Ford, Toyota, Honda sales in U.S. drop more than 30%

Wednesday 03rd December, 06:00 AM JST

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6 Comments

elbudamexicano at 02:29 PM JST - 3rd December

Wow! They must be having great sales at Ford, Toyota and Honda in the USA! Great time to buy a new car, that is if you have any extra money and did not go broke from the mess on Wall Street!
Sarge at 02:35 PM JST - 3rd December

Toyota and Honda's sales have dropped even more than Ford's but you don't see them begging their government for a bailout.

"United Auto Workers Union"

A major contributor to the automakers' financial troubles.
bebert at 03:20 PM JST - 3rd December

Chrysler and GM sales were down over 30%, too. It's just a lousy market for sales. All the blame for U.S. auto companies can't be placed at the feet of the U.A.W. There are a lot of very poor business decisions to blame. For example, Ford bought several European auto makers and lost their shirts on all of them - especially Jaguar. The only people who made out were the banks who handled the acquisitions (and Bill Ford, who got sweet heart deals on IPO's offered by those banks). Toyota and Honda's management squirreled away their profits and reinvested in the company whereas the Big 3 squandered their meager profits on profit sharing bonuses and poorly thought out acquisitions.
bdiego at 04:53 PM JST - 3rd December

Here are exact figures from Calculated Risk: Christler off 47%, GM off 41%, Toyota off 34%, Ford off 31%

At the end of it, Toyota is the world's biggest car manufacturer, followed by GM. More telling, whereas GM slipped from unprofitable to massive bleeding, Toyota is slipping from very profitable to slightly unprofitable. That speaks volumes.
unscrejects at 03:52 PM JST - 4th December

Sarge: The UAW have no idea what the Big Three are up against. Toyota has plant and equipment that's listed under book value yet its amortized - meaning? They have phantom fulltime factory workers - yet most of the workers are temps. Corporate tax is 'discussed' in smokey bars - the Big Three pay out the yazoo.... need I say more? The UAW are a crankshaft short of a drive through burgher joint.
whizzer at 05:12 PM JST - 4th December

"Concessions are also expected from the United Auto Workers Union."

Thanks to companies like Toyota that don't pay overtime the American worker is about to get stiffed ! I say send some of the union reps here to Japan and talk to a few of the salarymen that spend their whole lives working 14 hour days devoted to the company sweat shop. Then go back and try to sell that pisspoor quality of life to the grunt on the assembly line. Then prepare yerself for the fall out against anything made in Japan. Make no mistake, the Japanese are trying to change the American way of life... and it aint for the better !