Toyota Said It Will Produce Vehicles In Mexico

Autoparts Report, June 18, 2001

Toyota Motor Corp., the third-largest automaker in the world, plans to begin assembling vehicles in Mexico, Mexico City daily Reforma reported. Toyota top executive Hiroshi Okuda, during a recent meeting in Tokyo with Mexican President Vicente Fox, pledged the Mexican leader the company would build an assembly plant in the country, according to unidentified sources at Toyota cited by Reforma.

Hiroshi Okuda during the meeting reportedly did not outline a timetable for Toyota's Mexican manufacturing plans, but the company recently has said it will begin exporting cars to Mexico from plants in the United States and Europe beginning Jan. 1, 2004, when Mexican import tariffs on U.S.- made autos are to be completely eliminated under the terms of the North American Free Trade Agreement (NAFTA).