104
‘We will not survive’: Toyota, Honda and Ford CEOs issue chilling warning about China — and it could hit your portfolio (moneywise.com)
submitted 4 months ago by to c/world@quokk.au
36 comments fedilink hide all child comments
 

cross-posted from : https://lemmy.zip/post/63264799

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 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.

Ford executives saying even three years ago that China was way ahead of the game

Toyota's CEO has likewise said regarding not just his company, but the industry in general, "unless things change, we will not survive"

you are viewing a single comment's thread
view the rest of the comments
[–] 2 points 4 months ago

Especially when they are using cash for stock buybacks and dividends. For decades they favored share holders over development and employees. Hopefully the employees get help if these companies really can't compete. But Ford had billions in positive cash flow last year, so maybe this is all just crying wolf right now.

  • permalink
  • fedilink
  • source
  • parent