Toyota Plans More Production of Lexus in US
Japanese auto major Toyota Motor Corp has planned to increase production of Lexus to United States. The company will be able to mitigate the effects of rising Japanese Yen by shifting its some of its production outside Japan.
Toyota's engineering center in Ann Arbor, Michigan employs over 1000 engineers. Japanese government has announced extending dollar credit for companies planning to invest overseas.
The company may also consider upgrading its facility in Mexico. During the last quarter of 2011, the sales volume was robust in US market. The sales have been lower during the first half of 2012. The company doesn't see much of rise in sales till the presidential elections in United States. The sales have been robust in US, partly because of rise in subprime automobile loans.
The company is also planning to launch fuel cell sedan by year 2015 in US market.
Last week, another Japanese automobile company Nissan announced the plan to shift some of its production base to North America. Nissan rules the market share in Mexico and plans to increase its footprint in Brazil as well. The company also witnessed rise in its sales volume in European market during July. Nissan has launched Elivia in the high growth Indian market last week.
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