I’d be glad to buy a US car if I knew that it were equal or better in quality (performance, cost, endurance over the years: cost-effectiveness) compared to a car from a foreign-owned company.
I’ve seen news reports, that some US companies have transferred manufacturing work overseas, to reduce costs, and to avoid the need to meet union requirements… thus depriving some US citizens of jobs (both manufacturing jobs, and resulting “supporting” industries – restaurants, groceries other services, etc. in surrounding neighborhoods).
I know also that many foreign-owned car companies have car-manufacturing facilities in the US – a Toyota plant near Georgetown, KY being just one example.
Therefore, when purchasing a car, the choice of a US-owned company versus a foreign-owned company may come down as much to whose owners get the money: the US owners, or the foreign owners.
Is there another advantage to buying a car from a US-owned company?
Yes, there are some great deal on some very good American cars.
News Update: Toyota Motor (NYSE:TM) Suspends Production at Two Plants to Offset Recall
Uploaded by TradeTheTrend on Feb 16, 2010
In order to offset its round of recalls and avoid ballooning of inventories, Toyota Motor (NYSE:TM) announced that it was idling two plans in the United States.
The company said it was suspending production at its truck plant in San Antonio for two weeks and scheduled one day of halted production at its plan in Georgetown Kentucky.
In addition, the world’s largest automaker is facing a number of class-action lawsuits, which a law professor told the Financial Times, could wind up costing the carmaker $3.6 billion, based on an average loss of $600 per vehicle.
Toyota Motor is trading 1.5% lower Tuesday to $75.95 on the news.