The Truth About Cars » Currency http://www.thetruthaboutcars.com The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Wed, 10 Feb 2016 17:42:47 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.4 The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars no The Truth About Cars editors@ttac.com editors@ttac.com (The Truth About Cars) 2006-2009 The Truth About Cars The Truth About Cars » Currency http://www.thetruthaboutcars.com/wp-content/themes/ttac-theme/images/logo.gif http://www.thetruthaboutcars.com Automakers Are Taking a Beating Over China http://www.thetruthaboutcars.com/2015/08/automakers-taking-beating-china/ http://www.thetruthaboutcars.com/2015/08/automakers-taking-beating-china/#comments Wed, 12 Aug 2015 16:00:17 +0000 http://www.thetruthaboutcars.com/?p=1139322 Stocks for automakers such as General Motors, Fiat Chrysler Automobiles and Ford took a pounding Tuesday after China devalued its currency in an effort to boost exports from the country, stemming the economic slowdown already underway. In a statement released Tuesday, GM said it had enough of a local supply chain within China to offset its […]

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Stocks for automakers such as General Motors, Fiat Chrysler Automobiles and Ford took a pounding Tuesday after China devalued its currency in an effort to boost exports from the country, stemming the economic slowdown already underway. In a statement released Tuesday, GM said it had enough of a local supply chain within China to offset its […]

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Volkswagen Won’t Cut Prices to Chase Market Share in U.S. http://www.thetruthaboutcars.com/2015/05/volkswagen-wont-cut-prices-chase-market-share-us/ http://www.thetruthaboutcars.com/2015/05/volkswagen-wont-cut-prices-chase-market-share-us/#comments Sat, 02 May 2015 15:37:04 +0000 http://www.thetruthaboutcars.com/?p=1059338 Even with a depressed euro and sales falling 2.7 percent in April, Volkswagen is staying the course. According to Automotive News, Volkswagen has no plans to change its current pricing strategy to chase market share. The brand has seen steady declines in the U.S. even as the market overall has been growing. “We believe it’s […]

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Even with a depressed euro and sales falling 2.7 percent in April, Volkswagen is staying the course. According to Automotive News, Volkswagen has no plans to change its current pricing strategy to chase market share. The brand has seen steady declines in the U.S. even as the market overall has been growing. “We believe it’s […]

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Ford’s Hinrichs Accuses Toyota of Profiting from Currency Manipulation http://www.thetruthaboutcars.com/2014/02/fords-hinrichs-accuses-toyota-of-profiting-from-currency-manipulation/ http://www.thetruthaboutcars.com/2014/02/fords-hinrichs-accuses-toyota-of-profiting-from-currency-manipulation/#comments Fri, 07 Feb 2014 12:00:24 +0000 http://www.thetruthaboutcars.com/?p=736001 In a speech given to an Economic Club of Chicago luncheon held in conjunction with the Chicago Auto Show media preview, Ford Motor Company’s president for the Americas Joe Hinrichs criticized Japan and Toyota in particular for benefiting from currency manipulation. Hinrichs said Ford would “urge Congress to oppose a TPP [Trans-Pacific Partnership currently being negotiated.] […]

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In a speech given to an Economic Club of Chicago luncheon held in conjunction with the Chicago Auto Show media preview, Ford Motor Company’s president for the Americas Joe Hinrichs criticized Japan and Toyota in particular for benefiting from currency manipulation. Hinrichs said Ford would “urge Congress to oppose a TPP [Trans-Pacific Partnership currently being negotiated.] […]

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Akio Toyoda Sees Emerging Markets’ Growth Slowing, Uncertainties in China, Japan http://www.thetruthaboutcars.com/2014/01/akio-toyoda-sees-emerging-markets-growth-slowing-uncertainties-in-china-japan/ http://www.thetruthaboutcars.com/2014/01/akio-toyoda-sees-emerging-markets-growth-slowing-uncertainties-in-china-japan/#comments Thu, 02 Jan 2014 13:00:58 +0000 http://www.thetruthaboutcars.com/?p=691122 Bloomberg is reporting that Akio Toyoda, president of Toyota Motor Corp. and scion of its founding family said that a slowdown in emerging markets and uncertainty over demand in both China and the Japanese home market makes 2014 “unpredictable”. While the weaker yen increased earnings for Japanese exporters, those profits are being offset by slowing demand […]

