Toyota Looks at Making Cars Outside Japan as Yen Causes ‘Difficult Time’

Toyota Motor Corp., Asia’s biggest carmaker, may expand production outside Japan as the yen’s gains on currency markets reduce earnings.“We are struggling,” Chief Financial Officer Satoshi Ozawa said today in an interview at the automaker’s factory in Ovar, Portugal. “We are facing a difficult time. We have to reduce our production costs to compensate for the currency situation,” and that may involve shifting manufacturing from the home market of Japan “to some extent.”The euro’s decline since April to a decade low against the yen this month is reducing export earnings at the Toyota City, Japan-based carmaker and competitors.

Read the rest of the story: Toyota Looks at Carmaking Abroad as Yen Causes ‘Difficult Time’.

Leave a Reply

Your email address will not be published.