This Week:
- Egery,
the First Internet Company Dedicated to European Drivers, To Unveil
Initial Service Offer at the Paris Auto Show
- Honda
Expands Production of General-Purpose Engines in North Carolina
. - TMC
to Bolster Latin American Operations
. - Chrysler Brand to Unleash Minivan Advertising Campaign For Its All-New 2001 Voyager and Town & Country
- General
Motors Inaugurates GM Tradexchange in Europe
. - Lear
Corporation Announces Plans to Open New Manufacturing Operation in
Germany
. - Michael Johnston Joins Visteon Leadership As President and Chief Operating Officer
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- 2000 Copyright &
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All Rights Reserved .
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News of September 12, 2000
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TMC
to Bolster Latin American Operations |
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Tokyo
- TOYOTA MOTOR CORPORATION (TMC), in a plan to strengthen its
localization efforts in Latin America, announced it will enhance
production in Brazil, Argentina and Venezuela, as well as boost parts
procurement in the region. The
plan includes an increase in local Corolla production from the current
20,000 units annually to 60,000 units by 2002 to answer the strong
demand for Corollas in the three countries mentioned above and to
enhance "in-region" exports to the surrounding Latin American
markets. This development focuses on strengthening production in Brazil,
the region's largest market, and reinforcing a tri-pillar
parts-and-other-needs support base that incorporates Argentina and
Venezuela. A
by-country description of these advances is as follows: BRAZIL Toyota
do Brasil will triple by 2002 its annual Corolla production capacity
from the present 15,000 units to accommodate growing sales. It will also
build a new stamping plant to further promote local content. Additional
investment* will be around 30 billion yen. ARGENTINA Toyota
Argentina S.A., while continuing to import Corollas from Brazil, will
start making its own Corollas, in addition to the Hilux pickup trucks it
produces now. VENEZUELA Toyota
de Venezuela Compañía Anónima will make further cost-cutting
improvements in its knockdown Corolla production to strengthen
Venezuela's position as a Corolla supply base to countries such as
Colombia and Ecuador. *Includes
plant and equipment investment, operational investment and others. For
outlines of Toyota do Brasil, Toyota de Venezuela Compañía Anónima
and Toyota Argentina S.A., please see the attached page.
(September
4, 2000) |
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