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Bloomberg is reporting that Akio Toyoda, president of Toyota Motor Corp. and scion of its founding family said that a slowdown in emerging markets and uncertainty over demand in both China and the Japanese home market makes 2014 “unpredictable”. While the weaker yen increased earnings for Japanese exporters, those profits are being offset by slowing demand […]

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Ford’s Profits in Latin America Wiped Out as Venezuela Devalues Currency by 44% http://www.thetruthaboutcars.com/2013/12/fords-profits-in-latin-america-wiped-out-as-venezuela-devalues-currency-by-44/ http://www.thetruthaboutcars.com/2013/12/fords-profits-in-latin-america-wiped-out-as-venezuela-devalues-currency-by-44/#comments Mon, 30 Dec 2013 13:00:37 +0000 http://www.thetruthaboutcars.com/?p=689226 Ford Motor Company announced last week that instead of making money in Latin America this year, it will likely lose $350 million in the region because the government of Venezuela devalued its currency, the bolivar, by 44%. Ford is currently holding more than $700 million in bolivars that it cannot exchange or repatriate. The Venezuelan […]

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Ford Motor Company announced last week that instead of making money in Latin America this year, it will likely lose $350 million in the region because the government of Venezuela devalued its currency, the bolivar, by 44%. Ford is currently holding more than $700 million in bolivars that it cannot exchange or repatriate. The Venezuelan […]

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Detroit News Declares Japanese Price War, Needs New Calculator http://www.thetruthaboutcars.com/2013/06/detroit-news-declares-japanese-price-war-needs-new-calculator/ http://www.thetruthaboutcars.com/2013/06/detroit-news-declares-japanese-price-war-needs-new-calculator/#comments Thu, 20 Jun 2013 12:20:51 +0000 http://www.thetruthaboutcars.com/?p=492747 Yesterday, the Detroit News warned of a sneak attack by the Japanese on the U.S. auto market: “Nissan Motor Co.’s take-no-prisoners approach to gaining U.S. market share has the auto industry worried that a price war is brewing that will erode the profit progress made since the recession ravaged auto sales.” According to the Detroit […]

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Yesterday, the Detroit News warned of a sneak attack by the Japanese on the U.S. auto market: “Nissan Motor Co.’s take-no-prisoners approach to gaining U.S. market share has the auto industry worried that a price war is brewing that will erode the profit progress made since the recession ravaged auto sales.” According to the Detroit […]

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Toyota USA Looking To Go Import-Free? http://www.thetruthaboutcars.com/2013/01/toyota-usa-looking-to-go-import-free/ http://www.thetruthaboutcars.com/2013/01/toyota-usa-looking-to-go-import-free/#comments Mon, 21 Jan 2013 14:00:07 +0000 http://www.thetruthaboutcars.com/?p=474451 The inevitable march to American-made “imports” continues, as one Toyota official recently declared his desire to see every single Toyota sold in America to be a made-in-USA product. Although Toyota currently makes about 70 percent of its Stateside product domestically, Bill Fay, Vice President and General Manager of the company’s American arm, said he’d ideally […]

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The inevitable march to American-made “imports” continues, as one Toyota official recently declared his desire to see every single Toyota sold in America to be a made-in-USA product. Although Toyota currently makes about 70 percent of its Stateside product domestically, Bill Fay, Vice President and General Manager of the company’s American arm, said he’d ideally […]

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Are You Ready For: An American Volvo? http://www.thetruthaboutcars.com/2011/09/are-you-ready-for-an-american-volvo/ http://www.thetruthaboutcars.com/2011/09/are-you-ready-for-an-american-volvo/#comments Tue, 13 Sep 2011 16:01:30 +0000 http://www.thetruthaboutcars.com/?p=411119 The national character of auto brands is a tricky thing. For decades, Volvo wore its Swedishness on its sleeve, emphasizing the values that made Ikea, Abba and Swedish porn so popular in the US… even when it was an outpost of the Ford empire. And then the unthinkable happened: Chinese up-and-comer Li Shufu bought the […]

