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Toyota to Increase Exports to the US by 40% to Meet Demand

30 June 2005

Nikkei.  Faced with demand it can’t meet from its US plants,  Toyota plans to increase the number of cars it exports from Japan to the US to about 1.1 million vehicles in 2007, up 40% from 2004.

According to plans submitted to shippers, Toyota will export 850,000 vehicles to the U.S. in 2005 and 1.1 million in 2007. Shipments to the overall North American market are expected to top 1 million in 2006 and 1.2 million in 2007.

The bulk of the shipment hike will consist of Camry and Corolla sedans, Scion models targeted at young drivers, the Prius and other hybrid cars, and the Lexus LS luxury vehicle.

Toyota’s North American production came to 1.44 million units last year, representing 62% of the Toyota vehicles sold in that market. The firm plans to lift its capacity there to 2 million-plus in 2008, when its seventh North American plant—in Canada—is due to come online, raising its local production ratio to 75%.

But Toyota’s existing North American factories are already operating at full capacity, andthe company expects to remain unable to fully meet the growing demand until the completion of its eighth plant in the region around 2010.

June 30, 2005 in Japan, Market Background | Permalink | Comments (3) | TrackBack (0)

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Comments

My girlfriend has bought a Toyota Echo Hatchback (that's what they call the Yaris / Vitz version that we have in Canada) today.

Great little car, and great fuel economy.

These things are incredibly popular in Canada (or in Quebec, anyway); they've only been selling them for 2 years and they are *everywhere*.

I'm also starting to see more Priuses...

Does Toyota currently have one more plant in the planning/building stages? When it is completed, what will it's capacity be? Surely not 1,000,000 cars per year!

Hopefully Toyota continues to build auto plants in the United States -- we sure could use the jobs! That being said, hopefully they are (remain?) "good" jobs -- paying solid wages, providing health and pension benefits, etc.

The new Canadian plant Toyota formally announced a few days ago will open in 2008 and will have the capacity to build 100,000 units annually.

Another plant in the US should come online in 2010.

Those two are all they’ve talked about for North America so far.

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