Toyota CEO comments on GM

Earlier Tuesday, it was reported that Hiroshi Okuda, chairman of Toyota Motor Corporation, said in Tokyo that the US government would probably step in to support General Motors if the world's No.1 car maker was forced into bankruptcy.

``GM is a US industry icon,'' Okuda said. ``The US government won't leave it if it tumbles into real difficulty,'' said Okuda. Toyota is expected to overtake GM as the world's biggest car maker this year or next.

``The company is in a tough condition,'' said Okuda, who was speaking as head of the Japan Business Federation.

Okuda said that GM's market share has been falling and that it had been so far unsuccessful in its attempts to sell a financial unit.

He also referred to a lack of appealing new models.

GM lost more than $4 billion in North America in the first nine months of 2005, reflecting its falling market share and the costs of a big restructuring.

The arrogance will catch up to him.

 

No he didn't speak to me first. :angry:
Seriously, something will be the catalyst for change, maybe these comments will provide just that. When the tide turns for Toyota, and it will, we'll see how smart he is then. After all it was GM and Ford's arrogance 25 years ago which started the mess they are in now. Did his comments come across as arrogant to anyone? Of course you will all defend him as some kind of visionary with the perfect business plan.

 

GM does have many great models on the road and a couple of great brands, Cadillac, Chevrolet, and GMC(truck). The brands that have been truly hurting over the last couple of years are Buick, Pontiac, and Saturn. There are many great stories at GM today, with quality, mpg and 'gotta have' cars and trucks. As I have said before that news is being drowned out by all of the bad news about GM's financial performance. The comments by the Toyota CEO were a calculated slam at GM, as GM is the biggest threat to Toyota's planned dominance. Unfortunately it will take until the 2nd qtr of this year before you hear about the 'great turnaround' at GM. Ford on the other hand has its hands full. The only real good news on the horizon has been the Ford Fusion.

http://www.autonews.com/apps/pbcs.dll/section?Category=TOC

 

What do you mean no great cars, no great hybrid cars I agree but no great cars? Loosen up the blinders for a change. Give me your definition of a great car? Does it have to have a Toyota logo on the front of it?

 

So Toyota has just stumbled into this competition to be # 1 in the world. Actually the original goal was by 2010, so no this was a clear goal of Toyota's. The groundwork is being laid to keep the spotlight off of GM's turnaround. Do you really think the head of Toyota or GM for that matter says anything to the press without it being completely planned and fully calculated. Yes the Japanese are known for thier spontanaeity and lack of planning.

 

They have already stumbled with their quality, it just take 4-5 years for perception to catch up with reality. Jay Leno was at a recent automotive event and joked about the Prius stalling because of its computer glitch and how common that was in hollywood. I know you will say he said it because he has ties to GM and he does have some ties, but for him to say it and have any kind of tractin tells you all you need to know about what is coming for Toyota. Now I am not stating any dire predictions for Toyota, because they are a very strong company. But NO company stays on a roll forever, and companies that expand as fast as they have over the last 10 years eventually hit a wall of some kind. It really is very well documented that their quality has slipped, only one of the top 10 quality plants in North America.

Also take a look at the new Camry. I give them credit for the hybrid, but other than that is that have any cutting edge look or technology? Even Toyota execs admitted at the recent unveiling that sometimes it is ok to be vanilla. Those were some of the same things GM execs were saying in the late 80's and early 90's about some of their 'new' models.