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CNN Live At Daybreak

Japan Still Big on Car Quality

Aired May 07, 2003 - 06:44   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz now. Japan is still big when it comes to car quality.
To find out who is at the top of the list and what's not, let's go back to Susan Lisovicz in New York, good morning.

SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: Hi, Carol.

Well, Toyota is still at the top of the list, according to a closely watched industry survey, and its Lexus brand scored the fewest problems, 76 per 100 vehicles. That's according to the J.D. Powers survey. Overall, Japanese and German carmakers, like BMW and Porsche, dominate when it comes to quality. But U.S. carmakers are closing the gap, although they are still below the industry average.

Carol, earlier you talked about that new campaign promoting fuel- efficient vehicles. Well, you may be interested in knowing that the Hummer from GM scored dead last at 225. Buyers of the giant sport utility vehicle apparently surprised by its gas guzzling ways. Estimated gas mileage 10 miles, 10 miles per gallon, which I guess is true...

COSTELLO: Ten miles per gallon?

LISOIVCZ: Yes, you always have to use a credit card, I think, when you tank up.

COSTELLO: Yes, but look at the thing, it's huge. Who would be surprised by lousy gas mileage?

Should I...

LISOVICZ: And a hefty bill to buy it, too.

COSTELLO: Exactly.

OK, let's talk about the futures before you have to go.

LISOIVCZ: A lower open. Stocks ended higher yesterday. The Dow added two-thirds of a percent; the Nasdaq up one and a third. One stock that may affect the Nasdaq today and overall tech -- the tech sector is Cisco Systems. It reported results after yesterday's closing bell, beating estimates. Quarterly profits jumping 35 percent in the last quarter for the Internet gear maker, but sales falling slightly -- Carol.

COSTELLO: All right. Thanks -- Susan. LISOVICZ: My pleasure.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM AT www.fdch.com






Aired May 7, 2003 - 06:44   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz now. Japan is still big when it comes to car quality.
To find out who is at the top of the list and what's not, let's go back to Susan Lisovicz in New York, good morning.

SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: Hi, Carol.

Well, Toyota is still at the top of the list, according to a closely watched industry survey, and its Lexus brand scored the fewest problems, 76 per 100 vehicles. That's according to the J.D. Powers survey. Overall, Japanese and German carmakers, like BMW and Porsche, dominate when it comes to quality. But U.S. carmakers are closing the gap, although they are still below the industry average.

Carol, earlier you talked about that new campaign promoting fuel- efficient vehicles. Well, you may be interested in knowing that the Hummer from GM scored dead last at 225. Buyers of the giant sport utility vehicle apparently surprised by its gas guzzling ways. Estimated gas mileage 10 miles, 10 miles per gallon, which I guess is true...

COSTELLO: Ten miles per gallon?

LISOIVCZ: Yes, you always have to use a credit card, I think, when you tank up.

COSTELLO: Yes, but look at the thing, it's huge. Who would be surprised by lousy gas mileage?

Should I...

LISOVICZ: And a hefty bill to buy it, too.

COSTELLO: Exactly.

OK, let's talk about the futures before you have to go.

LISOIVCZ: A lower open. Stocks ended higher yesterday. The Dow added two-thirds of a percent; the Nasdaq up one and a third. One stock that may affect the Nasdaq today and overall tech -- the tech sector is Cisco Systems. It reported results after yesterday's closing bell, beating estimates. Quarterly profits jumping 35 percent in the last quarter for the Internet gear maker, but sales falling slightly -- Carol.

COSTELLO: All right. Thanks -- Susan. LISOVICZ: My pleasure.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM AT www.fdch.com