Toyota Considers Helping Mitsubishi
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Toyota Considers Helping Mitsubishi
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I wouldn't be against Toyo throwing some help our way. They have a very good quality reputation which would really help remove some of the tarnish on Mitu's.
Originally Posted by Mitsubishi
Detroit Free Press
July 21, 2004
Detroit Free Press
July 21, 2004
Toyota plans to boost auto output by 11%; Company considers helping
Toyota Motor Corp., Asia's biggest automaker, said Tuesday it will produce 11 percent more cars, trucks and vans this year, helping it close the gap with Ford Motor Co. as the world's second-largest automaker.
Toyota expects production to rise to 6.74 million units, 230,000 more than a December forecast. Global vehicle sales, such as for its Camry cars and Sienna minivans, are expected to rise 9 percent to 6.61 million units, 280,000 more than the company's December forecast for 2004.
"In the first half, Toyota sold more vehicles in all regions, and we hope to expand our record sales this year," Toyota President Fujio Cho said during a news conference in Tokyo. "We have so much growth potential because there are factories that haven't even started operating," such as in Texas and in China.
Separately, a Toyota executive acknowledged Tuesday that Japan's top automaker is studying whether to help scandal-plagued Mitsubishi Motors Corp. by taking on some of its workers and suppliers at a plant the troubled rival is closing to cut costs.
Mitsubishi has been struggling to carry out a revival plan, including closing the Okazaki car assembly plant, which employs 1,600 people. Mitsubishi is talking with its union to close the plant, near Toyota's headquarters in central Japan, next year.
Mitsubishi has suffered plunging sales after admitting it continued to hide auto defects even after a similar scandal four years ago, when it promised to stop the cover-ups that had been going on for decades at the Tokyo automaker.
Toyota Executive Vice President Ryuji Araki said Tuesday that he received a request last week from Mitsubishi to hire some Okazaki workers and take on suppliers. "We are now studying things to come up with an answer," he told reporters at a Tokyo hotel, adding that details were being worked out.
Mitsubishi has said it is sending some workers to other Mitsubishi plants, and it is not clear how many might go to Toyota.
Toyota, whose cars have been ranked more highly than those from U.S.-based and European carmakers in quality surveys by J.D. Power & Associates, has been expanding market share and production while Ford has been reporting declines. Cho set Toyota a target of grabbing 15 percent of global automotive sales within a decade, from about 12 percent now.
Toyota sold 6.49 million vehicles in 2003, excluding sales by joint ventures in China and Indonesia. Ford sold 6.72 million units in 2003 and hasn't provided a forecast for its 2004 sales and production.
Toyota, which is likely to report its fifth consecutive annual record net income in the year ending March 31, 2005, is releasing new minivan, sport-utility vehicle and compact car models in the United States and Asia to spur sales. The company is also expanding output in China and Europe.
On the Tokyo Stock Exchange, Toyota's shares fell 1.2 percent, trimming this year's gain to 18 percent.
"Toyota has a thorough lineup of models and a good balance of exposure in all the major markets," said Atsushi Osa, who helps manage the equivalent of $47 billion at Sumitomo Mitsui Asset Management Co. in Tokyo. "No other automaker in the world is like Toyota" with its diverse market base.
The automaker said sales outside Japan will rise 11 percent this year to 4.85 million units. About 2 million units of those sales will be in the United States, the world's biggest automotive market, said executive vice president Yoshio Ishizaka. Exports by Toyota of cars made in Japan will rise 8 percent to 1.98 million units.
Among the best-sellers in the United States is the Prius gasoline-electric car. Toyota will make 130,000 Prius hybrid cars a year at the Tsutsumi factory in central Japan, Cho said. Toyota now produces about 10,000 units a month, from 7,500 units before.
"I have received letters requesting for more Priuses," Cho said. "Those Prius cars are being shipped to the U.S. and are on the way, which will help the shortage." Cho said the company has no plans to produce hybrids in the United States for now, as there are some auto parts that are made only in Japan.
Toyota Motor Corp., Asia's biggest automaker, said Tuesday it will produce 11 percent more cars, trucks and vans this year, helping it close the gap with Ford Motor Co. as the world's second-largest automaker.
Toyota expects production to rise to 6.74 million units, 230,000 more than a December forecast. Global vehicle sales, such as for its Camry cars and Sienna minivans, are expected to rise 9 percent to 6.61 million units, 280,000 more than the company's December forecast for 2004.
"In the first half, Toyota sold more vehicles in all regions, and we hope to expand our record sales this year," Toyota President Fujio Cho said during a news conference in Tokyo. "We have so much growth potential because there are factories that haven't even started operating," such as in Texas and in China.
Separately, a Toyota executive acknowledged Tuesday that Japan's top automaker is studying whether to help scandal-plagued Mitsubishi Motors Corp. by taking on some of its workers and suppliers at a plant the troubled rival is closing to cut costs.
Mitsubishi has been struggling to carry out a revival plan, including closing the Okazaki car assembly plant, which employs 1,600 people. Mitsubishi is talking with its union to close the plant, near Toyota's headquarters in central Japan, next year.
Mitsubishi has suffered plunging sales after admitting it continued to hide auto defects even after a similar scandal four years ago, when it promised to stop the cover-ups that had been going on for decades at the Tokyo automaker.
Toyota Executive Vice President Ryuji Araki said Tuesday that he received a request last week from Mitsubishi to hire some Okazaki workers and take on suppliers. "We are now studying things to come up with an answer," he told reporters at a Tokyo hotel, adding that details were being worked out.
