2010 Toyota Camry LE, made in Kentucky.
You mean assembled in Kentucky. The profits still go to Japan.
Actually, the Toyota Camry is built from over 80% parts sourced in the US versus only 30% for say, the Ford Fusion. In fact, a recent survey finds the Camry "the most American car in America" even beating out the Ford F-150 - the American Made Index from Cars.com 2009. And where are those profits being reinvested? A major point made by unions in the whole GM debacle is that when they took cuts over time to help make GM more profitable, and GM took on new bond debt, what was not spent to cover pensions went to GM investments overseas - mostly in China.
GM and Chrysler will cost taxpayers directly some $100 billion to keep alive to continue to run their overseas operations and investments and build cars in large measure (more than one might think) with parts sourced from and manufactured overseas. Conversely, Toyota has invested directly some $18 billion in its US operations with annual parts purchases at their US operations approaching $30 billion (while vehicles like the Tundra & Sienna source 90% or more of their parts in the US), significantly contributing to US GDP. They needed only a $3 billion dollar loan from the Bank of Japan during the same period of financial turmoil, and still are expected to report profits...
Toyota profits? In 2004 they were about $10 billion - one third what they spend in the US on parts each year. For 2009 profits are expected to total roughly $5.5 billion. And Toyota is publicly traded... so who owns Toyota and where exactly are those profits going?
Major shareholders (3,447,997,492 total shares outstanding):
1. Japan Trustee Services Bank, Ltd. 353,082
2. Toyota Industries Corporation 201,195
3. The Master Trust Bank of Japan, Ltd. 192,363
4. Nippon Life Insurance Company 130,791
5. State Street Bank and Trust Company 119,887 (Based in Boston)
6. The Bank of New York Mellon as Depositary Bank for Depositary Receipt Holders 85,071 (Based in NY)
7. Trust & Custody Services Bank, Ltd. 84,527
8. Tokio Marine & Nichido Fire Insurance Co., Ltd. 83,821
9. Mitsui Sumitomo Insurance Co, Ltd. 65,166
10. JP Morgan Chase Bank 60,854 (Based in NY)http://www.edmunds.com/advice/buying/ar ... ticle.htmlhttp://www.businessinsider.com/toyota-a ... any-2009-7http://www.richmond-toyota.com/buy-american.htmhttp://www.cars.com/go/advice/Story.jsp ... amMade0709
Pax et bonum