Wheels24

Yen prompts Lexus shift

2012-07-24 13:05

TOKYO, Japan - Toyota is planning to shift part of its Lexus SUV production to Canada, reports said on Tuesday.

Japan's largest automaker plans to boost production in Ontario as it and other exporters struggle with the yen's rise, which has eroded repatriated revenues, Kyodo News agency cited unnamed company officials as saying.

SOLE LEXUS OUTSIDE JAPAN


Toyota is expected to manufacture 30 000 Lexus RX SUV's a year in Ontario after the shift from the southern Japan plant of Miyawaka.

It will be the only Lexus model manufactured outside Japan.

Back in February 2012 Toyota said it would relocate production of the Highlander SUV from Miyawaka to a US plant in Indiana by the second half of 2013.

DPA