in the midst of a wrenching restructuring program, said cash proceeds received and any potential gain on the Fuji Heavy sale will be recorded in the fourth quarter.
Both companies "came to the conclusion that there were not enough collaborative projects to sustain the alliance and that each of our interests could be better served through a different approach," said Troy Clarke, GM's group vice president and chief of its Asia-Pacific operations.
GM, in the midst of a wrenching restructuring program, said cash proceeds received and any potential gain on the Fuji Heavy sale will be recorded in the fourth quarter.
Toyota Buys Stake in Fuji Heavy From GM
Wednesday October 5, 6:50 am ET
By Yuri Kageyama, AP Business Writer
Toyota Buys Stake in Maker of Subaru, Fuji Heavy Industries, From General Motors
TOKYO (AP) -- Toyota has agreed to buy an 8.7 percent stake in Japanese automaker Fuji Heavy Industries from General Motors Corp., officials from both companies said Wednesday, in a deal that will make Toyota the top shareholder in the company that makes Subaru cars.
GM and Fuji agreed to dissolve their alliance and capital relationship, said Toyota executive vice president Mitsuo Kinoshi ta and Fuji Heavy President Kyoji Takenaka at a joint news conference. GM will sell its remaining 11.4 percent stake in Fuji in the market.
Toyota Motor Corp. and Fuji are setting up a steering committee to try to reach an agreement on future collaboration as soon as possible, the companies said.
Toyota has been on a roll lately, boosting sales in North America, Europe and other parts of Asia and recording booming profits. GM, based in Detroit, has been in trouble, losing $1.1 billion in the first quarter.
GM and Toyota have a long-standing partnership to share environmental technology, and they run a car assembly plant in California together, although the ties do not involve holding stakes in each other.
Toyota Chairman Hiroshi Okuda has expressed worries lately about a possible political backlash from U.S. automakers because of Toyota's bright results at a time when GM and Ford are faltering.
He even suggested Toyota raise the price of car models in the United States. Toyota raised prices soon after, but denied the move was to placate U.S. automakers.
Toyota, based in central Japan's Toyota city, holds stakes in two other Japanese automakers, Daihatsu Motor Co., which makes small cars, and Hino Motors, which makes trucks.
Wednesday October 5, 6:50 am ET
By Yuri Kageyama, AP Business Writer
Toyota Buys Stake in Maker of Subaru, Fuji Heavy Industries, From General Motors
TOKYO (AP) -- Toyota has agreed to buy an 8.7 percent stake in Japanese automaker Fuji Heavy Industries from General Motors Corp., officials from both companies said Wednesday, in a deal that will make Toyota the top shareholder in the company that makes Subaru cars.
GM and Fuji agreed to dissolve their alliance and capital relationship, said Toyota executive vice president Mitsuo Kinoshi ta and Fuji Heavy President Kyoji Takenaka at a joint news conference. GM will sell its remaining 11.4 percent stake in Fuji in the market.
Toyota Motor Corp. and Fuji are setting up a steering committee to try to reach an agreement on future collaboration as soon as possible, the companies said.
Toyota has been on a roll lately, boosting sales in North America, Europe and other parts of Asia and recording booming profits. GM, based in Detroit, has been in trouble, losing $1.1 billion in the first quarter.
GM and Toyota have a long-standing partnership to share environmental technology, and they run a car assembly plant in California together, although the ties do not involve holding stakes in each other.
Toyota Chairman Hiroshi Okuda has expressed worries lately about a possible political backlash from U.S. automakers because of Toyota's bright results at a time when GM and Ford are faltering.
He even suggested Toyota raise the price of car models in the United States. Toyota raised prices soon after, but denied the move was to placate U.S. automakers.
Toyota, based in central Japan's Toyota city, holds stakes in two other Japanese automakers, Daihatsu Motor Co., which makes small cars, and Hino Motors, which makes trucks.
http://www.marketwatch.com/news/yhoo...72E93065C67%7D
oh boy. Its the takeover!!!!
![Thumb Up](https://www.clublexus.com/forums/images/smilies/thumbsup.gif)
Last edited by magneto112; 10-05-05 at 06:46 AM.
#2
Speaks French in Russian
![](https://www.clublexus.com/forums/images/ranks/rank-smod2.gif)
Thread Starter
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
GM Selling Off Subaru Stake; Saab 9-6X Dumped
General Motors said this morning that it will sell off its 20-percent stake in Fuji Heavy Industries, the parent company of Subaru. GM took a 20-percent stake in Fuji in 2000 and since then, has tried to leverage the resources of the company to help along some of its own car brands, particularly Saab. (Saab's 9-2X is a rebadged version of the Subaru WRX.) But other vehicle collaborations never made it off the drawing boards, and as a result, GM will sell off its stake in pieces. Toyota will take 8.7 percent of the existing GM shares, according to a release, with the remainder to be sold off to other investors. GM will net about $315 million for the sale to Toyota . GM adds that with the dissolution of the joint venture, it will focus on high-growth markets in Asia, presumably China . While the existing Saab 9-2X will continue for an undetermined time, GM says that the future crossover planned for Saab based on the Subaru B9 Tribeca has been cancelled. GM is expected instead to spin off a new Saab crossover from a planned Opel model derived from the concept Antara GTC.
