Toyota May Purchase Chrysler Components

Toyota Motor Corp. plans to buy auto parts from Chrysler Corp. for the first time to help it reach targets announced during President Bush’s visit in January, a leading economic daily reported Sunday.

The Nihon Keizai newspaper said in its lead story that beginning at the end of 1993 Toyota will buy a gasoline tank component from Chrysler that it will use in 400,000 Camrys made in the United States.

During Bush’s trade summit in January, Toyota said it would try to buy $5.28 billion in American-made auto parts in the year beginning April, 1994, double the figure of 1990.

The Toyota program was one of several that Japanese auto makers announced to try to reduce the $43-billion U.S.-Japan trade imbalance, about three-quarters of which involves autos and auto parts.

The newspaper did not say how much the Chrysler sales will be worth.

Chrysler declined comment on the report. A Toyota official could not be reached.

The newspaper said the part, a gasoline steam absorber, adsorbs and re-liquefies gasoline steam. The component was developed by Acustar, a Michigan-based Chrysler subsidiary, it said.

According to the report, the purchase would be Toyota’s first from Chrysler. It said Toyota, the world’s third-largest auto maker, currently buys one part made by General Motors Corp.