Weak Yen Fueling Toyota's Rise in America

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Detroit, Jul 13, 2007 - The Detroit News ran a front page story today on how Japan's currency manipulation is helping foreign auto companies like Toyota grab market share from GM, Ford and Chrysler.

Congressman Knollenberg has introduced legislation, along with Senator Debbie Stabenow, to confront Japan on its unfair currency manipulation and the unfair subsidies it provides to Toyota, Honda and Nissan vehicles exported to the United States. The Knollenberg bill is one of the top trade priorities for the American auto companies this year.

Congressman Knollenberg is using money from his frank account to raise awarenes in his district about the unfair advantage that Toyota has over GM. GM and the other Detroit automakers are being unfairly attacked in Washington during the debate over energy independence. Uninformed politicians from the east and west coast are wrongly attacking the Big Three. The American car companies make great products and can compete against anyone, anywhere  when the rules are fair. Currency rigging by Japan provides a huge disadvantage to the Big Three. It, along with huge legacy costs, explain why GM beats Toyota on sales in 12 out  of 15 global markets, but is losing ground in America.