(Published Friday, February 9, 2007 11:55:35 AM CST)
A d v e r t i s e m e n t
By Mike DuPre' Gazette staff
CHICAGO-The road ahead for the auto industry is lined with opportunities for sales and profits, but automakers must work together to fix the potholes they've made.
Jim Press, president of Toyota Motors North America, delivered that message Thursday to The Economic Club of Chicago and reporters at the 99th Annual Chicago Auto Show.
While a growing population will provide economic opportunities, a large and growing population of vehicles has created environmental potholes, Press said.
About 80 million American baby boomers-the largest buying segment in history-not only are retiring, but they also have put their kids though school and are paying off their mortgages.
"It's our turn now," baby boomer Press said, referring to the many purchases, including new vehicles, that the boomers will make with their soon-to-be-free disposable income.
The U.S. population is projected to grow from 300 million to 370 million in 19 years, and every year 4 million members of Generation X, the baby boom echo, become new drivers, Press said.
Between 1980 and 2000, the number of American drivers age 70 or older grew from 9 million to 19 million.
More people are living and driving longer, and they are generating more buying power, Press said.
But the planet also is home to 800 million vehicles, and another 170,000 are made daily, he noted.
"We believe providing mobility for the world's population is wholesome," Press said, "but a larger auto population leaves a larger auto footprint."
So, while automakers should compete in the showroom, they should cooperate in society, Press said.
He noted that Toyota and General Motors are engaged in a joint venture to develop hydrogen fuel cells for vehicles and that GM, BMW and DaimlerChrysler are working jointly on gasoline-electric hybrid technology.
Such cooperation and sharing should be the rule rather than the exception because the industry as a whole must reduce greenhouse gas emissions and improve fuel efficiency, he said.
If you go What: 2007 Chicago Auto Show, the 99th edition of the annual automotive exposition.
Where: McCor-mick Place, 2301 South Lake Shore Drive.
When: Today through Sunday, Feb. 18.
Hours: 10 a.m. to 10 p.m. daily through Saturday, Feb 17. 10 a.m. to 8 p.m. Sunday, Feb. 18.
Cost: $10 for adults, $5 for children ages 7 to 12 and adults older than 62, and free for children younger than 6 when accompanied by a paying adult. Tuesday is Women's Day at the auto show, and admission for women is half price. Automakers will present special programs dealing with women and vehicles.
