Bailout Watch 569: Toyota Could Still Apply For Retooling Loans

Edward Niedermeyer
by Edward Niedermeyer

An Automotive News [sub] piece on Toyota’s efforts to rethink its North American manufacturing strategy reveals Toyota NA President Yoshimi Inaba’s potential willingness to apply for US retooling loans. Though Inaba states that the Obama administration would not play a “material” role in Toyota’s return to profitability, he refused to rule out applying for Department of Energy retooling loans. Nissan has already secured $1.6b worth of the so-called “136 loans,” and is moving away from its current strategy of sourcing hybrid components from Toyota, according to Reuters. And whether it takes money from the government or not, Toyota is sounding the same PR notes as its recently-rescued competitors. “Our sense has been always that we listen to the market, we listen to customers, we listen to the dealer. That element is a little bit lost,” admits Inaba in the WSJ. Inaba also concedes that Ford is better positioned to exploit GM and Chrysler’s bankruptcy-bailouts, adding that “we certainly want a good chunk of it. As the dust settles down a little bit we would also like to go after any incremental volume.”

Edward Niedermeyer
Edward Niedermeyer

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  • PeteMoran PeteMoran on Jul 21, 2009

    And why not, they're an active and valuable employer in the US, more likely to deliver a sustainable (business wise) result.

  • Psarhjinian Psarhjinian on Jul 21, 2009

    @PeteMoran Agreed. This could, perhaps, be NUMMI's saviour.