InfoAnda - US auto woes spell troubles for Japanese as well

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Philippine floods kill 12, including 3 Europeans | 8 August 2009
Injured Ponting ruled out of final Ashes Test | 31 December 2010
Facebook revamps comments platform for websites | 2 March 2011

India hopes for 'rainbow coalition' at trade talks | 19 August 2009

">Forum Views () ">Forum Replies ()

Read more with google mobile : US auto woes spell troubles for Japanese as well

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: US auto woes spell troubles for Japanese as well By YURI KAGEYAMA,AP Business Writer AP - Tuesday, December 16 TOKYO - Even as General Motors and the entire U.S. auto industry teeters on the edge of collapse, its major rivals are hardly celebrating. Toyota and other Japanese carmakers say the bankruptcy of any of Detroit's Big Three would spell serious trouble for them as well. Should that happen, "the damage to our business is certain to be tremendous," Toyota Motor Corp. spokesman Hideaki Homma told The Associated Press Monday. "The conditions for the U.S. auto market are extremely tough right now, and any additional negative is sure to make things worse." One major problem is that Japanese carmakers in the U.S. share many of the same parts suppliers. If a Detroit automaker were to collapse, suppliers would likely follow, setting off a chain reaction that could would wreak havoc for Japanese production in the U.S., a vital market. More broadly, the U.S. crisis could lead to huge job losses and further weaken consumer spending, especially for big-ticket items like automobiles. Together, the three big American automakers employ 239,000 workers in the United States. Counting other businesses that depend on the automakers, economists estimate that 2.5 million jobs would be lost if all three companies went out of business. "Whether it is the impact on consumer confidence or the impact on the suppliers that we all share, having one or more of the major automakers in severe distress has consequences for the entire industry," said Simon Sproule, corporate vice president of global communications at Nissan Motor Co., Japan's third-biggest carmaker. A possible advantage from a collapse of the U.S. auto industry could come only many years later _ perhaps in a decade _ when Japanese manufacturers would compete against weaker rivals in the U.S., especially if they further exploit their lead in green technology with hybrids or electric vehicles, said Koji Endo, auto analyst with Credit Suisse in Tokyo. "But that's for the long, long term," he said. "For now, the situation is bound to get worse for the Japanese." After the U.S. Senate last week rejected an auto industry bailout, the Bush administration is considering ways of providing emergency aid to General Motors Corp. and Chrysler LLC, which have said they could run out of cash within weeks without federal aid. Ford Motor Co. says it can survive 2009, but it has also asked Congress for a line of credit. While Japanese automakers are in far better financial state than their American counterparts, they are all getting battered in the shrinking U.S. vehicle market. In November, when American auto sales plunged 37 percent to their worst level in more than 26 years, Toyota's sales sank 34 percent, Nissan's were down 42 percent and Honda Motor Co.'s fell 32 percent. Vehicle sales in Japan and Europe are also waning, and even demand in developing economies in China, India and Latin America is weakening. "This is a global crisis affecting the entire auto industry: No one is immune," said Nissan's Sproule. "And it is in everyone's interest to see a healthy auto industry that is able to manage through this crisis." Toyota, Japan's top automaker that makes the Camry sedan and Prius hybrid, has already slashed its profit forecast for the fiscal year through March to 550 billion yen ($5.9 billion), or about a third of its previous year's earnings. Expectations are rife another downward revision is coming. For now, there are even alarming signs the Japanese may be falling in the footsteps of the U.S. automakers, said Endo. GM, which has already idled five factories this year, announced Friday it is temporarily closing 21 factories across North America. Toyota has also suspended production at several North American plants in recent months. The region is critical for Japan's automakers _ both Toyota and Hond get more of their sales from North America than they do from Japan, "There is absolutely no way in my view that the Big Three's woes can work as a plus for the Japanese automakers," said Tsuyoshi