Toyota to move Yaris’ production to France
Toyota Motor Corp. will transfer its Yaris compact car production for the North American market from Japan to France in May of next year; this marks the first time that the Japanese automaker will export cars to North America from Europe. Analysts predict that the move will prevent a strong yen and soaring energy costs from affecting the company’s earnings. The move to France will require an investment of US$10 million, and the company expects a combined annual export volume of 25,000 units to the U.S., Canada and Puerto Rico. Toyota will export only the gasoline versions of Yaris to North America. Other Japanese automakers have already moved some export production out of the country because of costly labor regulations, high corporate taxes and an energy policy deadlock after the Fukushima crisis last year, which led to a shutdown of all of the country’s nuclear reactors. (June 23, 2012)
