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205375
Mon, 09/05/2011 - 22:29
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https://oananews.org//node/205375
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Toyota to halt Camry exports to N. America amid strong yen
NAGOYA, Sept. 5 Kyodo -
Toyota Motor Corp. plans to terminate exports of its Camry midsize sedan to North America and shift to local production for the market in a bid to grapple with the yen's strength, company officials said Monday.
Toyota also intends to phase out Camry exports to other overseas markets while increasing production abroad gradually to reduce its exposure to currency market fluctuations, they said.
The export termination will not affect production equipment or employment at its Tsutsumi plant in Toyota, Aichi Prefecture, which has undertaken Camry production in Japan, the officials said.
The plan to phase out Camry exports was revealed as Toyota launched in Japan its all-new Camry, fully remodeled as a hybrid with improved fuel economy.
The new Camry, Toyota's fourth exclusively hybrid line after the Prius, Prius Alpha and SAI, is powered by a 2.5-liter gasoline engine and an electric motor, providing an improved fuel economy of 23.4 kilometers per liter.
The automaker aims to sell 500 of the cars per month through its Corolla dealer outlets in Japan, up from about 100 before the full model change.
Toyota expects to attract customers hoping to switch from small hybrid vehicles to larger ones or from large conventional sedans to more fuel-efficient ones.
The new vehicle carries a price tag of 3.04 million yen or more depending on specifications. The base price is 21,000 yen higher in Hokkaido and 28,000 yen higher in Okinawa.
The Camry is Toyota's signature car in the U.S. and Chinese markets but has faced sluggish sales in Japan, where the market for midsize sedans is relatively small.
In October, the hybrid Camry will hit the U.S. market, where the Camry has been the best-selling car for nine years running and 13 of the past 14 years.
Toyota also plans to introduce a hybrid car smaller than the Prius in the Japanese market within this year to further expand the range of choices for customers.
Toyota Motor Corp. plans to terminate exports of its Camry midsize sedan to North America and shift to local production for the market in a bid to grapple with the yen's strength, company officials said Monday.
Toyota also intends to phase out Camry exports to other overseas markets while increasing production abroad gradually to reduce its exposure to currency market fluctuations, they said.
The export termination will not affect production equipment or employment at its Tsutsumi plant in Toyota, Aichi Prefecture, which has undertaken Camry production in Japan, the officials said.
The plan to phase out Camry exports was revealed as Toyota launched in Japan its all-new Camry, fully remodeled as a hybrid with improved fuel economy.
The new Camry, Toyota's fourth exclusively hybrid line after the Prius, Prius Alpha and SAI, is powered by a 2.5-liter gasoline engine and an electric motor, providing an improved fuel economy of 23.4 kilometers per liter.
The automaker aims to sell 500 of the cars per month through its Corolla dealer outlets in Japan, up from about 100 before the full model change.
Toyota expects to attract customers hoping to switch from small hybrid vehicles to larger ones or from large conventional sedans to more fuel-efficient ones.
The new vehicle carries a price tag of 3.04 million yen or more depending on specifications. The base price is 21,000 yen higher in Hokkaido and 28,000 yen higher in Okinawa.
The Camry is Toyota's signature car in the U.S. and Chinese markets but has faced sluggish sales in Japan, where the market for midsize sedans is relatively small.
In October, the hybrid Camry will hit the U.S. market, where the Camry has been the best-selling car for nine years running and 13 of the past 14 years.
Toyota also plans to introduce a hybrid car smaller than the Prius in the Japanese market within this year to further expand the range of choices for customers.
