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1996 Fleetwood Brougham
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Toyota has agreed to buy 8.7 percent of the shares General Motors holds in Japanese automaker Fuji Heavy Industries, Toyota and Fuji officials said Wednesday.

The purchase by Toyota Motor Corp. will make it the top shareholder in Fuji Heavy Industries Ltd., said Toyota Executive Vice President Mitsuo Kinoshita and Fuji Heavy President Kyoji Takenaka at a joint news conference.

Toyota will spend $310.5 million.

General Motors Corp. will sell its remaining 11.4 percent of Fuji, which makes Subaru cars, in the market.

GM and Fuji agreed to dissolve their alliance and capital relationship, the two officials said.

Toyota and Fuji are setting up a steering committee to try to reach an agreement on future collaboration as soon as possible, the companies said.

Toyota has been on a roll lately, boosting sales in North America, Europe and other parts of Asia and recording booming profits. GM, based in Detroit, has been in trouble, losing $1.1 billion in the first quarter.
 

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'93 Cadillac 60 Special; '03 Lincoln TownCar Limited ED
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5,929 Posts
I woulda bought a Subie. Not now. What is GM? Stupid ?
 

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2005 CTS-V, 1994 Infiniti Q45
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7,658 Posts
Sandy said:
I woulda bought a Subie. Not now. What is GM? Stupid ?
My sentiments exactly!!!!! When the stupid got stupider!!!
 

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It's a good thing. GM (IMHO) doesn't need to hold on to these brands that it can't do anything with because they don't understand the brand "culture."

PERFECT case in point:

SAAB!:sneaky:
 
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