Toyota asks for Bailout

[miketheidiot]

Originally posted by: Thump553
One extremely important fact omitted by the original poster-Toyota is seeking loans from the JAPANESE government. No "bailout" from the USA is sought.

So long as whatever done is done in accordance with fair trade treaties, I could care less. I don't want the US car companies competing with companies subsidized by foreign governments where our companies are not allowed to compete on an equal footing in their country (as has been the case for years).

if loans aren't bailouts, then the american auto makers haven't been bailed out either.

 

[miketheidiot]

Originally posted by: Ktulu

Originally posted by: jman19
Massive threadfail by MIKEMIKE.

Pretty much, he should no better, Anandtech will defend Toyota till the death.

toyota makes what are probably the shittiest cars of the big 3 japanese companies.

basically running on goodwill from the 90's at this point.

 

[soccerballtux]

Originally posted by: MIKEMIKE

The Toyota City, Japan-based company has 2.34 trillion yen in loans and bonds maturing this year, according to data compiled by Bloomberg. The company had 2.3 trillion yen in cash reserves as of Dec. 31.

http://www.bloomberg.com/apps/...z4LvsoAwQJU&refer=home

screw toyota, no one buys their cars, let them die.

Toyota would not need a bailout if GM had gone under. They would have gotten a hefty share of the sales that made up GM, Chevy, Buick, Saturn, etc.

This is why companies failing is good: re-allocates market share to the best run companies. We all know Toyota makes better cars than GM; the evidence is in original Toyota engines running to 300-450K miles. Good luck getting 200K out of a GM car.

Besides; OP is troll. Japan is asking for loans because it would have 2/3rds the interest rate that the loans from the private sector would have. This is not Toyota being "bailed out"; far from it. GM could not get any more loans for the life of them; their debt was greater than their assets. Toyota does not have those loans and would, as the article points out, has no trouble getting private loans.

 

[GroundedSailor]

Originally posted by: Skoorb

Originally posted by: GroundedSailor

Originally posted by: Skoorb
The "let them die" crowd was more arguing it based on the fact that even when times are good the Big 3 are losing market share in spades. The argument is inapplicable to Toyota.

Which is why US Gov statistics for new passenger car sales, show, for e.g., in 2006
Domestics sold: 5.3 million cars
Imports sold: 2.3 million


Which is also why in 2006 sales by manufacturer were:

Chrysler: 2.1 million
Ford: 2.8 million
GM: 4.1 million
Toyota: 2.5 million
Honda: 1.5 million
Nissan: 1.0 million

Sure the argument does not apply to Toyota because everyone is buying their cars. Lets just overlook that 45% of the vehicles sold in the US were made by the domestic 3 because their number can safely be ignored.

You guys simply argue on perception. It helps to look at reality once in a while.

You argue based on meaningless numbers. I am talking trends. The big three are hemorrhaging market share. This is not in dispute, but feel free to get the numbers that prove my assertion. They have not been profitable enterprises for years, this economy is merely helping remove the smokescreen.

Sorry, my bad. I read your post too quickly. Yes the trend is downward, but that is the case with nearly all manufacturers - and I'm talking globally. Toyota has scaled back Prius production, almost shut down their truck division and is on a slowdown in production. It's not just Toyota, it's all of them. People are just not buying cars like they used to.

What I find incorrect is when people claim that no one is buying domestics or 'let them die' simply because they don't like domestics or are fans of Japanese/German/whatever. If that were the case why would domestics clearly outstrip the imports in total numbers? Someone has to be buying them.

Yes Toyota has been gaining market share, so has Honda, so has Hyundai, Subaru etc etc. That is partly due to increased competition, partly due to the residual perception that anything domestic is automatically bad. Heck 10 years Hyundai was no competition, today it's up there and probably one of the fastest growing car companies in terms of sales. And domestics have consistently been getting top ratings on JP Powers. FYI In 2007 Toyota overtook Ford to claim the honor of 'Most number of cars recalled' by any manufacturer globally.

 

[desy]

My 94 Corsica has 225K miles on it, I guess I was lucky

 

[KK]

good, I think the government should give more bail outs. Hopefully the country will go bankrupt, atleast I'll have my obama coins, they should be worth alot in the hood.

 

[StageLeft]

Originally posted by: JeffreyLebowski

Originally posted by: ericlp
Wish I could afford a toyota I'd buy one!

The only car worth buying IMO.

Haha, you haven't actually driven one have you?

The Toyota quality is a myth. Our 06 Sienna proves that.
As do the 95-00 Tacoma's that Toyota has been silently buying back at upto 150% book value because they didn't properly rust prrof the frames and trucks were literally breaking in half.

Imagine if Ford or GM tried to pull that off. You people would be screaming to have the Exec's heads put up on pikes.

I don't think MIKEMIKE was trying to say they were asking for money from the US, it's the fact that they are asking for money at all. If they truely have been doing so well why can't their profits from previous years hold them over?
Sounds like a bad business model to me if you don't save for a rainy day.

A coworker made off like a bandit when her tacoma was recently traded in for that, I could not believe how much they gave her.

You make a good point about their business; they are a profitable company otherwise, I don't know why they would deserve money over other hurting industries in Japan.

if loans aren't bailouts, then the american auto makers haven't been bailed out either.

They are bailouts when nobody really expects them to be paid back, like lending a deadbeat friend who does drugs $200 for his "rent".

For the record, if my Maxima died tomorrow I would have a slightly-used Ford Fusion on my short-list. They are so cheap! It would potentially be my first domestic, but with only 120k on the max, I don't expect it to die quite yet

 

[Inspector Jihad]

Originally posted by: Ktulu

Originally posted by: jman19
Massive threadfail by MIKEMIKE.

Pretty much, he should no better, Anandtech will defend Toyota till the death.

more so than defending toyota, they call out a baseless and bullshit thread.

 

[Ktulu]

Originally posted by: Inspector Jihad

Originally posted by: Ktulu

Originally posted by: jman19
Massive threadfail by MIKEMIKE.

Pretty much, he should no better, Anandtech will defend Toyota till the death.

more so than defending toyota, they call out a baseless and bullshit thread.

I don't see how it's baseless or bullshit. Toyota IS asking for a loan from the Japanese government.

 

[bctbct]

Thats too bad, their State subsidies must have dried up.

I hate to repeat myself but Toyota is going to be hurting, they missed the large vehicle market and their gas hogs will be bad performers for years to come.

Toyota drivers have a little spiral notebook in the glove box so they can calculate their gas milage with every fill-up.