Technology is key, Toyota exec says |
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Tue, 17 Apr 2007 20:26
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DETROIT (AP) - Despite short-term challenges, the global auto industry is well-positioned for long-term growth, Toyota North America President Jim Press said Tuesday, less than a week after being named the first non-Japanese member of the company's board.Press, 60, was named to the board on Thursday amid growing fears of a political backlash for the company's booming U.S. sales. The move was the latest step in Toyota Motor Corp.'s efforts to bolster its international standing. It also comes at a time when Toyota is boosting sales in North America, grabbing market share away from Detroit automakers.Press said Tuesday that Detroit, as the heart of the U.S. auto industry, remains a key player in the present and future of global automaking.Press, who spoke at a luncheon where he was honored as automotive executive of the year, said Detroit remains the epicenter for the kinds of 'technological solutions' needed to solve the industry's long-term challenges, including global warming, safety and energy security.'There is no reinvention in Detroit,' he told a crowd of mostly industry leaders. 'What Detroit needs to do is to continue to have faith in itself.'It isn't reinvention that is necessary. It's to go through this process of entering a global age. And that's going to give us some heartburn in the short term, but from a long-term perspective, it gives us a lifetime of success and prosperity.'Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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February auto sales: Toyota 