Toyota Motor Corporation to Increase Volumes in Indiana, West Virginia and Ontario

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Researched by Industrial Info Resources (Sugar Land, Texas)--Toyota Motor North America (Torrance, California), with parent company Toyota Motor Corporation (NYSE:TM) (Toyota, Aichi, Japan), a multinational automotive manufacturer, is under way with plans to increase its production capacity at existing plants in Indiana, West Virginia and Ontario.

Toyota is currently planning a $400 million expansion of its manufacturing plant in Princeton, Indiana, to increase Highlander sport-utility vehicle (SUV) production and create 400 jobs. Toyota is planning to shift production of its Highlander hybrid SUV from Japan to Indiana, where it currently makes the Highlander and Sequoia SUV's and the Sienna Minivan. The expansion will allow Toyota to produce 50,000 more vehicles, increasing the capacity from 101,000 vehicles per year.

Toyota is planning an $80 million expansion to increase annual capacity of the RAV4 to 200,000 vehicles per year at the assembly plant in Woodstock, Ontario, by 2013; it currently produces 150,000 vehicles per year. Approximately 400 jobs are expected to be created, adding to the 2,000 currently employed at the plant. A majority of the vehicles produced in the Woodstock plant are shipped to the U.S. Sales of the RAV4 dropped last year as a result of a parts shortage caused by the Japanese earthquake and tsunami.

Toyota is investing more than $100 million in expansion at its engine and transmission manufacturing plant in Buffalo, West Virginia. Toyota is increasing its annual production capacity for its six-speed automatic transmissions from 400,000 to 520,000 units by 2013. The expansion will allow Toyota to increase product parts for several the Avalon, Camry, Lexus RX350, Sienna and Venza vehicles.

Sales have been increasing for Toyota, suggesting that the market is definitely improving and is leading to increases in production and jobs.

In 2009, Toyota reported a net loss of $4.2 billion, after it was severely affected by the global financial crisis in 2007. In 2010, Toyota was ranked first, producing 8.6 million units globally. The company introduced new technologies, including one of the first mass-produced hybrid gasoline-electric vehicles, of which it sold approximately 2 million globally. After taking a hard hit following the Tsunami in 2011, Toyota has managed to bounce forward with numerous expansions under way and in the planning stages. Toyota is expanding its North American manufacturing operations as it tries to offset the yen-dollar exchange rates that undercut profits on Japanese-made vehicles.

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