Toyota faces trouble as the yen, the Japanese currency is close to a 15-year high against the US dollar and has gained 14 % against the euro so far in 2010.
According to just-auto.com , Toyota is examining whether it should produce the Yaris in the US in order to sustain profitability. Currently, Toyota imports the Yaris and Corolla from Japan, but the current strength of the yen makes it unprofitable.
Toyota is the biggest exporter of vehicles to the US and Atsushi Niimi, executive vice president for global manufacturing, explains: "Given the current exchange-rate situation, it isn’t feasible, in terms of a business model, for us to produce Corolla or Yaris in Japan and export them. We’re working very hard to reduce costs to maintain the appeal of these cars."
Source: Just-Auto
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| Photo: Philippe Champoux/Auto123.com |
According to just-auto.com , Toyota is examining whether it should produce the Yaris in the US in order to sustain profitability. Currently, Toyota imports the Yaris and Corolla from Japan, but the current strength of the yen makes it unprofitable.
Toyota is the biggest exporter of vehicles to the US and Atsushi Niimi, executive vice president for global manufacturing, explains: "Given the current exchange-rate situation, it isn’t feasible, in terms of a business model, for us to produce Corolla or Yaris in Japan and export them. We’re working very hard to reduce costs to maintain the appeal of these cars."
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| Photo: Luc Gagné/Auto123.com |
Source: Just-Auto