Mochimaru, analyst for Barclays Capital in Tokyo. "So what if there might be a market-share increase some years ahead? The pie itself is shrinking," he added. "Sales volume is plunging. And that's why all the automakers are suffering." Toyota's Homma notes that 15 or 20 years ago, when there was a backlash from some American politicians and consumers toward Japanese products, Toyota may have gotten criticized as benefiting from _ or even causing _ U.S. automaker's demise. But these days, Toyota is no longer viewed as foreign, and consumers understand that Toyota employs American workers and purchases from American suppliers, he said. "We are a member of the American auto industry," Homma said. "Without (a bailout), chaos is sure to come." Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Indian bond yields ease again on rate cut hopesReuters - 27 minutes ago Dutch DSM issues profit warning, cuts staffAP - 30 minutes ago Russia c.bank cuts credit limits for 34 banksReuters - 35 minutes ago FTSE 100 up 34.23 at 4,314.58AP - 36 minutes ago India's SBI to sell 15-yr bonds at 8.9 pct-sourcesReuters - 39 minutes ago Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Queen Elizabeth II reins in extravagance as credit crunch grips White House: no action on auto bailout while Bush in Iraq Russia crowned Miss World 2008 in African event Fortis bank, saved from collapse, again on shaky ground View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Monday, 15 December 2008
Defence Minister Teo outlines strategies for dealing with security challenges
Bulgaria to host its first comprehensive Picasso exhibition
Parliamentary vote starts in gas-rich Turkmenistan
Mumbai attackers more tech savvy than the police
Sri Lankan air force bombs rebels in north
Madonna to get Brazil 'Sticky and Sweet' as tour wraps up
Protester killed during voting in Indian Kashmir
In a crisis, even discounters give discounts
Winslet, Law and Owen to lead line-up at Berlin film fest
Web site: Tamil rebels kill 89 Sri Lankan soldiers
Former Thai PM supporters gather for rally
Finance Minister says many jobs still available despite weak economic outlook
Boys’ Brigade Sharity Gift Box project falls short of target by about 60%
Committee on workplace health formed to bring down sickness
China, Japan, SKorea seek resumption of NKorea talks
Businessman gets six months jail for tax evasion
Smoking ban to be extended to all indoor public places by Jan 2009
Businesses receiving fire hazard warnings more than double last year’s
Djembe African drums catch on in Singapore
Subsidised training for S’porean professionals switching to healthcare jobs
Back briefly, Amy Poehler bids 'SNL' viewers adios
Cruise ships still making way to S’pore, despite tough economic times
`Day the Earth Stood Still' launches to $31M debut
Bangladesh court orders parents to free UK doctor
Charlie Sheen's daughters unhurt in LA car crash
AP IMPACT: Pakistan offensive shows slow success
NZ regulator to prosecute airlines for price fixing
Australia fast-tracks renewable energy funding
Keanu Reeves sci-fi movie sweeps North America box office
Three years after beach race riots, art bridges Sydney divide
Pakistan share price floor set to go on Monday
Analysis: Bush's Iraq trip highlights war unwon
Hamas leaders say will not extend Gaza truce | International |
Snow, rain storms trigger blackouts, travel chaos in France
Huge crowds gather in Gaza for Hamas anniversary
Russian police arrest 150 at opposition protests
Crews struggle to restore power after ice storm slams northeast US
Nations launch offensive against Uganda LRA rebels | International |
European banks suffer new hit from Madoff scandal
US military deaths in Iraq war at 4,209
Pakistan steps up its offensive against militants
Shoe attack on Bush mars farewell Iraq visit
Australia fast-tracks renewable energy funding
Britain promises more anti-terror aid to Pakistan
Japanese business confidence falls fastest in three decades
Obama left with little time to curb global warming
Telstra says dumped from A$10 bln broadband plan
Bush says Iraq task 'difficult but necessary'
S.Korea c.bank to supply 6.5 trln won this week
Malaysia's I-Bhd to ink Capitaland deal-paper
Bush meets Iraqi president in Baghdad
S.Korean won rises nearly 3 pct early, KOSPI jumps
Number of NKoreans increased at Seoul-funded estate
Seoul shares gain helped by US auto bailout hopes
Swissport says may shut ops at Singapore's Changi
First model of Japan's bullet train runs for final time
Singapore's Parkway says to cut staff, salaries
New Zealand services sector dips in November-survey
Oil-rich Angola launches direct flight to China
