2003 Tokyo Motor Show
Index (10/21/2003)
Dollar
Versus Yen

2003 Los Angeles Auto Show Ford banner with type
The
opening of the Tokyo Motor Show was almost overshadowed by the long-festering
argument over the value of the U.S. dollar. The Big Three have complained for
more than two years that the Japanese competitors have gained an unfair
advantage because the Japanese yen has been undervalued. John Devine, GM's chief
financial officer and vice chairman, made it plain this week during a visit to
Tokyo that he believes the dollar is still overvalued versus the yen. The yen
should be valued around 100 yen to the dollar but the dollar continues to buy
more yen because the Japanese government has used its power to depress the value
of the yen in an effort to stimulate the economy. The Japanese government is
estimated to have spent more than $80 billion this year alone to protect the yen
from increasing in value, critics of the Japanese policy note.

Siemens Tokyo 2003
Fujio
Cho, president of Toyota Motor Co., the Japanese company that benefited the most
from the policy, however, also told reporters in Tokyo that the yen is already
overvalued and it should actually trade at between 110 yen and 120 yen to the
dollar. Helmut Panke, the chairman of the chief executive officer of BMW, said
after a press conference in Tokyo that he believes the euro is overvalued and
the dollar is undervalued, given the relative strength of its economy. But he
also noted that no two economists seem to agree on what the proper values should
be.
The
word coming out of Washington, D.C., however, is that the automakers and their
allies, frustrated that President George Bush's lack of progress in lobbying the
Japanese government for a cheaper dollar have gone for naught are now
contemplating a using federal trade laws against the Japanese competitors. The
so-called Section 301 actions were used for great effect by the steel companies,
which pressured the administration to impose tariffs on the foreign rivals
because they were subsidized by their government.

2003 Kia KCV3 concept
Kia
KCV3 Catches Attention
The South Korean automaker Kia didn’t have a press
conference at this year’s Tokyo Motor Show but it did manage to sneak in a
sporty concept vehicle, the KCV3, which got plenty attention thanks to a
strategic display —
and elegant models —
placed along the well-traveled path
between the three exhibit halls housing the displays of the various car
manufacturers. If the throngs of
male journalists lining up to snap picks actually took a glimpse at the
KCV3, they'd get a good idea of a very real ragtop project underway at Kia.
It is, however, several years away from production, sources suggested, a bit
further out than the convertible being developed by the Korean carmaker's parent
and one-time rival, Hyundai.
Mazda Ibuki: The Next Miata?

Mazda Ibuki concept
Mazda used the Tokyo Motor Show to unveil the Ibuki
concept vehicle, which is expected to serve as the prototype for the next Mazda
Miata. Mazda itself has done little to quell the speculation and fed the
interest of the media assembled in Tokyo by mentioning it could serve as
the replacement for the Miata. (Indeed, senior Mazda officials reportedly
acknowledged that to their rival company counterparts over the last few days.)
Exactly how much of Ibuki makes it into production is unclear, but while there
are definite

Mazda hydrogen-powered RX-8
similarities to the long-lived Miata, the show car is a bit
more chunky overall, with creased "character lines," such as on the front
fenders. In
prototype firm, Ibuki boasts a lightweight body with a front-midship
powertrain configuration that should mean a quicker, more stable ride.
Mazda also showed off an experimental version of the
RX-8 —
the RX-8 RE, which runs on hydrogen rather than gasoline. Mazda was one of the
first automakers to publicly discuss the idea of using the lightweight gas —
but unlike other manufacturers emphasizing fuel cell technology, Mazda
has focused on hydrogen-powered internal combustion engines. In this case, it's a modified version of the
Renesis rotary found in the production RX-8

2003 Suzuki Terrace concept
Suzuki
Borrows Hy-Wire from GM
Suzuki
unveiled a new concept car dubbed the Mobile Terrace, which is based on the
Hy-wire, the rolling chassis General Motors has built for fuel-cell-powered
vehicles. The Terrace is four meters long and offers an open interior with three
rows of seats, sliding doors and roof to give the vehicle an open and spacious
feel, according to Hiroshi Tuda, Suzuki President, who said GM's help with the
project was much appreciated.
Another Suzuki concept unveiled for the Tokyo Motor Show
was the Landbreeze, which was built with aluminum and other materials that
are easy to recycle, according to Tuda. Tuda also showed off the S-Ride
another small, commuter car that could serve the active lifestyles of young car
buyers.

