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INTERNATIONAL TRADE; Ford get a Japanese loan for the right hand-Drive Cars.
TOKYO, Export-Import Bank of Japan will lend September 4 Ford Motor Company 153 2 million to develop and market the right to drive cars for Japanese consumers, a bank spokesman said today.
The agreement with Ford comes a week after the bank made a similar agreement with General Motors Corporation for a loan of 42 million.
The loans are part of Japan's efforts to increase imports of manufactured goods, especially American cars.
The United States has pressured Tokyo for years to open its markets to cars manufactured in America and parts In response, the Japanese argued that American cars are not popular in Japan because most do not come with the RHD.
Ford will use the loan to cover the costs of adaptation of its Taurus and Explorer models for sale in the Japanese market right disk-A Ford spokesman in Tokyo said the company would begin to adapt its production lines for model drive straight early next year.
The Taurus model is a hot seller in the US, with sales of 400 000 vehicles per year Georgia Ford factory initially will produce about 5000 to 6000 motor vehicle right hand a year for export to Japan and other markets such as Britain, Australia and New Zealand.
A Ford plant in Kentucky is expected to produce 3000 right wheel Explorer sport utility vehicles for export The plant is about 300,000 Explorers per year.
In July, imports of Japanese cars increased, compared to the same period last year, for the 21st consecutive month, to 35.766 units, but the rate of growth begins to weaken and critics say many of the imported cars made overseas by Japanese companies.
Tensions in the motor trade persisted between the United States and Japan, as it represents more than half of the annual trade surplus of Japan with the United States Tokyo and Washington signed an agreement in late June to improve the access to the United States on the Japanese auto market, but there was a debate on the interpretation of the agreement.
While GM was the first loan by the Export-Import Bank for a major automaker in the United States, he was ready to large enterprises of the non-Japanese electronics such as General Electric Company of the United States and LM Ericsson Sweden.
The Chrysler Corporation has not filed for a loan from the Export-Import Bank, a spokesman for the bank.
The loans are made under a program established in 1984 to increase imports.
INTERNATIONAL BUSINESS Ford get ready for a Japanese RightHandDrive Cars, international, business, ford, Japanese.