Being a global automaker means having to deal with the rising and falling tides of currency. The climate is particularly difficult in Japan, where the yen is valued at record levels compared to the American dollar. Since a giant chunk of Japanese automotive exports are shipped off to America, that means greatly diminished profits.
Toyota President Akio Toyoda caused something of an uproar in the automaker's home market of Japan when he suggested that "logically, it doesn't make sense to manufacture in Japan." Why? The surging value of the Yen, currently at a 15-year high, compared to the U.S. Dollar.
- Volvo shoots for self-drivers by 2021
- Jeep spends $1 billion on factories
- Find Parts & Accessories for your vehicle!
- Obama rolls out new EV plan
- Infiniti dealers ranked best, Tesla worst
- Compare Volvo XC90 and Lincoln MKX