Redesigned Tacoma, built in Mexico.AP
A Toyota passenger car assembly plant in Mexico is once again a possibility, according to four company executives who spoke with Reuters on condition of anonymity.
The automotive manufacturer has lifted a three-year freeze on building new capacity that was supposed to expire in March 2016. The freeze was imposed as part of efforts to maximize capacity at the company’s existing plants.
The latest information is that initial feasibility studies for two new plants in China and one in Mexico have already been completed, and “the teams are ready to execute.” Guanajuato is a location under consideration for the Mexico factory.
Toyota has one plant in Mexico now, building Tahoma trucks in Tijuana, but it is not a full assembly plant. It is the only big automaker without such a plant in Mexico.
In September it was reported, again by anonymous sources, to be looking at Mexico for expansion, but those plans were scotched by president Akio Toyoda.
But economic improvement in the United States has brought renewed demand and China’s market continues to grow, so automakers are looking at expansion.
A redesigned Tacoma was introduced yesterday at the Detroit auto show, where the company’s chief North American executive, William Fay, said a third shift will be added in Tijuana to boost production of the new model. It was the first full redesign of the Tacoma in 11 years.tacoa
Truck sales have been strong in the U.S. as a result of the economic improvement and lower fuel prices.
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