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Toyota Aims to Make Brazil an Export Base
Toyota Motor Co. tells reporters in Brazil it intends to increase local content for vehicles it makes there and begin exporting them to more countries in Latin America.
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Toyota Motor Co. tells reporters in Brazil it intends to increase local content for vehicles it makes there and begin exporting them to more countries in Latin America.
In the last three years the company has expanded shipments of Brazilian-made Etios and Corolla cars to Paraguay and Uruguay. It will soon add Peru and is finalizing plans to ship them to Chile and Colombia too.
A key element in the strategy will be to hike local content, currently at about 60%, and thereby lower production costs. Toyota is building an engine factory and opening a new engineering center in Brazil.
The company says it made 176,000 vehicles in Brazil last year. Its exports grew 10% to about 43,000 units.
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