OPEC divisions again on display heading to Algeria
A mean green ogre named Shrek moves to Broadway
Zimbabwe publishes law for unity government | International |
American Idol changes its tune a little | Entertainment |
Earth spins Keanu Reeves to No. 1 at box office | Entertainment |
Stone Temple Pilots and Offspring highlight KROQ show | Entertainment |
Fishburne enjoys memorable first day on CSI job | Entertainment |
Torino and Che solid in limited release | Entertainment |
Taiwan, China launch direct shipping links
Ferry capsizes in Philippines, drowning 22
'Dark Knight,' 'Milk' make AFI film list
S’pore captures maiden win in Pro—Tour GrandFinals
Diaz: Don't count on seeing me in 'Shrek' musical
Direct daily flights start between China-Taiwan: state media
Australia calls for 5-to-15 pct pollution cut
Thai Parliament to choose on new prime minister
Thai lawmakers to vote for new prime minister
Opposition poised to take power
Australia to cut polluttion 5 pct to 15 pct
50 dead or missing as ferry capsizes in Philippines
Ferry capsizes in Philippines, drowning 22
Japan destroyer collides with small boat: coast guard
RPT-GLOBAL MARKETS-Asia stocks up on fresh US auto bailout hopes
SKorea's Lee says still planning to give away wealth
Singapore final Q3 jobless rate steady at 2.2 pct
Thai opposition poised to take power
WHO: Vietnam's helmet law saves lives
Thai opposition leader nets votes to take power
China probing 27 cases of melamine-tainted animal feed: state media
No-show Queen of Soul pipes up at benefit concert
Bush: Iraq war is not over, more work ahead
Thai opposition leader wins majority in PM vote: AFP tally
Thai parliament starts voting for new PM
ASEAN charter comes into force
Opposition party leader becomes new PM of Thailand
'Survivor' respects its elders in season finale
AP critics pick top films of 2008
Leno decision shows retreat from 10 p.m. dramas
China transport links to help spur Taiwan economy
Owners of Mumbai's Taj hotel set up victims' trust fund
Bush warns of long struggle on surprise Afghanistan visit
Hamas leaders say will not extend Gaza truce | International |
Bush makes stop in Afghanistan to rally troops
Crews struggle to restore power in ice-covered US northeast
Bush arrives in Kabul for talks with Karzai
European banks suffer new hit from Madoff scandal
Christian missionaries stir unease in north Africa | International |
Karzai says Afghanistan, Britain facing common threat
New Thai prime minister faces immediate protests | International |
Iraqi justice system falls short: report | International |
North Korea's Kim trying to test the process: Bush | International |
Tokyo police bust child porn ring: official
Thai opposition leader becomes prime minister
Australia to cut pollution 5 to 15 percent by 2020
Rice makes 11th-hour Mideast, Zimbabwe, Somalia foray at UN
ASEAN meets to launch charter creating new bloc | International |
China's industrial output continues to slow in November: govt
ASEAN charter comes into force
Chinese reporter chasing corruption claims disappears | International |
Australia to cut greenhouse gas emissions by five percent by 2020
Afghan reporters keep shoes on for Bush
Boss of Egyptian firm in cellphone venture arrives in NKorea: media
Eurex to list KOSPI options futures-Korea Exchange
UN chief visit would help Myanmar: EU envoy
Google wants fast track for its content: WSJ | Technology |
Pakistan c.bank sells 21.3 bln rupees of T-bills
Malaysia plans new panel to probe errant judges
S.Korea says to spend $10 bln on rivers over 4 yrs
Japanese Nobel winner says will bury medal
Seoul shares end up 5 pct; autos, builders rally
China's industrial growth slows further
Oil higher in Asia on expectations of OPEC production cut
Oil higher in Asia on expectations of OPEC production cut
China's president warns of 'grim' job market: state media
Oil rises to $47 as OPEC prepares production cut
Despereaux a dreary mouse tale | Entertainment |
Dark Knight, Iron Man among AFI's top films | Entertainment |
A Yes vote for new Jim Carrey comedy | Entertainment |
Leno on a roll as Tonight time dwindles | Entertainment |
Earth stands tall at overseas box office | Entertainment |
Recession fears not hampering Xmas luxury food shops in Britain
NEA study: Theaters vulnerable during recession
Tricks of the trade: the illusion of the costume
Singapore Oct retail sales fall s/adj 2.1 pct
Bush makes stop in Afghanistan to rally troops
Thai opposition leader becomes prime minister
Bush: World must be 'firm and patient' on NKorea
New Thai PM wants ASEAN summit in February
SKorea to build centre for Vietnam's Agent Orange victims
