Toyota is expected to begin export production in April, with initial production of 7,500 Corollas in the first year, courtesy of its Tupelo, Mississippi assembly plant. Years of unpredictable swings in the value of the Japanese yen has seen Toyota push its manufacturing operations in other countries, particularly the US, where its builds ten different models.
Scroll down to read the full press release from Toyota.
Company to build upon record U.S. exports in 2012
NEW YORK (Sep. 26, 2013) – Toyota today announced that it will begin exporting U.S.-built*Corolla sedans to 18 countries in Latin America and the Caribbean in 2014. These shipments are expected to build upon Toyota's all-time record export of more than 124,000 U.S.-assembled vehicles to 21 global markets in 2012, an increase of 45 percent over the prior year.
"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," said Jim Lentz, CEO of Toyota's North America Region, "the export of U.S.-built Corolla sedans to Latin America and the Caribbean will help to further solidify our U.S. manufacturing base."
Once production begins in April 2014, Toyota expects to export more than 7,500 Corolla sedans to Latin America and the Caribbean during the first year of sales. These vehicles will be built at the company's Tupelo, Miss. plant, which employs about 2,000 team members and represents an $800 million investment.
*Toyota vehicles and components are built using U.S. and globally sourced parts.