Exchange-rate crisis - Dodge Nitro Forum
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post #1 of 1 (permalink) Old 10-27-2010, 10:46 AM Thread Starter
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Exchange-rate crisis

EXCHANGE-RATE CRISIS

10/27/2010

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Japanese automakers are in a full-blown crisis. They are getting hammered by the strength of the Japanese yen. The dollar is down to near-record lows, only 80 yen to the dollar. Nissan says that every one-yen increase against the dollar shaves nearly $190 million off its profits. Of course, it wasn’t that long ago when the yen was going in the other direction and Japanese automakers were racking up record profits. I remember back in the early ’80s when the yen was at 225 to the dollar and American automakers were at a massive cost disadvantage. In fact, for the better part of 30 years Japanese automakers have enjoyed a currency advantage, so now they’re about to experience what GM, Ford and Chrysler have been up against for decades.


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