For years Detroit automakers carped about the low value of the Japanese yen versus the U.S. dollar, but these days, the opposite is true. The yen has rocketed up in value versus the dollar, and Japan's automakers are taking significant measures to mitigate its bottom-line-killing effects. In October Toyota demanded lower prices from its Japanese supply base, and now the Camry will be built in the U.S. and shipped overseas.
Toyota Motor Corp. is apparently looking into adding a new model to the assembly line at its Georgetown, Kentucky facility. That's the plant we've recently covered regarding union issues. Georgetown is currently building nothing but Camrys right now, so adding a new crossover to the mix "would help ease the plant's dependence on Camry sedans." Sure, like five million Camrys indicates they need a change. They have already added Camry Hybrid production, but it's never a bad idea to diversify to al
Two former hourly Toyota employees are denying that they leaked a potentially embarrassing memo pertaining to wages at Toyota's US plants. The document, which came from Seiichi Sudo, president and CEO of Toyota Motor Engineering & Manufacturing North America Inc, states that wages are growing faster than Toyota's US profits.
Call it a case of "He said, he said." A Toyota spokesman says the Japanese automaker doesn't see an interest in unionizing among workers at its production facility in Kentucky, while UAW spokespeople say workers are showing more interest than ever in forming a union. So which is it? Could be a bit of both. UAW membership has been dropping nationwide, but the organization still has an undeniably powerful place in the industry. With more foreign automakers building plants in the States, particular
While Toyota expects to see overall growth in the US market next year, the company is cutting production estimates for its new San Antonio full-size truck plant. Originally expected to start at its full capacity of 200,000 units per year, the automaker now expects to build 150,000 Tundra pickups there in 2007. To blame is a shrinking full-size truck market, led by high fuel prices and a decrease in housing starts (we've seen data that strongly correlates the housing market to pickup truck sales)