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Industry: Email Alert RSS FeedYen causes turmoil - International Trends - Treatens economic recovery in the U.S> - Brief Article
Automotive Industries, March, 2002 by Andrea Wielgat
TOKYO -- Japan's weakened yen is increasing local automakers' profits but threatening economic recovery in the U.S., say U.S. automakers. Executives from Ford Motor Co., General Motors Corp. and Daimler Chrysler AG have asked President Bush to appeal to Japan's government to stop weakening the yen.
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They say the Japanese government is attempting to stimulate its troubled economy by increasing the profits of local OEMs who now have a 30 percent profit advantage on vehicles that are sold in the U.S.
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COPYRIGHT 2002 Gale Group
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