Ford CFO Says Toyota Gains $10 Billion Advantage on Weak Yen
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Ford Motor Co.’s top financial executive said the weak yen gives Japanese automakers as much as $11,000 more profit per car and allowed Toyota Motor Corp. to earn an extra $10 billion in 2013. Ford wants the U.S. to intervene against what it sees as currency manipulation.
“The concern we have is what do you do with all that money,” Bob Shanks, Ford’s chief financial officer, said Thursday in an interview. “The competitive landscape really shifts when you’ve got a competitor that suddenly has got that kind of windfall simply because the currency has moved.”