Mitsubishi has said it is sending some workers to other Mitsubishi plants, and it is not clear how many might go to Toyota.
Toyota, whose cars have been ranked more highly than those from U.S.-based and European carmakers in quality surveys by J.D. Power & Associates, has been expanding market share and production while Ford has been reporting declines. Cho set Toyota a target of grabbing 15 percent of global automotive sales within a decade, from about 12 percent now.
Toyota sold 6.49 million vehicles in 2003, excluding sales by joint ventures in China and Indonesia. Ford sold 6.72 million units in 2003 and hasn't provided a forecast for its 2004 sales and production.
Toyota, which is likely to report its fifth consecutive annual record net income in the year ending March 31, 2005, is releasing new minivan, sport-utility vehicle and compact car models in the United States and Asia to spur sales. The company is also expanding output in China and Europe.
On the Tokyo Stock Exchange, Toyota's shares fell 1.2 percent, trimming this year's gain to 18 percent.
"Toyota has a thorough lineup of models and a good balance of exposure in all the major markets," said Atsushi Osa, who helps manage the equivalent of $47 billion at Sumitomo Mitsui Asset Management Co. in Tokyo. "No other automaker in the world is like Toyota" with its diverse market base.
The automaker said sales outside Japan will rise 11 percent this year to 4.85 million units. About 2 million units of those sales will be in the United States, the world's biggest automotive market, said executive vice president Yoshio Ishizaka. Exports by Toyota of cars made in Japan will rise 8 percent to 1.98 million units.
Among the best-sellers in the United States is the Prius gasoline-electric car. Toyota will make 130,000 Prius hybrid cars a year at the Tsutsumi factory in central Japan, Cho said. Toyota now produces about 10,000 units a month, from 7,500 units before.
"I have received letters requesting for more Priuses," Cho said. "Those Prius cars are being shipped to the U.S. and are on the way, which will help the shortage." Cho said the company has no plans to produce hybrids in the United States for now, as there are some auto parts that are made only in Japan.
I wouldn't be against Toyo throwing some help our way. They have a very good quality reputation which would really help remove some of the tarnish on Mitu's.
yeh, next thing you know, mitsubishi's gonna start making camry like Evo... or maybe supra like evo.
Toyota is the biggest automaker in japan. Damn it if they'll gonna have some german american take over their company. lol.
Toyota is the biggest automaker in japan. Damn it if they'll gonna have some german american take over their company. lol.
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From: Midwest
When Mitsu first started falling out, I actually thought about writing Toyota and asking them to help out and possibly buy some of the product line or all of mitsu.. 
I know this sounds rediculous but I think the match would be perfect and really want it.
Toyota takes over Mitsu, keeps it's sportier cars, without the bad brand rep and service. It would fill in the spot that toyota is missing too, for sportiness. If they feel the market is already crowded for that segment, why just not take one of the cars already in it
This doesn't really seem like a step toward that but if Toyota is involved with mitsu in any way and mitsu can still make the cars they're known for , I think it is a good thing.
Maybe I should still email them..??
I know this sounds rediculous but I think the match would be perfect and really want it. Toyota takes over Mitsu, keeps it's sportier cars, without the bad brand rep and service. It would fill in the spot that toyota is missing too, for sportiness. If they feel the market is already crowded for that segment, why just not take one of the cars already in it
This doesn't really seem like a step toward that but if Toyota is involved with mitsu in any way and mitsu can still make the cars they're known for , I think it is a good thing.
Maybe I should still email them..??
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From: Wichita, Kansas
Originally Posted by evoate
Sounds like they're going to help the workers, not really the company.
if their labor union is very powerful, just shutting down the a factory won't save Mitsubishi all that much money because those people may still get pensions, benefits, severance or even continued salary.
however, if those workers are now employed by someone else, Mitsubishi is free and clear of their costs.
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From: Boston
I agree with bear on his point. If toyota took over mitsu and injected some of toyota's great build quality and service i think mistu would rebound greatly. Its not very realistic. But any help toyota is willing to give to mitsu, is a good thing in my eyes.
But an Evo-Supra hybrid would be kinda funky. Two totally different cars merged into one. crazy.
Its not very realistic. But any help toyota is willing to give to mitsu, is a good thing in my eyes.But an Evo-Supra hybrid would be kinda funky. Two totally different cars merged into one. crazy.
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From: Midwest
Originally Posted by ColinL
dude that's totally irrelevant. that is NOT the type of help they are giving and you're just helping spread false rumors.
I didn't say that it was the type of help they were giving. In fact I clearly said that it wasn't a step toward that. I was just expressing something I would like to see happen, if people can turn that into a rumor then it's by thier ignorance, not mine.
Quote: "Mitsubishi has suffered plunging sales after admitting it continued to hide auto defects even after a similar scandal four years ago, when it promised to stop the cover-ups that had been going on for decades at the Tokyo automaker." :Quote
You mean like a ****ty clutch?...
You mean like a ****ty clutch?...
One way Toyota could help Mitsu is by building their transmissions! GOT I hate mine. 2nd gear grind...5th gear grind...EXTREAMLY notchy shifter....makes me want my 5th Gen Prelude trans back! Then again I shouldn't crab too much..I'm the one that doesn't want to drop my car off to Mitsu to have their monkeys work on it and say nothing is wrong