Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
GM’s Mobility Vision
1. Zero crashes 2. Zero emissions 3. Zero congestion This vision leaves out a very important element: economics.