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The national character of auto brands is a tricky thing. For decades, Volvo wore its Swedishness on its sleeve, emphasizing the values that made Ikea, Abba and Swedish porn so popular in the US… even when it was an outpost of the Ford empire. And then the unthinkable happened: Chinese up-and-comer Li Shufu bought the […]

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Will Rising Euro Push Alfa/Jeep Compact CUV Production To Toledo? http://www.thetruthaboutcars.com/2011/08/rising-euro-push-liberty-toledo/ http://www.thetruthaboutcars.com/2011/08/rising-euro-push-liberty-toledo/#comments Wed, 31 Aug 2011 14:46:08 +0000 http://www.thetruthaboutcars.com/?p=409605 Bloomberg reports that Fiat is considering moving production of planned Alfa/Jeep-branded compact CUVs from its Italian Mirafiori plant to the US, as a rising Euro forces tough production choices. Production of some 280,000 units per year were planned to start at Mirafiori in late 2012, but Fiat may now build an as-yet unannounced subcompact there […]

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Bloomberg reports that Fiat is considering moving production of planned Alfa/Jeep-branded compact CUVs from its Italian Mirafiori plant to the US, as a rising Euro forces tough production choices. Production of some 280,000 units per year were planned to start at Mirafiori in late 2012, but Fiat may now build an as-yet unannounced subcompact there […]

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Japanese Automakers: Sayonara, Japan http://www.thetruthaboutcars.com/2011/07/japanese-automakers-sayonara-japan/ http://www.thetruthaboutcars.com/2011/07/japanese-automakers-sayonara-japan/#comments Mon, 04 Jul 2011 12:55:22 +0000 http://www.thetruthaboutcars.com/?p=401537 Japanese automakers will move their production elsewhere if the yen keeps rising. This is what Toshiyuki Shiga, chairman of the Japan Automobile Manufacturers Association, told The Nikkei [sub] in a very blunt interview.  Shiga, who is also the COO of Nissan, said that power shortfalls and the strong yen are the biggest impediment to Japan’s […]

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Japanese automakers will move their production elsewhere if the yen keeps rising. This is what Toshiyuki Shiga, chairman of the Japan Automobile Manufacturers Association, told The Nikkei [sub] in a very blunt interview.  Shiga, who is also the COO of Nissan, said that power shortfalls and the strong yen are the biggest impediment to Japan’s […]

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Japanese Automakers And Unions To Government: Lower Then Yen, Or We are Out Of Here http://www.thetruthaboutcars.com/2011/06/japanese-automakers-and-unions-to-government-lower-then-yen-or-we-are-out-of-here/ http://www.thetruthaboutcars.com/2011/06/japanese-automakers-and-unions-to-government-lower-then-yen-or-we-are-out-of-here/#comments Thu, 09 Jun 2011 14:20:49 +0000 http://www.thetruthaboutcars.com/?p=397939 In an (especially for Japanese tastes) strongly worded joint statement, Toshiyuki Shiga. Chairman of  Japan Automobile Manufacturers Association, and Koichiro Nishihara, President of the Confederation of Japan Automobile Workers’ Unions threw down the gauntlet to the Japanese government. Executive summary: “We are sick as hell of the high yen and we can’t take it anymore. […]

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In an (especially for Japanese tastes) strongly worded joint statement, Toshiyuki Shiga. Chairman of  Japan Automobile Manufacturers Association, and Koichiro Nishihara, President of the Confederation of Japan Automobile Workers’ Unions threw down the gauntlet to the Japanese government. Executive summary: “We are sick as hell of the high yen and we can’t take it anymore. […]

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Toyota To Japanese Government: If The Yen Gets Any Stronger, We Go http://www.thetruthaboutcars.com/2010/11/toyota-to-japanese-government-if-the-yen-gets-any-stronger-we-go/ http://www.thetruthaboutcars.com/2010/11/toyota-to-japanese-government-if-the-yen-gets-any-stronger-we-go/#comments Sat, 06 Nov 2010 12:50:15 +0000 http://www.thetruthaboutcars.com/?p=371643 Despite the riproaring profit numbers, there is trouble in Toyota City. The ever appreciating yen is gobbling up ToMoCo’s profits. Message from Toyota to the Japanese government: “Do something, or we leave.” Reports The Nikkei [sub]: “In comments that appeared to be aimed at Japanese currency authorities, Satoshi Ozawa, Toyota’s chief financial officer, said the […]

