Toyota helping Mitsu workers

1337Rolla · Jul 22, 2004

Toyota helping Mitsu workers

Originally Posted by Mitsubishi
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.

Looks like they might be giving em some jobs! So, toward future hopes,

Supras Now!

RexPelagi · Jul 22, 2004

Well Mitsubishi does need all the help they can get, I dont want to see someone who still makes japanese performance cars to go away. Hopefully they can somehow get the quality back up too. Stupid F***Ing chrysler.

jdmmarkii · Jul 23, 2004

thats going to be hard. my friend came back from japan and mitsubishi is already falling apart. they hide to much and consumers dont really trust them anymore.

w1ngzer0 · Jul 23, 2004

i never trusted them from 97' and on. Damn mitsu whores :x

TheDruid · Jul 23, 2004

when they said that "mitsu hides stuff"... what do they hide? what happened 4 years ago that caused them this bad reputation? there were auto defects and they denied the claims or what? not listened to claims?

APC_MATRIX_ · Jul 23, 2004

TheDruid said:

when they said that "mitsu hides stuff"... what do they hide? what happened 4 years ago that caused them this bad reputation? there were auto defects and they denied the claims or what? not listened to claims?

Yeah, they denied warranty work and such, said there were no problems when there were some HUGE problems with their cars :?

Chrysler f***** Mitsu up big time, one of the stupidest things I've ever seen in the car world :cry:

TheDruid · Jul 23, 2004

ahhhh i see...

and chrysler was working with mitsu at the time?

TheDruid · Jul 23, 2004

arent mitsu and dodge working together right now? hence..."mitsu 3000gt/dodge stealth", "evo/srt4 engine", "eclipse/ talon/cougar (i think that ones a dodge; not sure)"

flavious27 · Jul 23, 2004

But Mitsu problems are more than a model-sharing program. MItsu is a small Japanese car company trying too hard. The triple zero promotion killed their bottom line; but they need to have just 2 cars and 1 truck/SUV. oh TheDruid, it was 2G eclipse/talon and 3G eclipse/stratus. cougar was a mercury

TheDruid · Jul 24, 2004

ahh i see...

how big is mitsubishi compared to honda in japan? size and popularity wise? cuz i hear that Honda is crappy over there. sorta like a saturn here... top car makers in japan i believe are toyota and nissan yeah?

where do honda and mitsu and subaru stand?

jdmmarkii · Jul 24, 2004

TheDruid said:

when they said that "mitsu hides stuff"... what do they hide? what happened 4 years ago that caused them this bad reputation? there were auto defects and they denied the claims or what? not listened to claims?

they were hiding recalls. like what he said above, very BIG.

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