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Old 11-06-2005, 12:45 PM   #1
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Default GM, Toyota chiefs meet in Tokyo "to discuss various topics"

Quote:
TOKYO (AFX) - General Motors Corp chairman Rick Wagoner and Toyota Motor Corp president Katsuaki Watanabe met in Tokyo today amid reports the two car giants are to reaffirm a tie-up in fuel cell development.

The two business leaders 'met in Tokyo for about one hour and discussed various topics,' Toyota said in a brief press release.

'The meeting has been arranged to allow Watanabe to introduce himself after his appointment on the occasion of chairman Wagoner's visit to Japan,' the statement added.

Watanabe became president of the world's No.2 carmaker in June.

Wagoner came to Tokyo on his way back from China where he inspected a GM factory.

Last month, GM announced that Toyota is to spend 315 mln usd to acquire GM's shareholdings in Fuji Heavy Industries Ltd, the maker of Japanese Subaru vehicles.
Quote:
from NYSE http://www.nyse.com/interface/jsp/NH...sdowjones=true

General Motors Corp. (GM) and Toyota Motor Corp. ( 7203.TO) reaffirmed Wednesday that they will reinforce their cooperative relationship, Kyodo News reported, citing officials of the two automakers. The accord came during talks in Tokyo between GM Chairman Rick Wagoner and Toyota President Katsuaki Watanabe ahead of the expiration next March of the two companies' contract to conduct joint research on advanced technology such as fuel-cell vehicles, the report said. A Toyota executive said the meeting was held chiefly as "a courtesy call." But analysts speculated that the top executives of the world's No. 1 and No. 2 automakers may have discussed key issues, such as those that may lead to a future consolidation of the auto industry, in view of the fact that Toyota acquired GM's shareholdings in Fuji Heavy Industries Ltd. (7270.TO) for about Y35.4 billion after a meeting in May in Toyota, Aichi Prefecture, between Wagoner and Fujio Cho, Watanabe's predecessor, Kyodo reported. Toyota reportedly decided to buy Fuji shares from GM in another step to support the U.S. carmaker, which is struggling with sluggish sales. Toyota raised its vehicle prices in the U.S. market earlier this year in a move seen intended to help GM become more competitive.
Significant? Insignificant? You be the judge. I find it interesting that Toyota buys GM's stake in Fuji, ostensibly for access to battery technologies and then GM wants to buy fuel cell technology from Toyota?
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Old 11-06-2005, 01:16 PM   #2
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If I was Toyota, Fuji and others I would be VERY careful of GMs reverse Midis touch.
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Old 11-06-2005, 03:07 PM   #3
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I would take this with a box of salt:

"Toyota reportedly decided to buy Fuji shares from GM in another step to support the U.S. carmaker, which is struggling with sluggish sales. Toyota raised its vehicle prices in the U.S. market earlier this year in a move seen intended to help GM become more competitive."

Toyota has no reason to support GM, and the official who made the comment about raising prices later retraced it.
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Old 11-07-2005, 11:51 AM   #4
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Quote:
Originally Posted by Mike Wevrick
I would take this with a box of salt:

"Toyota reportedly decided to buy Fuji shares from GM in another step to support the U.S. carmaker, which is struggling with sluggish sales. Toyota raised its vehicle prices in the U.S. market earlier this year in a move seen intended to help GM become more competitive."

Toyota has no reason to support GM, and the official who made the comment about raising prices later retraced it.

There may be. If the US public senses that GM is about to tank, there could be serious anti import backlash.
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Old 11-07-2005, 12:03 PM   #5
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Quote:
Originally Posted by Hayes
If I was Toyota, Fuji and others I would be VERY careful of GMs reverse Midis touch.
True.dat
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Old 11-07-2005, 04:51 PM   #6
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Quote:
Originally Posted by SoDealer
There may be. If the US public senses that GM is about to tank, there could be serious anti import backlash.
I doubt it. Many imports are not even imported; they are made in the US and often partly designed here. Plus GM is more a victim of its own screwups than of competition from Toyota.
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Old 11-07-2005, 06:18 PM   #7
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Quote:
Originally Posted by Mike Wevrick
I doubt it. Many imports are not even imported; they are made in the US and often partly designed here. Plus GM is more a victim of its own screwups than of competition from Toyota.
I agree with you... just noting a possibility.
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Old 11-08-2005, 02:41 AM   #8
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maybe they are meeting to discuss the terms of GM's surrender?
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Old 11-08-2005, 02:41 AM   #9
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Quote:
Originally Posted by Mike Wevrick
I doubt it. Many imports are not even imported; they are made in the US and often partly designed here. Plus GM is more a victim of its own screwups than of competition from Toyota.
When it comes to anti-import bias, people rarely respond to logic - they rail against indiana-built subarus and go buy a ford built in mexico.
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Old 11-08-2005, 03:26 AM   #10
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Quote:
Originally Posted by monovich
maybe they are meeting to discuss the terms of GM's surrender?
That's just plain funny.

