"No. That figure is derived from what the auto companies pay in wages, health, retirement and other benefits, and includes the cost of providing benefits to retirees."
....
"As for whether Toyota workers earn more than employees of U.S. domestic automakers: In 2006, at Toyota's Georgetown, Ky., plant, workers averaged more in base pay and bonuses than UAW members at Ford, General Motors and Daimler Chrylser, according to the Detroit Free Press. The difference was due to profit-sharing bonuses; Detroit's workers aren't getting many of those these days because, well, there's really nothing to share. The transplants don't give out much data, however, so it's hard to tell if this pattern is continuing or even if it applied to all Toyota plants in 2006.
A final note on all this: Labor costs only account for about 10 percent of the cost of producing a vehicle. And it's not the cost of American cars that people complain about; they're already often thousands of dollars less than their Japanese counterparts. Whatever changes may be made in the carmakers' labor agreements, we're convinced, and the recent hearings show, that there are much bigger problems in Detroit."
FactCheck.org: Do auto workers really make more than $70 per hour?
....
"As for whether Toyota workers earn more than employees of U.S. domestic automakers: In 2006, at Toyota's Georgetown, Ky., plant, workers averaged more in base pay and bonuses than UAW members at Ford, General Motors and Daimler Chrylser, according to the Detroit Free Press. The difference was due to profit-sharing bonuses; Detroit's workers aren't getting many of those these days because, well, there's really nothing to share. The transplants don't give out much data, however, so it's hard to tell if this pattern is continuing or even if it applied to all Toyota plants in 2006.
A final note on all this: Labor costs only account for about 10 percent of the cost of producing a vehicle. And it's not the cost of American cars that people complain about; they're already often thousands of dollars less than their Japanese counterparts. Whatever changes may be made in the carmakers' labor agreements, we're convinced, and the recent hearings show, that there are much bigger problems in Detroit."
FactCheck.org: Do auto workers really make more than $70 per hour?