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CNN Live At Daybreak
Toyota Overtakes Ford as No. 2 Automaker
Aired January 26, 2004 - 06:41 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.
FREDRICKA WHITFIELD, CNN ANCHOR: In fact, it's time to get a little 'Business Buzz.' If you bought a Toyota Camry instead of Ford Taurus last year, you aren't alone.
Carrie Lee reports from the Nasdaq market site in Times Square -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Thank you, Fredricka.
Ford Motor Company is no longer the world's No. 1 automaker, Toyota is. The Japanese firm sold nearly seven million vehicles last year. Ford sold a few thousand fewer than that. General Motors remains on top with more than eight and a half million vehicles sold.
The long anticipated switch here came as the U.S. big three automakers lost customers to Japan's top automakers in their own backyard last year. Toyota drove aggressively into the red hot Asian car market and that has been a weak spot for U.S. makers. So we're certainly going to be watching some of these stocks to see whether this report impacts those -- them or not.
Overall, we're expecting a flat to slightly lower open for stocks. Last week the Dow Jones industrials broke an eight-week winning streak, actually losing a little bit of ground. The Dow falling, as well as the Nasdaq. You can see here the weekly returns. S&P 500 edged a little bit higher.
Among stocks to watch today, McDonald's, one of the Dow 30 reporting profits after the close of session -- the session today. Wall Street looking for 35 cents a share versus 25 cents in the year ago quarter.
Fredricka, it will be very interesting to see what, if anything, McDonald's has to say about the recent mad cow scare and whether that is going to affect the numbers or not.
Back to you.
WHITFIELD: No kidding. All right, thanks a lot, Carrie.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired January 26, 2004 - 06:41 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
FREDRICKA WHITFIELD, CNN ANCHOR: In fact, it's time to get a little 'Business Buzz.' If you bought a Toyota Camry instead of Ford Taurus last year, you aren't alone.
Carrie Lee reports from the Nasdaq market site in Times Square -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Thank you, Fredricka.
Ford Motor Company is no longer the world's No. 1 automaker, Toyota is. The Japanese firm sold nearly seven million vehicles last year. Ford sold a few thousand fewer than that. General Motors remains on top with more than eight and a half million vehicles sold.
The long anticipated switch here came as the U.S. big three automakers lost customers to Japan's top automakers in their own backyard last year. Toyota drove aggressively into the red hot Asian car market and that has been a weak spot for U.S. makers. So we're certainly going to be watching some of these stocks to see whether this report impacts those -- them or not.
Overall, we're expecting a flat to slightly lower open for stocks. Last week the Dow Jones industrials broke an eight-week winning streak, actually losing a little bit of ground. The Dow falling, as well as the Nasdaq. You can see here the weekly returns. S&P 500 edged a little bit higher.
Among stocks to watch today, McDonald's, one of the Dow 30 reporting profits after the close of session -- the session today. Wall Street looking for 35 cents a share versus 25 cents in the year ago quarter.
Fredricka, it will be very interesting to see what, if anything, McDonald's has to say about the recent mad cow scare and whether that is going to affect the numbers or not.
Back to you.
WHITFIELD: No kidding. All right, thanks a lot, Carrie.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