http://www.thecarconnection.com/Auto...173.A9375.html
General Motors said this morning that it will sell off its 20-percent stake in Fuji Heavy Industries, the parent company of Subaru. GM took a 20-percent stake in Fuji in 2000 and since then, has tried to leverage the resources of the company to help along some of its own car brands, particularly Saab. (Saab's 9-2X is a rebadged version of the Subaru WRX.) But other vehicle collaborations never made it off the drawing boards, and as a result, GM will sell off its stake in pieces. Toyota will take 8.7 percent of the existing GM shares, according to a release, with the remainder to be sold off to other investors. GM will net about $315 million for the sale to Toyota . GM adds that with the dissolution of the joint venture, it will focus on high-growth markets in Asia, presumably China . While the existing Saab 9-2X will continue for an undetermined time, GM says that the future crossover planned for Saab based on the Subaru B9 Tribeca has been cancelled. GM is expected instead to spin off a new Saab crossover from a planned Opel model derived from the concept Antara GTC.
http://www.thecarconnection.com/Auto...173.A9375.html
#4
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
damn magneto, you beat me to it!
Im so happy that Fuji is free from GM. GM never put a damn cent into Subaru yet took so much of their key technology that its ridiculous. Most of the AWD Saab's have subaru parts in em.
Maybe now we'l get some true performance Subies in the states now.
Im so happy that Fuji is free from GM. GM never put a damn cent into Subaru yet took so much of their key technology that its ridiculous. Most of the AWD Saab's have subaru parts in em.
Maybe now we'l get some true performance Subies in the states now.
#5
Speaks French in Russian
![](https://www.clublexus.com/forums/images/ranks/rank-smod2.gif)
Thread Starter
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
Originally Posted by PureDrifter
damn magneto, you beat me to it!
.
.
lol...my bad...you can take the credit, I dont care.
![Thumb Up](https://www.clublexus.com/forums/images/smilies/thumbsup.gif)
Last edited by magneto112; 10-05-05 at 07:13 AM.
Trending Topics
#8
Guest
Posts: n/a
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
This is stuck, this is very big news. If GM can make all that crap with a 8.7% share, Toyota and Suburu can do some wonderul things now.
Wow, and Toyota could learn tons on their AWD systems, especially since they are offering it more.
This is a GREAT collaboration. I think MMarshall asked for it in the "what merger do u wish for" thread I started a couple months ago.
GREAT NEWS. Thanks Magneto
Wow, and Toyota could learn tons on their AWD systems, especially since they are offering it more.
This is a GREAT collaboration. I think MMarshall asked for it in the "what merger do u wish for" thread I started a couple months ago.
GREAT NEWS. Thanks Magneto
#9
Lexus Fanatic
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
Well.....here's an unexpected one.
It will be interesting to see what this might do to the upcoming Saab 9-6X, which was planned to be Subaru Tribeca-based....and, of course, the existing Saab 9-2X, which is Subaru Impreza-based. GM, of course, has a stake in both companies.....and owns Saab outright.
http://money.cnn.com/2005/10/05/news...m.dj/index.htm
I have a very high opinion of Subaru products in general and I'm glad to see them break free from THE General. I think they can make it on their own....without GM's billions being pumped into them.
It will be interesting to see what this might do to the upcoming Saab 9-6X, which was planned to be Subaru Tribeca-based....and, of course, the existing Saab 9-2X, which is Subaru Impreza-based. GM, of course, has a stake in both companies.....and owns Saab outright.
http://money.cnn.com/2005/10/05/news...m.dj/index.htm
I have a very high opinion of Subaru products in general and I'm glad to see them break free from THE General. I think they can make it on their own....without GM's billions being pumped into them.
#10
Lexus Connoisseur
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
Whoa! Big move Toyota. Talk about a takeover. Perhaps we can see the revival of the All-Trac series of Toyotas. We can only hope and wish.
![Woohoo](https://www.clublexus.com/forums/images/smilies/woohoo.gif)
#11
Lexus Connoisseur
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
Originally Posted by mmarshall
I have a very high opinion of Subaru products in general and I'm glad to see them break free from THE General. I think they can make it on their own....without GM's billions being pumped into them.
![Roll Eyes (Sarcastic)](https://www.clublexus.com/forums/images/smilies/rolleyes.gif)
![Big Grin](https://www.clublexus.com/forums/images/smilies/biggrin.gif)
#12
Lexus Fanatic
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
Originally Posted by flipside909
I'm with you. And now with Toyota's powerful presence, the Subaru lineage will just grow. Lets get rid of that B9 Tribeca first.
![Big Grin](https://www.clublexus.com/forums/images/smilies/biggrin.gif)
![Roll Eyes (Sarcastic)](https://www.clublexus.com/forums/images/smilies/rolleyes.gif)
![Big Grin](https://www.clublexus.com/forums/images/smilies/biggrin.gif)
#13
Lexus Test Driver
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
Originally Posted by mmarshall
Subaru had plans to put the Tribeca's grille on all of their North American products. This year ( 2006) it was expanded to the Impreza, WRX, and STI. Next year the Legacy and Outback were planned to get it. Now I guess we'll find out if this was Subaru's idea or parent GM's.
#15
Lexus Test Driver
Join Date: Feb 2004
Location: Texas
Posts: 954
Likes: 0
Received 0 Likes
on
0 Posts