- Apr 30, 2001
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Toyota still considering U.S. price hikes
OSAKA (AP) ? The chairman of Toyota Motor on Wednesday repeated his statement that the automaker is likely to raise its vehicle prices in the United States to support struggling U.S. carmakers, Kyodo News reported.
If the U.S. auto industry collapses, it may adversely affect Japan-U.S. relations by stirring up national sentiment, Hiroshi Okuda said at a press conference. Okuda was speaking as chairman of the Japan Business Federation, the nation's most powerful business lobby known as Nippon Keidanren.
Two weeks ago, Okuda said the biggest Japanese automaker may raise its prices in the U.S. market to make it easier for American automakers to beef up their earnings.
Okuda reiterated his view following General Motors' announcement Tuesday that it will cut 25,000 jobs to reduce costs.
Honda Motor has ruled out price hikes to help ailing U.S. automakers, saying such increases could be considered price manipulation under U.S. antitrust law.
Okuda, however, said automakers can raise prices when they introduce new versions.
http://www.usatoday.com/money/autos/2005-06-08-toyota-prices_x.htm
"We need to give some time for American companies to take a breath," Okuda was quoted as saying by the Nihon Keizai Shimbun, Japan's biggest business daily.
"I'm concerned about the current situation surrounding GM. Although a trade conflict, like ones (that) happened in the past, may be avoided, there may be some impact (on Japan's car industry) because the car industry is symbolic in the U.S. economy," Okuda was quoted as saying by the Japanese daily Asahi Shimbun...
Okuda's comments appeared to be an attempt to stave off any possible backlash. His remarks also suggests that he sees the American automakers as needing help to compete with Japan's car companies.
http://www.theautochannel.com/news/2005/04/26/049198.html
Wow... you have to respect for Mr. Okuda saying this publicly. I can't recall the last time I heard an American company making a similar statement in support of a foreign industry. :thumbsup: