An emergency bailout by the U.S. government of the ailing Big Three automakers is "necessary" in light of their importance to the U.S. economy, a core market for Japanese cars, according to the head of Japan's automakers association.
But Satoshi Aoki, chairman of the Japan Automobile Manufacturers Association, added that the industry body wants the Big Three — General Motors Corp., Chrysler LLC and Ford Motor Co. — to recover through not only a bailout but also "customer-focused" business efforts.
"Given the auto industry's importance to the U.S. economy, we want them (the Big Three) to return to health soon. So I think the emergency bailout is necessary," Aoki, chairman of Honda Motor Co., Japan's second-largest automaker, said Wednesday.