Tuesday, November 2, 2004
Bloomberg
Toyota, Honda Invest in New Cars, Take More Sales From GM, Ford
Toyota, Nissan and Honda are winning a growing share of global auto and truck sales, using their cash, more efficient manufacturing and lower pension and health-care costs to speed gains in Europe, North America and China.
Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co., Japan's three biggest auto companies, also are making money on selling cars. General Motors Corp. and Ford Co., the world's largest and third-largest auto producers, are relying on loans and leases to make up for losses on cars.
"The Japanese are gaining market share everywhere,'' said Peter Boardman, an analyst with Los Angeles-based NWQ Investment Management, which manages about $14 billion. "That's been because of gains in North America, but now they're also growing in Europe.''
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