Why Toyota Will Stop Production in Venezuela
According to Bloomberg, the foreign exchange crisis in Venezuela has made it nearly impossible for local factories to get dollars to pay for car parts. As a result, assembly lines are stopping without any clear sign they will reopen in the near future. In Toyota’s case, administrative staff will join factory employees when the lines stop February 13. Toyota will have to continue its push to expand market share in other countries in the region. In August, Toyota executives outlined a plan to boost Toyota’s fortunes in South America, an arena it had neglected for years. The record profits of 2013 may allow the automaker to invest more heavily in Brazil and other markets where growth is possible. More...
According to Bloomberg, the foreign exchange crisis in Venezuela has made it nearly impossible for local factories to get dollars to pay for car parts. As a result, assembly lines are stopping without any clear sign they will reopen in the near future. In Toyota’s case, administrative staff will join factory employees when the lines stop February 13. Toyota will have to continue its push to expand market share in other countries in the region. In August, Toyota executives outlined a plan to boost Toyota’s fortunes in South America, an arena it had neglected for years. The record profits of 2013 may allow the automaker to invest more heavily in Brazil and other markets where growth is possible. More...
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