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MVMA ISSUES STATEMENT ON COMMERCE DEPARTMENT'S MINIVAN DUMPING DECISION

MVMA ISSUES STATEMENT ON COMMERCE DEPARTMENT'S MINIVAN DUMPING DECISION
 WASHINGTON, May 19 /PRNewswire/ -- The following is a statement by Thomas H. Hanna, president and chief executive officer of the Motor Vehicle Manufacturers Association of the United States, Inc., regarding the U.S. Commerce Department's decision today on minivan dumping:
 Chrysler Corporation, Ford Motor Company and General Motors Corporation are pleased that the Commerce Department, in announcing the results of its final investigation, has determined that imported Japanese minivans produced by Toyota Motor Corporation and Mazda Motor Corporation are being sold in the U.S. at materially less than fair value. The companies are particularly satisfied that the Department revised the preliminary average dumping margin upward. This action validates the companies' contention that Japanese producers have engaged in unfair trade practices. It confirms that the pricing of these vehicles in the U.S. was deliberately set at a level below that in Japan to aggressively and unfairly seek rapid market share increases at the direct expense of U.S. producers, thousands of their workers and the U.S. economy.
 We appreciate the commitment and diligence of the Commerce Department investigators in conducting this complex and important case. Because of their careful analysis, the U.S. government, for the first time, was able to see through the veil of Toyota's and Mazda's keiretsu relationships. We have long been convinced that Japanese producers use these relationships to mask their true cost structure.
 This case, which was the result of an intensive yearlong Commerce Department investigation of just one Japanese model line, demonstrates the U.S. companies' belief that Japanese trade in the automotive sector has not operated on fair trade principles. U.S. automakers will continue to review developments in the U.S. market to ensure that trading practices which violate U.S., GATT-sanctioned, unfair trade laws are not tolerated.
 -0- 5/19/92
 /CONTACT: Gene McKinney, 313-872-4311, or Ed Lewis, 202-775-2715, both of MVMA/
 (F C GM) CO: Motor Vehicle Manufacturers Association of the United States, Inc. ST: District of Columbia, Michigan IN: AUT SU:


SM -- DE019 -- 1888 05/19/92 13:48 EDT
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Publication:PR Newswire
Date:May 19, 1992
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