Toyota to expand Tacoma output in Mexico
U.S. sales of the Tacoma are up 4 percent this year through August, but its share of the midsize truck market has shrunk to 43 percent, from 51 percent a year earlier, amid new competition.U.S. sales of the Tacoma are up 4 percent this year through August, but its share of the midsize truck market has shrunk to 43 percent, from 51 percent a year earlier, amid new competition.DALLAS -- Toyota will invest $150 million at its Tijuana, Mexico, assembly plant to increase output of the popular Tacoma pickup amid tight inventory that the company says has held back sales.
Toyota Will Spend $150 Million To Up Tacoma Production In Mexico
PHOTO GALLERYToyota has announced it will invest $150 million into its assembly plant in Tijuana, Mexico to boost production of the Tacoma pickup.In a statement, the automaker said that the investment will help expand the plant to build about 160,000 vehicles annually by late 2017 or early 2018, a significant 60 per cent increase over existing production figures.According to Toyota Motor North America chief executive Jim Lentz, "Demand for trucks has grown exponentially.By leveraging our manufacturing facilities' availability and expertise, we can be nimbler and better adjust to market needs in a just-in-time manner."Toyota's decision to increase production of the Tacom a comes despite fact that its share in the midsize pickup truck market has fallen to 43 per cent this year, eight per cent less than 2015.This is largely because of the successful launches of the Chevrolet Colorado, GMC Canyon and Honda Ridgeline.Currently, the Mexican facility runs 24 hours a day Monday to Friday and has two further production shifts on Saturday.
Toyota Tacoma production increasing by 60% because of 'exponential' growth
The latest move by Toyota indicates a healthy and hearty midsize truck market.The Japanese automaker announced it would increase production at its Tacoma pickup plant in Mexico by 60,000 trucks a year.Toyota North America CEO Jim Lentz explained the reason for the expansion, saying, "Demand for trucks has grown exponentially.