Honda, Nissan, Toyota, Mitsubishi, and Mazda Reveal 1997 Plans

01/02/97

Comline reports that the five big Japanese automakers (Toyota, Nissan, Mitsubishi, Honda, and Mazda) all announced their plans for 1997 at a single press conference on Dec. 20. Honda, which had much success with its new 1996 releases, set a sales goal of 800,000, the same target that Japan's number three automaker Mitsubishi set for itself.

Due to the evening out of exchange rates, all of Japan's automakers expect their exports to grow. The automakers expressed concern that a 5% hike in Japan's consumption tax (due to take effect in April) would slow further economic progress. The automakers are also worried about economic conditions in the U.S. and Europe, which could raise competition domestically and overseas.

Paul Dever -- The Auto Channel