Australia to cut greenhouse gas emissions by five percent by 2020
Rare shooting leaves 6 dead in northern Vietnam
Sri Lanka says fighting rages with rebels
China to investigate cases of tainted animal feed
Eric Tsang entertainment business fails
Sequel to 'The Phantom' to be filmed in Australia
Yu Tian bids goodbye to singing
Andy Lau's Singapore Concert Brings High Energy Performance On and Off Stage
Vivian Chow ends 19 years relationship with Joe Nieh
Seoul: No decision on halting energy aid to NKorea
Singapore’s labour market slows, total unemployment grew by 55,700 in Q3
Malls haven’t cut back on festive decor despite gloomy economic outlook
Cambodian king names half-brother as chief advisor
Media reports: NZ diplomat faces Fiji expulsion
New anthem may drop 'Turkmenbashi' references
Election of new Thai PM a sign of strong democracy: ASEAN chief
New Thai PM in for 'roughest ride'
Russian-led grouping declares Turkmen vote fair
Israel releases Palestinians prisoners
Iraqi shoe-throwing reporter becomes the talk of Iraq | International |
Three Germans kidnapped in Yemen
Iraqis protest for release of journalist
Protest staged outside Greek court, rallies planned | International |
Russian warships bound for Cuba in new show of strength
OPEC set to cut oil output as demand drops
Iraqi police: suicide bomber kills 5 near Baghdad
Mumbai attackers stole credit cards, money: police | International |
Bush laughs off Iraq flying shoes drama
Palestinians celebrate release from Israeli jails | International |
Top banks face billions in global losses from Madoff scandal
Seven Yazidis killed in Iraq attack
Israel warned against halting cash flow to Gaza
Mystery grows over general's slaying in Pakistan | International |
Pakistan hauliers refuse to take supplies to Afghanistan
UN urges Iraq to treat Saddam-era officials fairly
Zimbabwe accuses Botswana of training insurgents | International |
Bush's Iraq-Afghan farewell tour marred by dissent
Up to 250 killed in Darfur tribal clashes: peacekeepers | International |
Impoverished NKorea gets new mobile network
Keppel Corp wins $81 mln in environmental deals
Arab world hails shoe attack as Bush's farewell gift
Ugandan soldiers move on rebel bases: army | International |
Pakistan stocks down after floor removed
Highlights of new ASEAN Charter
Taiwan c.bank to let ADB issue Taiwan-dollar bonds
Time Warner raises stake in Eidos | Technology |
Russian-led grouping declares Turkmen vote fair
Impoverished NKorea getting new mobile network
Lung cancer pill as effective as chemotherapy in managing disease
Virgin Media rolls out superfast broadband | Technology |
HK stocks rise after China moves to boost spending
S’pore, Gulf states sign FTA, recognise MUIS Halal certification
Pakistani stocks fall after price floor removed
S’pore, Macao renew ongoing collaboration in healthcare
Taiwan Stabilization Fund to monitor stock market
Singapore, GCC sign pact to boost trade, investments
OPEC set to cut oil output as demand drops
Confidence plunges at Japanese companies
Oil up sharply near $49 as OPEC readies output cut
Russia LUKOIL says no Repsol talks, keen on OPEC cuts
US auto woes spell troubles for Japanese as well
American Idol changes its tune a little | Entertainment |
GLOBAL MARKETS-World equities rise, oil wobbles ahead of OPEC
Earth spins Keanu Reeves to No. 1 at box office | Entertainment |
Oil steady near $46 as OPEC prepares output cut
Oscar documentary shortlist favors social issues | Entertainment |
Slumdog, Happy top Satellite nods | Entertainment |
Man shoots at rappers over cranky old man lyrics | Entertainment |
SNL is criticized for 'attack' on blind Americans
S.Korea c.bank to supply $1 bln in 3-mth swaps
Gov't: 40 Taliban killed in Afghan-NATO operation
Full—day bus lanes to be extended to three locations
Bush's Iraq-Afghan farewell tour marred by dissent
ASEAN charter comes into force
Japan begins withdrawing Iraq airlift mission
World Bank: China focus on itself can aid world
Impoverished NKorea gets new mobile network
Franklin show goes on after she misses award event
Pakistan truckers refuse to haul NATO, US supplies
Cruise says he regrets 'glib' outburst on 'Today'
More signing up for accounting courses despite financial turmoil
PM Lee congratulates China’s Hu on the country’s 30 years of reform
Correction: Italy-La Scala story
Report: McCartney says he's the political Beatle
Mich. 'Extreme Makeover' family gets financial aid
Russian-led group declares Turkmen vote fair
More than 1,000 species discovered in Mekong: WWF
Deaf 'Extreme Makeover' couple gets financial aid
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01