Sunday, July 23, 2006

Toyota may look to block Nissan/GM deal: report

Toyota may look to block Nissan/GM deal: report
Mon Jul 17, 5:52 AM ET

Top executives at Toyota Motor Corp. are considering options to head off rivals Nissan Motor Co. and Renault from forging an alliance with General Motors Corp. , according to BusinessWeek.

Citing unnamed sources, a July 15 article on the magazine's Web site said Japan's Toyota, the world's most profitable car maker, is considering its options and looking at different opportunities it could propose to GM.

"Toyota has no interest in seeing an alliance like this (linking Renault, Nissan and GM) take place," an executive, who asked not to be identified, told BusinessWeek.

GM, Renault SA and Nissan agreed on Friday to take 90 days to review the benefits of a potential alliance, which could lead to the birth of the world's biggest auto group with annual sales of 15 million vehicles -- the size of two Toyotas.

The decision followed a dinner meeting in Detroit between Wagoner and Carlos Ghosn, CEO of both Renault and Nissan.

A Toyota source said the company has "war-gamed" a way to assist GM, BusinessWeek said.

The magazine had no further details on Toyota's plans. It quoted Toyota spokesman Steven Curtis as saying that any talk of an offer from the company is "pure speculation."

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