No New Factories for Toyota Until 2016

Toyota Motor Corp. may expand capacity at existing plants, but it won't build any all-new facilities for three years, according to The Nikkei, which does not cite its source.

The newspaper says Toyota will complete already-announced factory projects. The company has disclosed plans that include engine and assembly facilities set to open next year in Indonesia and an engine plant expected to begin operations in Brazil in 2015.

Toyota will announce the construction hiatus in April. The Nikkei says the company's strategy through April 2015 will be to make existing facilities more efficient.

The company hasn't confirmed the newspaper's account. Toyota tells Bloomberg News it will boost investment efficiency, in part by contracting out production of some of the company's models to such competitors as Mazda and Fuji Heavy's Subaru brand.