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Toyota Needs A Bailout

Toyota announced today that it would close all its Japan-based plants for 11 days later this month. This comes on top of an already announced three day shut down. Remember, this is Toyota, whose fuel-efficient vehicles and non-union contracts were supposed to save it from the problems hitting the rest..

Morgan Clendaniel
By Morgan ClendanielJan 08, 2009
Morgan Clendaniel
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Toyota announced today that it would close all its Japan-based plants for 11 days later this month. This comes on top of an already announced three day shut down. Remember, this is Toyota, whose fuel-efficient vehicles and non-union contracts were supposed to save it from the problems hitting the rest of the auto industry. Turns out, Toyota's sales are down in December (as compared to December, 2007) more than G.M's or Ford's were in the same period, closing in on a nearly 40 percent decline. Only Chrysler, which had a sales decrease of 52 percent, fared worse. What could be the cause of this? Doesn't everyone want a Prius in these trying times, as opposed to a gas-guzzling, shoddily made American behemoth? Maybe people are buying American in a patriotic attempt to save the U.S. auto industry? But if Toyota fails, where will we get our hip, fuel efficient vehicles?

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