Toyota Exports U.S.-Built Corolla to Latin America
In 2014, Toyota will start exporting its U.S.-built Corolla to over 18 countries in Latin American and the Caribbean to build upon the company's record of exports to global markets. Currently, Toyota has exported more than 124,000 vehicles to 21 different markets in 2012, which shows a 45 percent increase over 2011. This isn't the first time that the automaker has decided to export U.S. vehicles to other countries. Back in 2008, Toyota announced that it was looking to export the Tundra and Sequoia models outside the U.S. market as sales had continued to drop and inventories piled up. "Toyota's U.S. manufacturing operations continue to grow as a key supplier of cars and trucks for global markets, which is only possible thanks to the dedication and high-quality work of our team members here. The export of U.S.-built Corolla sedans to Latin America and the Caribbean will help to further solidify our U.S. manufacturing base," said Jim Lentz CEO of Toyota's North America Region, in a recent statement. All vehicles that will be exported to these countries will be built at the Tupelo, Mississippi plant that employs around 2,000 people. Thanks to an $800 million investment, Toyota is able to expand its reach into global markets even further. The company hopes to sell more than 7,500 vehicles in the first year after production begins in April 2014. Source: Toyota
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