Speaking of GM, the Wall Street Journal claims that Toyota is “fast on its way to challenging General Motors as the world’s biggest car maker.” GM’s CEO Rick Wagoner, as I recall, recently said that his market research clearly supported More & More SUVs, because consumers weren’t fazed by gas prices. On the other hand, the Journal article (07.13) I just cited says the cornerstone of Toyota’s “Beat GM” strategy is … Hybrids! New president, Katsuaki Watanabe, is quoted as saying that hybrid technology “is now a core technology.” The U.S. car industry went into eclipse 30 years ago when, after the first Oil Shock, it missed the small car surge. History seems inexcusably to be repeating itself. I guess Wagoner will have to pray that his “give away the cars” marketing ploy will carry the day for his junk-bond rated firm.
What a bunch of bozos! (Lutz excepted—see above.)