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Despite the riproaring profit numbers, there is trouble in Toyota City. The ever appreciating yen is gobbling up ToMoCo’s profits. Message from Toyota to the Japanese government: “Do something, or we leave.” Reports The Nikkei [sub]: “In comments that appeared to be aimed at Japanese currency authorities, Satoshi Ozawa, Toyota’s chief financial officer, said the […]

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Despite Currency Woes, Hyundai Earned $1.2b In The First Three Quarters Of 2010 http://www.thetruthaboutcars.com/2010/10/despite-currency-woes-hyundai-earned-1-2b-in-the-first-three-quarters-of-2010/ http://www.thetruthaboutcars.com/2010/10/despite-currency-woes-hyundai-earned-1-2b-in-the-first-three-quarters-of-2010/#comments Thu, 28 Oct 2010 17:14:46 +0000 http://www.thetruthaboutcars.com/?p=370606 Although the Korean Won has stayed strong this year, hurting the profitability of Korean exports, Hyundai has banked $1.2b in profits in the first three quarters of 2010, reports Automotive News [sub]. Analysts had expected the resurgent automaker to earn closer to $1b in profits, but they say that an even stronger Yen has helped […]

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Although the Korean Won has stayed strong this year, hurting the profitability of Korean exports, Hyundai has banked $1.2b in profits in the first three quarters of 2010, reports Automotive News [sub]. Analysts had expected the resurgent automaker to earn closer to $1b in profits, but they say that an even stronger Yen has helped […]

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Japanese Automakers To Japanese Government: Want More Jobless? No Problem, We Can Deliver http://www.thetruthaboutcars.com/2010/10/japanese-automakers-to-japanese-government-want-more-jobless-no-problem-we-can-deliver/ http://www.thetruthaboutcars.com/2010/10/japanese-automakers-to-japanese-government-want-more-jobless-no-problem-we-can-deliver/#comments Tue, 19 Oct 2010 13:48:37 +0000 http://www.thetruthaboutcars.com/?p=369368 Did we mention that there is a steady drumbeat by Japanese companies that openly think about, or deny (with huge qualifications) moving more and more production outside of Japan? Did we imply that a lot of this noisy thinking might be targeted at the current Japanese administration with which the carmakers are as much at […]

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Did we mention that there is a steady drumbeat by Japanese companies that openly think about, or deny (with huge qualifications) moving more and more production outside of Japan? Did we imply that a lot of this noisy thinking might be targeted at the current Japanese administration with which the carmakers are as much at […]

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Will Toyota Leave Japan? http://www.thetruthaboutcars.com/2010/10/will-toyota-leave-japan/ http://www.thetruthaboutcars.com/2010/10/will-toyota-leave-japan/#comments Mon, 18 Oct 2010 09:25:55 +0000 http://www.thetruthaboutcars.com/?p=369223 For a while, TTAC has been tracking a strange story: Instead of exporting cars, Japanese carmakers (or should we call them factorymakers?) increasingly resort to exporting car factories. The higher and higher yen makes exports prohibitively expensive. On the other hand, a higher and higher yen buys more and more production capacity abroad. From Nissan […]

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For a while, TTAC has been tracking a strange story: Instead of exporting cars, Japanese carmakers (or should we call them factorymakers?) increasingly resort to exporting car factories. The higher and higher yen makes exports prohibitively expensive. On the other hand, a higher and higher yen buys more and more production capacity abroad. From Nissan […]

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Toyota Mulling The End Of The Japanese Corolla http://www.thetruthaboutcars.com/2010/10/toyota-mulling-the-end-of-the-japanese-corolla/ http://www.thetruthaboutcars.com/2010/10/toyota-mulling-the-end-of-the-japanese-corolla/#comments Thu, 14 Oct 2010 15:04:24 +0000 http://www.thetruthaboutcars.com/?p=368638 A report in Japan’s Kyodo news agency [via Reuters/Automotive News [sub]] must have raised a few eyebrows in Japan: thanks to a rising Yen, Toyota is reportedly eying an end to Corolla exports from Japan by 2013. Toyota has since emphasized that it has made no decision to halt production in Japan of its Corolla […]