2003 Mitsubishi Tarmac Spyder concept
Mitsu
Shows DC-Developed Concept
Mitsubishi
unveiled the first concept vehicle based on the new platform developed in
collaboration with the Chrysler Group. Rolf Eckrodt, the president and chief
executive officer of Mitsubishi Motor Corp., said that the four-seat Tarmac
Spyder unveiled this week in Tokyo is the first of several vehicles that will
come from the development of the new platform. The first production vehicles
developed via Mitsubishi's collaboration with the Chrysler Group will be ready
in 2005 and 2006. The joint platform will give both Mitsubishi and Chrysler
substantial economies of scale, he added. "It's an 800,000-unit per year
platform," he said.

2003 Mitsubishi i concept
Mitsubishi also unveiled three other minicars developed
jointly with Mercedes-Benz, including the SE-RO, funky looking, one-box that
uses a mid-engine,
rear-wheel-drive layout. It's expected to appeal to buyers in
the minicar segment with substantial hobbies. The "i" concept also
is built on the same platform but incorporates more high-tech features
in its instrument panel.
Honda Reaches for New Designs
No one has ever challenged the quality of Honda's
engines but the company’s designs have never been noted for their flair. Takeo
Fukui, Honda's new president and chief executive, seems committed to put some
new energy in the company's design efforts. During the company’s presentation at
the Tokyo Motor Show, Fukui announced the company had set up a new advanced
design studio in the heart of Tokyo's Ropppongi District. "Tokyo Studio is a
nexus of interchange that transcends nationalities and job titles —
it's a wellspring of freethinking,"
Fukui said.

2003 Honda HSC concept
In addition, Honda unveiled four
new concept vehicles among them the HSC, a prototype that some were
speculating could serve as the replacement for the current generation NSX. Honda
officials refused to discuss such speculation, but they admitted the Acura sports car is due
for a replacement. HSC is a pure sports car with a long wheelbase and short
overhangs. In show
car form, it features a midship-mounted V-6 developing something over 300 horsepower.
The driver can use either an unusual dial shifter or Formula One-style
paddle shifters.

2003 Honda Imas concept
In addition, Fukui also unveiled the
IMAS, a sporty 2-seater featuring an aluminum frame and ultra-light carbon
composite body, powered by a hybrid-electric powertrain. Designed to suggest
where the teardrop-shaped Insight two-seater could evolve, IMAS is quicker than
the original, yet still gets more than 80 miles to the gallon. To underscore the
sporty nature of the show car, it features what Honda dubbed the "naked interior
of a road racer."

2003 Honda Kiwami
The Kiwami is a futuristic looking sedan
built around Honda's newest fuel cell stack. The hydrogen powertrain can
operate below freezing, a problem with many fuel cell prototypes. Honda lays
claim to being the first automaker to market a fuel cell vehicle, or FCV. But
mark that entry into the record books with a big asterisk. Those first few
vehicles were "sold" to select fleet customers who can carefully monitor and
control their use. Fukui said this week that it's unlikely Honda would be able
to deliver to dealers an FCV ready for the mass market until sometime after
2010, at the absolute earliest.

2003 Honda ASM concept
Virtually all new Honda show cars
feature some sort of "green technology. That includes the Odyssey ASM, which
comes with a new-look interior that features three rows of seats capable of
seating up to eight passengers. The oval-shaped,
luxuriously-equipped minivan also boasts the latest version of Honda's
Integrated Motor Assist, or IMA hybrid-electric system.
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