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Report: Toyota pauses on Mexico expansion to review growth strategy

Sep. 15, 2014 6:48 PM ETToyota Motor Corporation (TM) StockTMBy: Carl Surran, SA News Editor
  • Toyota (NYSE:TM) is reconsidering a move to open a new compact car assembly plant in Mexico after company President Akio Toyoda told planners searching for a site to pause and review its rationale, Reuters reports.
  • Momentum is said to have been building for a decision this summer on the expansion, with the aim of starting Corolla production in Mexico in a few years, but Toyoda apparently then asked the team to "re-review" the project by year’s end.
  • TM already has a pickup truck plant in the Mexican state of Baja California, capable of producing 63K Tacoma vehicles a year, but does not have any capacity for passenger cars.

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