Looks like Toyota and Honda are going out of business.
They sell over 11 million cars a year.
both the Honda and Toyota CEOs have said they can’t compete, as has the Ford CEO. Toyota will likely survive, Honda’s car division, probably not. Ford needs protection to survive, depends how long US citizens want to prop them up
https://moneywise.com/auto/auto/toyota-honda-ford-ceos-warning-china-portfolio
And, a recent tour of one of the Asian powerhouse’s vehicle plants has proved this beyond a shadow of a doubt, at least to Honda President and CEO Toshihiro Mibe.
“We have no chance against this,” Mibe said (9) upon a visit to a Shanghai parts factory, commenting on its seamless automation across all levels of production. Logistics, procurement and all aspects of the process were so automated, in fact, that he did not spot a single human worker on the supplier’s floor.
They didn’t say this century, sheesh.
They do for now. They’ve doubled down on sticking to outdated technology rather than switching to EVs, which will likely be fatal for the companies in the long term.
Happy cake day!
