| The Toyota Motor Corp. is wary that its profits at the | | | | last year in comparison to the 2005 figures. |
| expense of Detroit automakers could have political | | | | Press said Toyota is in the process of adding the |
| implications however the company's top North | | | | capacity to build 600,000 more units in North America, |
| American executive says that would not change its | | | | or a total of 2.15 million vehicles, by 2010. He added that |
| business plan. | | | | the company would like two-thirds of its vehicles sold |
| In an interview, Jim Press, Toyota's North American | | | | in North America to be made there by 2010, but that |
| president, said last Tuesday that the Japanese | | | | will depend on sales. "People want to invest in |
| automaker always is looking at the consequences of | | | | America," Press said. "Money flows here. These are |
| the disparity between its performance and its | | | | the kind of dynamics that affect currency." |
| U.S.-based competitors. He added, "The way the issue | | | | Stressing health care issues, he said Toyota provides |
| is played out doesn't affect the business. The business | | | | health insurance to its U.S. workers in a way that it |
| is you take care of customers. You make | | | | maintains benefits and maintains fiscal responsibility. |
| investments. Our philanthropy is up. We're doing more | | | | "We build cars here," he said. "People in Kentucky |
| for the community." | | | | have good health care." |
| Sen. Debbie Stabenow, D-Mich., and other lawmakers | | | | He said Michigan remains the center of automotive |
| from other states have charged that the Japanese | | | | expertise, and Toyota plans to capture that by |
| government has kept the yen artificially low. This | | | | doubling its employment in the Ann Arbor area to |
| makes exports cheaper in the United States and other | | | | around 1,000 with a new technical center that is now |
| places. | | | | under construction south of the city. |
| However, Press said criticisms that Toyota benefits | | | | In addition, Press said that incentives placed on the |
| from currency manipulation and also from Japan's | | | | new Tundra full-sized pickup truck were planned |
| taxpayer-financed health care system are unfair. | | | | responses to those offered by competitors, not a |
| “There are so many forces governing currency | | | | response to slow sales. The Toyota Tundra pickup |
| that the values would be difficult to manipulate,” he | | | | truck which has been made available in five |
| continued. “Among the factors, he said is that the | | | | configurations is equipped with outstanding safety |
| U.S. still is attractive to investors. Toyota isn't | | | | features such as four-wheel disc brakes; Volant cold |
| encroaching on the Detroit Three's territory, it's merely | | | | air intake; front, side, and curtain airbags; traction control; |
| satisfying demand for its products, which recently have | | | | and a full ABS. |
| been a better match for consumer tastes.” | | | | Press noted that competitors have incentives of up to |
| In 2006, Toyota’s sales increased by 12.9 percent | | | | $7,000 on 75 percent of their pickups, and customers |
| to more than 2.5 million vehicles thus giving the | | | | have come into Toyota dealerships asking what its |
| company the opportunity to enjoy a 15 percent US | | | | incentives are. Incentives on the Tundra averaged |
| market share. The automaker’s gains came at the | | | | $1,647 per vehicle in February, according to data |
| expense of other auto giants, namely General Motors | | | | compiled by Edmunds.com, a research site for car |
| Corp., Ford Motor Co. and DaimlerChrysler. This is | | | | buyers. |
| because the overall US auto market lost 2.6 percent | | | | |