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Toyota needs GM to be saved...

Discussion in 'Gen 2 Prius Main Forum' started by klodhopper, Dec 15, 2008.

  1. klodhopper

    klodhopper New Member

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    A GM failure would cause production problems, crush already weak demand and potentially open the door to low-cost competitors.


    NEW YORK (CNNMoney.com) -- Detroit's Big Three aren't the only automotive companies that want to see the government step in with some much needed financial help.
    Overseas automakers, most notably Toyota Motor, all endorse some form of federal aid to keep General Motors (GM, Fortune 500), Chrysler LLC and possibly Ford Motor (F, Fortune 500) out of bankruptcy.
    The Senate killed an effort to get the automakers a stopgap loan last week and now the Bush administration has said it is looking at providing the automakers help from the $700 billion approved to bailout banks and Wall Street firms.
    "We support measures to help the industry," said Toyota Motor (TM) spokeswoman Mira Sleilati. "We just want a strong, competitive healthy industry."
    This may seem surprising at first, especially when you consider that much of the opposition to the auto bailout was from senators from Southern states home to auto plants operated by Asian auto companies, such as Alabama and South Carolina. But the Asian automakers insist they never lobbied against such help for the Big Three.




    Why Asian automakers want a federal bailout of U.S. industry - Dec. 15, 2008
     
    #1 klodhopper, Dec 15, 2008
  2. JimN

    JimN Let the games begin!

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    Toyota has cash. Let them put their money where their mouth is by having Toyota Motor Credit write a loan to GM. At the very least they would be reinvesting their American profits in America. Or they could just make an offer in bankruptcy court.
     
    #2 JimN, Dec 15, 2008
  3. donee

    donee New Member

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    Hi All,

    Toyota has investments in all sorts of Japanese car parts companies. I imagine they have money in Aisin, the transmission company. And I imagine Aisin makes transmissions for GM and Ford. There are probably other examples of such linkages too.
     
    #3 donee, Dec 15, 2008
  4. cwerdna

    cwerdna Senior Member

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    Besides the supplier relationships, I think all the Japanese automakers really don't want a backlash from the American public. If one or more of the Big 3 went under, I bet that in certain parts of the US, there'd be a lot of pissed of people laying the blame on foreign automakers, esp. the Japanese.

    The Japanese automakers have been right from a PR and political POV to not rub it in.
     
    #4 cwerdna, Dec 18, 2008
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