|
|
Article: Business Briefs
- Article from:
- Daily Breeze
- Article date:
- April 8, 2009
CopyrightCopyright 2009 Daily Breeze. Provided by ProQuest LLC. (Hide copyright information)
|
TOYOTA
Carmaker has contingency plans for parts
NEW YORK - A top Toyota executive said Wednesday the automaker's
U.S. operations are prepared to deal with the effects of a possible
bankruptcy filing by rival General Motors Corp.
Jim Lentz, president of Torrance-based Toyota Motor Sales USA,
the carmaker's U.S. sales headquarters, said the company's U.S.
factories share about two-thirds of their 500 major auto parts
suppliers with the Detroit Three automakers. Of that group, about 10
are in "critical need" of cash.
GM has recently said it may file for bankruptcy protection as
part of its restructuring plan. Analysts and industry insiders have
expressed fear that a bankruptcy among a ...