On the face of it, Toyota Motor Corp.'s (NYSE ADR: TM) recall of more than 8 million vehicles appears to be a serious-yet-simple matter of a carmaker facing up to a long list of manufacturing errors. But an in-depth examination of the case reveals a much deeper cultural disconnect.
Like two people from two distinctly different cultures who find themselves locked in an uneasy marriage, the U.S. consumer and Toyota management are suffering from a failure to communicate.
And unless Toyota very quickly makes an all-out effort to close the communications gap, the Japan-based carmaker could find itself relegated to also-ran status, says Keith Fitz-Gerald, a recognized expert on Asian business who is also the chief investment strategist for Money Morning and The Money Map Report.
By Jason SimpkinsManaging EditorMoney Morning U.S. companies that make and supply auto-parts to major carmakers could seek as much as $25.5 billion in government aid, the Motor & Equipment Manufacturers Association (MEMA) said in a statement. "We have had constructive conversations with Treasury and elected officials in Washington, but no official request has been submitted […]