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TOYOTA MOTOR SALES, U.S.A.'S VICE PRESIDENT ISSUES STATEMENT

 TOYOTA MOTOR SALES, U.S.A.'S VICE PRESIDENT ISSUES STATEMENT
 TORRANCE, Calif., May 19 /PRNewswire/ -- The following statement is provided by James Olson, Toyota Motor Sales, U.S.A.'s vice president of external affairs, in response to the Department of Commerce minivan dumping margin announcement today:
 "Today's Department of Commerce (DOC) announcement about imported minivan dumping margins may be politically correct, but it's factual fantasy. Here are the real facts:
 -- We are not dumping the Previa minivan in the U.S. market;
 -- Toyota Motor Corp. sells the Previa's equivalent -- the Estima -- in Japan for a profit;
 -- We sell the Previa here in the U.S. for a profit and for more than a comparably equipped Estima sells in Japan;
 -- Chrysler, Ford and GM currently hold more than 90 percent of the U.S. minivan market while Toyota and Mazda have less than 10 percent. The Big Three's reaction to our modest success is like a herd of elephants being stampeded by two mice; and
 -- We fully cooperated with the Commerce Department investigation. The DOC team left apparently satisfied with the extensive information we provided. Then word came back from Washington that they would disregard that information, construct a price for which the Estima should be selling in Japan and determine that the Previa -- the most expensive van available in the United States -- is being 'dumped' for a lower price than this hypothetically priced van that Toyota should be selling in Japan.
 We hope that the final determination of injury to the Big Three -- scheduled to be announced next month by the International Trade Commission -- will be more objective and less political. Otherwise, prices will surely increase once Toyota and Mazda minivans have been driven out of the U.S. market."
 -0- 5/19/92 R


CO: Toyota Motor Sales, U.S.A. ST: California IN: AUT SU:

EH-AL -- LA014 -- 1935 05/19/92 14:53 EDT
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Publication:PR Newswire
Date:May 19, 1992
Words:318
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