TOKYO -- Japan auto executives gathered for an annual New Year's party Monday expressed hopes for a U.S. turnaround and a strengthening dollar to fix the faltering global market, according to The Associated Press.

Japan's export-dependent automakers have been battered by the slowdown in the U.S. set off by the financial crisis last year. The rising yen has also hurt the companies. The dollar, which had cost 113 yen a year ago, is trading at about 90 yen lately, a 13-year low.