A senior Toyota Motor Corp. executive told The Detroit News today that the failure of one of Detroit's Big Three automakers would be devastating for his company. "We want everyone to succeed," said Steve St. Angelo, head of Toyota's Kentucky assembly plant and senior vice president in charge of engineering and manufacturing for North America. "Competition is good for us. The customers are the big winners, because it makes all of us better."
He added that Toyota depends on many of the same companies that provide parts to General Motors Corp., Ford Motor Co. and Chrysler LLC.
"We share many of the same suppliers, so if one of our suppliers has difficulty with either Chrysler, GM or Ford, there's a good chance they are going to have difficulty for us," he said.