Global Auto Sales For Japan's Big Three Implode
Toyota's global production for February -50%
Toyota's Japanese sales -56%
Honda's global production for February -43%
Honda's Japanese sales -48%
Nissan's global production for February -51%
Nissan's Japanese sales -69%
When the yammerers were all pointing to the success of Toyota, Honda, Nissan and others, we wrote that Toyota was likely in trouble and before this crisis passed all major global automakers would likely be bailed out. Toyota, Honda and Nissan have already gone to the Japanese government for bailouts. All three companies are effectively bankrupt. It's just a matter of time. They will surely survive but it will likely be without much of the capacity they developed in emerging markets. We have never wavered in our dislike of emerging markets. And, regardless of the clueless seeking to remount that ride our position will not change.
Remember, we wrote that the yammerers telling us we should let GM, Ford and Chrysler fail were utterly clueless. That this crisis was not a failure of management. No one has been more critical of failed American auto management over the years than I have. I even saw someone using Schumpeter's creative destruction to justify the rationale of allowing these companies to fail. As I wrote, that is ridiculous. Creative destruction involves the replacement of an industry or product with a new product. Schumpeter was clear in stating the new product must exist before the destruction. Minor problem. What's the new product? Donkeys? Camels?
So, I guess the Japanese government should also let Toyota, Honda and Nissan fail for being fiscally irresponsible? These are three of the best managed companies on earth. Where do these blabbering bullshitters come from? Let's just let the whole damn world fail. Then we can all live in caves and forage for grubs with sticks in our new economic model. Then those advocating such ridiculous positions can write their brilliance on stone tablets and stand on boulders to scream that they were right. It's not a wonder our economy is in shambles. We listen to idiots.
A government controlled bankruptcy reorganization was what we thought should happen. That's probably where we are headed anyway.
Toyota's Japanese sales -56%
Honda's global production for February -43%
Honda's Japanese sales -48%
Nissan's global production for February -51%
Nissan's Japanese sales -69%
When the yammerers were all pointing to the success of Toyota, Honda, Nissan and others, we wrote that Toyota was likely in trouble and before this crisis passed all major global automakers would likely be bailed out. Toyota, Honda and Nissan have already gone to the Japanese government for bailouts. All three companies are effectively bankrupt. It's just a matter of time. They will surely survive but it will likely be without much of the capacity they developed in emerging markets. We have never wavered in our dislike of emerging markets. And, regardless of the clueless seeking to remount that ride our position will not change.
Remember, we wrote that the yammerers telling us we should let GM, Ford and Chrysler fail were utterly clueless. That this crisis was not a failure of management. No one has been more critical of failed American auto management over the years than I have. I even saw someone using Schumpeter's creative destruction to justify the rationale of allowing these companies to fail. As I wrote, that is ridiculous. Creative destruction involves the replacement of an industry or product with a new product. Schumpeter was clear in stating the new product must exist before the destruction. Minor problem. What's the new product? Donkeys? Camels?
So, I guess the Japanese government should also let Toyota, Honda and Nissan fail for being fiscally irresponsible? These are three of the best managed companies on earth. Where do these blabbering bullshitters come from? Let's just let the whole damn world fail. Then we can all live in caves and forage for grubs with sticks in our new economic model. Then those advocating such ridiculous positions can write their brilliance on stone tablets and stand on boulders to scream that they were right. It's not a wonder our economy is in shambles. We listen to idiots.
A government controlled bankruptcy reorganization was what we thought should happen. That's probably where we are headed anyway.
<< Home