Critics of GM-Toyota pact plan new opposition
Opponents of a joint venture by General Motors and Toyota to build small cars in Fremont, Calif., were deciding what channels were left open to them after the two auto giants received tentative approval from the Federal Trade Commission to build a new small-car line.
The FTC approval includes a consent agreement that would impose some restrictions on the plan to produce a GM-styled car with a Toyota-designed engine.
Critics said the restrictions would allow the two companies to dominate the US small-car market and thus restrain competition. Chrysler Chairman Lee Iacocca said that during a 60-day public comment period, he would ''do everything in my power to see that the American public gets a clear picture of just how wrong'' the decision was.