Quote:
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The report projects that profits for Ford, GM and Chrysler would increase by a combined total of $3 billion a year from selling more-efficient vehicles, while Japanese auto companies' collective profits from U.S. sales would rise by just $800 million a year. That's because the Japanese already sell fairly efficient autos and wouldn't see as much of a sales volume gain as would the U.S. automakers.
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So there must have been a clear reason why GM management chose to leave that much money on the table.
It's almost as if the big 3's stocks were largely owned by big oil. Oh wait...
And why did McManus suddenly 'come clean?' Did his retainer run out?
I can also see why companies like Toyota opposed raising CAFE standards. It would reduce a large competitive advantage they hold over Detroit.