Toyota: no regrets on Mexico sourcing plans
Toyota officials say they aren’t having second thoughts about plans to build a new assembly plant in Mexico for Corolla small-car production, despite U.S. government threats of a 20% border tax on Mexican imports. The production strategy is aimed at improving logistics and gaining efficiency. Output of larger passenger vehicles such as the Camry, Highlander, Sienna and some Lexus models will be concentrated at Toyota’s Midwest operations in Kentucky, Indiana, and Canada. Truck output will come from the plant in Texas and in Mexico, Toyota North America CEO Jim Lentz says. Toyota began moves to boost Tacoma pickup production in Mexico, with 60,000 units in added capacity expected to come online later this year.