Motor show opens with car firms facing triple whammy
News On Japan via Japan Times -- Nov 30
The Tokyo Motor Show kicks off Saturday amid a variety of challenges facing the automobile industry, including intensifying global competition, the yen's historic surge and supply disruptions caused by natural disasters.
For Japanese automakers, emerging rivals in South Korea and other Asian countries have joined the ranks of long-standing competitors such as General Motors of the U.S. and Volkswagen AG of Germany.
The yen's record rise has also cut into repatriated profits and eroded Japanese makers' competitiveness overseas.
Experts agree that Hyundai Motor Co.'s growth stands out among Asian rivals.
Japan's No. 1, Toyota Motor Corp., produced more than 8 million units in 2010, but yielded to GM, which marked a rapid recovery from a collapse in 2009, as the biggest global automaker for the first time in four years.
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