Thread: Toyota May Shift Camry Production For Korea To US From Japan

Toyota May Shift Camry Production For S Korea To US From Japan -Nikkei

By Tokyo Bureau
Published September 25, 2011
Dow Jones Newswires

TOKYO -(Dow Jones)- Toyota Motor Corp. (7203.TO) has started considering shifting production to the U.S. from Japan of its export Camry model for the South Korean market, as part of steps to cope with the yen's strength, the Nikkei reported Monday.

The auto maker is looking into producing the new Camry mid-sized sedan model for the South Korean market at its Kentucky plant, the Nikkei reported, quoting Toyota sources. The company plans to start marketing the new model in South Korea from 2012.

The Nikkei reported that the strong yen means it would still be cheaper to produce the cars for South Korea in the U.S. despite the higher shipping costs. The report also cited the future ratification of a U.S.-South Korea trade pact that will lead to the scrapping of an 8% tariff imposed on finished car imports.

Toyota currently produces the existing Camry model for South Korea at its plant in Toyota city in central Japan.

Toyota sold about 5,000 vehicles in South Korea in 2010.

http://www.foxbusiness.com/industries/2 ... z1Z5IfYCy8

This would be good news for Kentucky, but I don't understand why if Korea if many thousands of miles closer why don't just build a plant there.

But like I say, I do hope it gets more to the United States. We desperately need to reverse our industrial outsourcing.

They have been talking about this move here on local news for a few weeks now here in Kentucky.I dont know why they are moving but we here in Kentucky welcome it its going to create several hundreds of new jobs at the Georgetown Kentucky plant.