Detroit Is Getting Sideswiped By The Yen

Japan's carmakers have cut prices--and could go even lower

In late 1993, the Big Three auto makers were reveling in an average price advantage of $3,000 per car over Japanese models. The rising yen was well on its way to a mid-1995 peak near 80, and Japanese carmakers were facing big losses in the U.S. as a result.

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