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A report in Japan’s Kyodo news agency [via Reuters/Automotive News [sub]] must have raised a few eyebrows in Japan: thanks to a rising Yen, Toyota is reportedly eying an end to Corolla exports from Japan by 2013. Toyota has since emphasized that it has made no decision to halt production in Japan of its Corolla […]

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Toyota Saying Sayonara To Japanese Production? http://www.thetruthaboutcars.com/2010/09/toyota-saying-sayonara-to-japanese-production/ http://www.thetruthaboutcars.com/2010/09/toyota-saying-sayonara-to-japanese-production/#comments Sat, 04 Sep 2010 14:45:16 +0000 http://www.thetruthaboutcars.com/?p=364755 The ever rising yen makes Japanese manufacturers flirt with the idea of abandoning the land of the rising sun and to shift production abroad. Toyota President Akio Toyoda told Asahi Shimbun that Toyota wants to keep building cars in Japan — for domestic sales. Even that is up for discussion. “The current situation is very […]

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The ever rising yen makes Japanese manufacturers flirt with the idea of abandoning the land of the rising sun and to shift production abroad. Toyota President Akio Toyoda told Asahi Shimbun that Toyota wants to keep building cars in Japan — for domestic sales. Even that is up for discussion. “The current situation is very […]

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Yen Strengthens, Mazda Freaks http://www.thetruthaboutcars.com/2010/09/yen-strengthens-mazda-freaks/ http://www.thetruthaboutcars.com/2010/09/yen-strengthens-mazda-freaks/#comments Sat, 04 Sep 2010 13:32:52 +0000 http://www.thetruthaboutcars.com/?p=364743 You know who is really freaked about the stronger and stronger Japanese yen? Mazda. Mazda is considered the Japanese manufacturer with the highest exposure to currency swings. Mazda builds 70 percent of its vehicles in Japan. In the first half of 2010, Mazda exported nearly 80 percent of its Japanese output. Ouch. A year ago, […]

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You know who is really freaked about the stronger and stronger Japanese yen? Mazda. Mazda is considered the Japanese manufacturer with the highest exposure to currency swings. Mazda builds 70 percent of its vehicles in Japan. In the first half of 2010, Mazda exported nearly 80 percent of its Japanese output. Ouch. A year ago, […]

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Japanese Carmakers Below Invoice! Buy Now? http://www.thetruthaboutcars.com/2010/08/japanese-carmakers-below-invoice-buy-now/ http://www.thetruthaboutcars.com/2010/08/japanese-carmakers-below-invoice-buy-now/#comments Wed, 25 Aug 2010 11:54:16 +0000 http://www.thetruthaboutcars.com/?p=363766 Psssst! Want to buy Japanese car makers below book value? Now is the time. Spooked by the strong Japanese Yen, stocks of export-heavy Japanese automakers such as Toyota and Suzuki can be had for less than the assets on the books. Toyota can be bought at a price to book ratio of  0.99. Suzuki is […]

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Psssst! Want to buy Japanese car makers below book value? Now is the time. Spooked by the strong Japanese Yen, stocks of export-heavy Japanese automakers such as Toyota and Suzuki can be had for less than the assets on the books. Toyota can be bought at a price to book ratio of  0.99. Suzuki is […]

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Japanese Car Makers Worried About Sumo-Sized Yen http://www.thetruthaboutcars.com/2010/07/japanese-car-makers-worried-about-sumo-sized-yen/ http://www.thetruthaboutcars.com/2010/07/japanese-car-makers-worried-about-sumo-sized-yen/#comments Wed, 07 Jul 2010 12:28:01 +0000 http://www.thetruthaboutcars.com/?p=360379 There was a time, in summer of 2007, when a dollar bought more than 120 yen. Once you arrived in Tokyo, you quickly wished it would have bought more. Now, the dollar buys about a third less. The dollar/yen rate had been at a downward trajectory since that summer of 2007. What made the yen […]

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There was a time, in summer of 2007, when a dollar bought more than 120 yen. Once you arrived in Tokyo, you quickly wished it would have bought more. Now, the dollar buys about a third less. The dollar/yen rate had been at a downward trajectory since that summer of 2007. What made the yen […]

