Toyota: Strong Yen Means Exporting Small Cars “Isn’t Feasible”

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Toyota: Strong Yen Means Exporting Small Cars “Isn’t Feasible”

Toyota‘s executive vice president for global manufacturing said that exporting the Corolla and Yaris to America was no longer profitable due to a strong yen, which is at a 15 year high relative to the U.S. dollar.

Given the current exchange-rate situation, it isn’t feasible, in terms of a business model, for us to produce Corolla or Yaris in Japan and export them,” said Niimi. “We’re working very hard to reduce costs to maintain the appeal of these cars.

Toyota is currently the largest exporter of vehicles to America. The Yaris, which sells for under $13,000 in the United States, would ostensibly be unable to maintain its current price point  under current economic conditions.

[Source: Just Auto]

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