Seriously, I think they were going over plans for Toyota to produce the new Camaro.
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Old 11-08-2005, 10:11 AM   #11
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Quote:
Originally Posted by RankFrank
When it comes to anti-import bias, people rarely respond to logic - they rail against indiana-built subarus and go buy a ford built in mexico.
True, but its not as bad as it used to be. I remember when many Americans would not even consider buying an imported car. It used to be considered practically unpatriotic. That group still exists, but its much smaller.
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Old 11-08-2005, 10:46 AM   #12
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Quote:
Originally Posted by monovich
maybe they are meeting to discuss the terms of GM's surrender?

very good
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Old 11-15-2005, 12:16 AM   #13
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Quote:
Originally Posted by monovich
maybe they are meeting to discuss the terms of GM's surrender?
toyota always kills the men burns the huts and makes teh women and children sew seatcovers in sweatshops

watch out gm!
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Old 11-17-2005, 02:25 PM   #14
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Quote:
Originally Posted by Crelm
toyota always kills the men burns the huts and makes teh women and children sew seatcovers in sweatshops

watch out gm!


So what you're saying, is that Toyota is actually a company run by..... vikings?


If that is true, I would buy a Toyota right now.
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Old 11-17-2005, 02:47 PM   #15
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Quote:
Originally Posted by monovich
maybe they are meeting to discuss the terms of GM's surrender?

This is the best post I've read in a long time.
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Old 11-18-2005, 02:26 PM   #16
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Vikings are cool. What was this thread about?
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Old 11-18-2005, 03:31 PM   #17
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Quote:
Originally Posted by Mike Wevrick
I would take this with a box of salt:

"Toyota reportedly decided to buy Fuji shares from GM in another step to support the U.S. carmaker, which is struggling with sluggish sales. Toyota raised its vehicle prices in the U.S. market earlier this year in a move seen intended to help GM become more competitive."

Toyota has no reason to support GM, and the official who made the comment about raising prices later retraced it.

+1 i think these guys are just playing a grandiose game of chess here.
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Old 11-18-2005, 06:36 PM   #18
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Toyota is helping GM (A la Chrysler + mitsu) by purchasing their stock. In case you guys didn't notice (or didn't know) some toyota cars = GM cars (cavalier, Pontiac Vibe aka Matrix) if GM fails, toyota sales will be down, they are just protecting their investment; it's pretty obvious actually...
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Old 11-18-2005, 07:58 PM   #19
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Cavalier was a completely GM car. The Prism however, was a corolla. It was a joint venture since we got a US specific Corolla. GM has a history of working with many different Japanese companies (Honda trading with Isuzu and so forth). The entire Geo brand was rebadged japanese cars.

However, I think that GM using Toyota fuel cell technology is backwards. GM has a leg up on future tech, due to government money put into the research (GM's fuel cell "skateboard" platforms that are all over the autoshows for the past few years, and they've had a fuel cell powered minivan in Europe as an Opel years before Honda's FCX) Honda holds the high end in Japanese technology for fuel cells. I see this as GM trying to use Toyota's market share to cement thier Hydrogen format as the "standard" (there has been much debate of how the Hydrogen is stored, transported, and used). Plus they could use the battery recharging - as seen in the Prius - as a standard to drive down total costs.
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Old 11-18-2005, 08:35 PM   #20
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Quote:
Originally Posted by Derbagger
GM has a leg up on future tech.
that may be(?), but they're decades behind when it comes to interior design/quality manufacturing. GM interior as do most American cars, make me SICK. The playschool buttons gotta go.
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Old 11-21-2005, 03:22 AM   #21
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Remember the EV1 and the hybrid show car variants a few years ago? GM has most of the pieces of the puzzle, I think. Hydrogen storage and/or battery technology are the big hurdles.

So for automobiles, we'll have to wait and see who really makes the breakthroughs and builds the better cars.

But, one thing that's for sure is that Japan has the best robots. Pontiac, where is your dancing robot?

Mitsubishi and Nissan build rockets, too. Where's your rocket Chevrolet? Did Oldsmobile ever actually MAKE a rocket in their 100 year life? No.
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Old 11-21-2005, 05:06 AM   #22
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Two things:
1) The FHI sale can be easily explained by one word: cash. That is, in case you haven't noticed, GM is in such deep doo-doo that it needs to sell everything it can (like GMAC) to get more of it.
2) Toyota and GM have been partners in various ventures for a while, such as the aforementioned Corolla/Prizm and the Matrix/Vibe. Having worked with both in the past, I can say that their engineering cultures are also very compatible, or at least certainly better than any other US/Japan auto matchup that I can think of.
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Old 11-21-2005, 09:42 AM   #23
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i did a double take the first time I saw a toyota cavalier over here in okinawa...but now it's all making sense
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Old 11-22-2005, 10:06 AM   #24
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It's interesting to note that GM just announced a round of layoffs and plant closings/scale backs. One of those was the Oshawa plant in ON which is about 100 miles away from where Toytoa is building a new plant in Woodstock. It's possible that they may have discussed Toyota hiring GM employees from that plant which would lower the amount of people that GM have to put in the job bank.
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Old 11-22-2005, 10:49 AM   #25
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Woodstock is on the other side of Toronto from Oshawa and would be a horrendous commute. Maybe some previous GM workers would apply to work there but I doubt Toyota would discuss hiring them with GM. They would just advertise the jobs and hire whoever they want.
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