Morgan Stanley: Foreign Auto Manufactures Do A Better Job

Stephen Girsky, managing director at Morgan Stanley Dean Witter told an industry audience here in Traverse City that foreign automakers are doing a better job of producing vehicles the public wants and are making more money per vehicle than U.S. car companies. Girsky a leading analyst told an his industry conference audience that "Part of it's yen, part of it's cost, part of it is they're putting a product on the market the consumer is willing to pay up for,"

He went on to state that,Honda Motors Corp., BMW AG, Toyota Motors Corp. and Nissan Motors Corp. have the highest operating margins in the industry, he said, because their vehicles are selling at percentages way above invoice prices.