Friday, August 30, 2013

Toyota needs to increase production in Brazil and Mexico

According to a member of the Board, company needs to increase its production capacity and sell more types of cars to boost their participation in the markets
Wheel of Toyota car
Wheel of Toyota's car: "real solution to Toyota's growth in Latin America and in Brazil would be more product," said a member of the Board
Detroit-Toyota needs to increase its production capacity and sell more types of cars to boost its market share in Brazil and Mexico, the two largest economies of Latin America, said a member of the Board of the largest Japanese automaker said Wednesday.
"The real solution to Toyota's growth in Latin America and in Brazil would be more products and, eventually, more production capacity," said Mark Hogan told reporters at an event. "The market for Toyota vehicles in Brazil is limited only by the company's ability to export or produce locally in an efficient manner," he said.
Hogan, former General Motors who joined the Toyota Board in June, also said that the company has a very small presence in Mexico, where their performance is weak. "It will also be modified with more capacity and more products," he said.
Toyota has three assembly plants in Brazil and one in Mexico. From 2015, Toyota will start selling in the market in the United States and Canada 50 thousand cars per year made by Mazda and by a unit under construction in Mexico.
Hogan did not give a deadline for the start-up of the new plants or which vehicles they produce.
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