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Toyota Announces Bid to Buy Out GM
FOR RELEASE: April 1, 2004

Tokyo, Japan -

In an exclusive telephone interview with GMInsideNews, Fujio Cho, president of the Toyota Motor Corporation, declared that his company is taking the final steps towards acquiring the General Motors Corporation.

"We haven't inked the final deal, but it is forthcoming in the next few weeks. This is something that we have been working on at Toyota for years, but have only recently made known to our counterparts at GM. We have enjoyed the experience of working with GM in the past, as in our NUMMI joint venture in California. However, it became clear to us over the past few years that GM was not going to collapse in upon itself as we had once predicted, and our strategy had to shift. Buying out GM was not our original intent, but was required as the final step towards world market domination, something we feel will benefit car buyers globally and will allow for our dream of a 'Toyota in Every Garage'. We think GM is a company with great future potential, and we look forward to adding it to our portfolio," said Mr. Cho, adding that "we are most excited at the prospect of picking up the Saturn brand, and crushing it like the insect that it is. I've always disliked that brand, and now I have a chance to eliminate it," he chuckled. "'Import Fighter' indeed!"

Toyota Motor Corporation (TSE: 7203/NYSE: TM) was established in 1937 and is one of the world's biggest automakers operating worldwide. The company operates a joint venture with General Motors in California. Toyota enjoys a strong 40%-plus domestic market share (excluding minicars).

General Motors Corp. (NYSE: GM), the world's largest vehicle manufacturer, employs about 325,000 people globally. Founded in 1908, GM has been the global automotive sales leader since 1931. GM today has manufacturing operations in 32 countries and its vehicles are sold in 192 countries. In 2003, GM sold nearly 8.6 million cars and trucks, about 15 percent of the global vehicle market. GM's global headquarters are at the GM Renaissance Center in Detroit. More information on GM and its products can be found on the company's corporate website at www.gm.com.

 

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April FOOLS!
 

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That scared the crap out of me, especially since analysists are saying by 2010 there will be one less major automotive maker.
 

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Originally posted by paul8488@Apr 1 2004, 02:30 PM
ohhh... can't wait to see the '06 avala, or camibu, or corbalt, or tacorado, or highnox... this is exciting!

i forgot it was april 1st until i logged on here... thanks guys!
:roflmao: :roflmao: :roflmao: :roflmao:
 

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EEKKK! Dont say that! becuase they have enough cash to buy GM if they wanted to. :(
 
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