Toyota announced it would begin exporting U.S.-built Corolla sedans to 18 countries in Latin America and the Caribbean starting from 2014.
These shipments are expected to build upon Toyota’s all-time record export of more than 124, 000 U.S.-assembled vehicles to 21 global markets in 2012, an increase of 45% over the prior year. The Japanese company is now keen on outsourcing its production towards meeting local demand – a feat it has done for years already for the European market.
“Toyota’s U.S. manufacturing operations continue to grow as a key supplier of cars and trucks for global markets, which is only possible thanks to the dedication and high-quality work of our team members here,” said Jim Lentz, CEO of Toyota’s North America Region, “the export of U.S.-built Corolla sedans to Latin America and the Caribbean will help to further solidify our U.S. manufacturing base.”
Toyota expects to export more than 7,500 Corolla sedans to Latin America and the Caribbean during the first year of sales, once production begins in April 2014. These vehicles will be built at the company’s Tupelo plant, which employs about 2,000 team members and represents an $800 million investment.