For the record…
As if they were rubbing salt in Detroit’s wounds, Toyota just announced that it is posting record quarterly profits for the 4th quarter of 2006. That’s the same quarter in which Ford posted a $5.8 billion loss to end its worst year in the company’s 103-year history.
The entire blame cannot be placed at the feet of high labor costs though that is where U.S. automakers seem to be cutting. As Ford, GM and Chrysler workers brace for lay-offs, Toyota is trying to decide where to build its next U.S. factory.
Toyota reports brisk sales of its fuel-stingy SUV, the RAV4 and the mid-sized Camry. During Super Bowl ads, Ford was still hawking the gas-guzzling, but high-profit margin F150. With oil prices set to rise as the winter gets colder, Toyota’s sales will only go up and Ford’s will drop.
After watching Who Killed The Electric Car? I can only say that U.S. automakers brought this on themselves. I’d buy a plug-in hybrid SUV in a minute!
Big Three: Why haven’t you learned anything?