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China: Higher Wages, Higher Currency, Higher Automation http://www.thetruthaboutcars.com/2010/06/china-higher-wages-higher-currency-higher-automation/ http://www.thetruthaboutcars.com/2010/06/china-higher-wages-higher-currency-higher-automation/#comments Tue, 22 Jun 2010 11:19:22 +0000 http://www.thetruthaboutcars.com/?p=359285 In another case of unthought-through consequences, the cheered-on push for a stronger Chinese currency and higher wages strengthens the competitiveness and quality of Chinese products through increased automation of assembly lines. Bloomberg reports that Nissan, together with the joint venture partner Dongfeng, is building a 5 billion yuan ($732m) plant in Guangzhou with the newest […]

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In another case of unthought-through consequences, the cheered-on push for a stronger Chinese currency and higher wages strengthens the competitiveness and quality of Chinese products through increased automation of assembly lines. Bloomberg reports that Nissan, together with the joint venture partner Dongfeng, is building a 5 billion yuan ($732m) plant in Guangzhou with the newest […]

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Strong Yen Drives Japanese Auto Makers Out Of The Country http://www.thetruthaboutcars.com/2010/05/strong-yen-drives-japanese-auto-makers-out-of-the-country/ http://www.thetruthaboutcars.com/2010/05/strong-yen-drives-japanese-auto-makers-out-of-the-country/#comments Sat, 01 May 2010 17:37:25 +0000 http://www.thetruthaboutcars.com/?p=354916 If anybody will again blather about a “weak yen” that has been “manipulated by the Japanese government,” then I’ll personally come visit, with the intent to insert a sock in the mouth. For reasons explicable only to forex mavens, the currency of the economic basked case Japan keeps on getting stronger. Japan’s car manufacturers think […]

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If anybody will again blather about a “weak yen” that has been “manipulated by the Japanese government,” then I’ll personally come visit, with the intent to insert a sock in the mouth. For reasons explicable only to forex mavens, the currency of the economic basked case Japan keeps on getting stronger. Japan’s car manufacturers think […]

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China’s Dongfeng On The Prowl For Western Beauties http://www.thetruthaboutcars.com/2010/04/china%e2%80%99s-dongfeng-on-the-prowl-for-western-beauties/ http://www.thetruthaboutcars.com/2010/04/china%e2%80%99s-dongfeng-on-the-prowl-for-western-beauties/#comments Wed, 14 Apr 2010 14:45:27 +0000 http://www.thetruthaboutcars.com/?p=352455 Western auto makers in distress are in the cross-hairs of Chinese auto makers that are riding one of the largest car booms in history. When Geely closed its deal with Ford over Volvo, we wrote: “Government owned companies like FAW, SAIC, Dongfeng, or BAIC will watch closely how privately owned Geely will digest the Volvo […]

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Western auto makers in distress are in the cross-hairs of Chinese auto makers that are riding one of the largest car booms in history. When Geely closed its deal with Ford over Volvo, we wrote: “Government owned companies like FAW, SAIC, Dongfeng, or BAIC will watch closely how privately owned Geely will digest the Volvo […]

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Toyota Restarts Plant Contruction As Currency Worries Outweigh Falling Demand http://www.thetruthaboutcars.com/2009/12/toyota-restarts-plant-contruction-as-currency-worries-outweigh-falling-demand/ http://www.thetruthaboutcars.com/2009/12/toyota-restarts-plant-contruction-as-currency-worries-outweigh-falling-demand/#comments Mon, 07 Dec 2009 19:25:55 +0000 http://www.thetruthaboutcars.com/?p=338423 Asiaone Motoring reports that Toyota are now pushing forward on their constructions of plants in the United States and China which had previously been put on hold. It should come as no surprise that part of the reasoning behind this decision is to meet growing demand in China. More importantly, Toyota needs to protect itself […]

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Asiaone Motoring reports that Toyota are now pushing forward on their constructions of plants in the United States and China which had previously been put on hold. It should come as no surprise that part of the reasoning behind this decision is to meet growing demand in China. More importantly, Toyota needs to protect itself […]

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