Not only has the U.S. financial crisis sent the Big Three U.S. automakers into deep financial trouble, it is damaging the sales and profits of Japanese carmakers and forcing them to review their alliances.
Because the North American market is so vital to the automakers, they are suffering along with their U.S. counterparts. To make matters worse, the continuing credit crisis has boosted the yen against the dollar and other major currencies, eroding the carmakers' profits earned overseas.
One casualty is Mazda Motor Co., one-third owned by ailing Ford Motor Co.