Toyota has announced that it is reducing its reliance on plants in its home nation by exclusively building many of its most popular American models in North America. The Japanese automaker will soon stop export production of the RAV4, Camry, Highlander, and Corolla in the island nation.
The power of the Japanese Yen is one reason for this change. The higher its value is, the more expensive it is to produce vehicles in Japan compared to other nations burdened with less healthy currencies. But this is good news for our Princeton IN auto loan applicants, as heightened stateside production from Toyota’s Indiana plant should boost the local economy from Princeton to Fort Branch, Indiana. The automaker says that its homeland plants are to be used for its home market and to help it meet shortfalls caused by periods of unusual demand.
Talking about the decision, Toyota Motor North America president Shigeki Terashi said, “All the models that have been manufactured under the bridge manufacturing plan are in a trend so that they will all now be manufactured in the U.S. We are now even thinking of exporting those models manufactured in the U.S.”