Honda Executive Denies That Japan Move To Weaken Yen Will Help Automakers

A Honda executive rejected suggestions that Japanese automakers have gained an edge on U.S. companies as Japan moves to weaken the yen to spur economic growth.

John Mendel, executive vice president of automotive sales for American Honda Motor Co., said the Japanese policies are “certainly not” an advantage for Honda.

“I don’t think the current level of 90-plus yen to the dollar is cause for alarm,” he said at the J.D. Power & Associates International Automotive Roundtable.

A weaker yen makes Japanese production cheaper and boosts profitability for vehicles exported to the U.S.

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HughJass - 2/8/2013 6:01:29 PM

+1 Boost

That's right, focus on the bad little Asians and ignore the good little ones. Damn, is it so easy to buy our loyalty?

We should tank the USD and ignore them both and start exporting our stuff to them, that is if our education system produced kids intelligent enough to actually do some of the high tech work we need.

HughJass - 2/8/2013 7:39:09 PM

+2 Boost

But it allows them to sell for a lower US price because a weaker Yen lets them bring the same amount of Yen back for less US dollars. It works like a charm for the Koreans and their toilet paper currency.

I doubt the Japs will be lowering prices though, they don't need to. Their cars sell themselves, no discounts or ghost subsidies from their government needed.