Toyota is losing money now, but not as much. Most of it is being lost in the US. Ford made a profit last quarter overseas, so the notion that they can’t compete with the foreign makes is absurd. Even GM is doing better overseas than it is here.
They CAN compete with the foreign makers on the foreign maker’s own turf, and still make a profit. It’s just that they can’t compete with them here at home, where they must contend with the UAW, while the foreign makers need not.
Which leads to a very interesting question.... Congress says they don’t have a plan. If I were the head of a US automaker, my plan would be to close all my US operations and move overseas, where it’s easier to make a profit. I wonder if that plan would satisfy the Democrat Congress?