Toyota Flees Strong Yen, Shifts Production To Europe

Bertel Schmitt
by Bertel Schmitt

The slow exodus from Japan continues. Driven out by the strong yen, which turns exports into a money loser, Toyota is building out capacities abroad. Toyota will invest €265 million ($354 million) into its existing plants in Turkey and the UK. 1,900 new jobs will be created, 400 in Turkey, 1,500 in the UK.

According to the plan,production of the C-segment hatchback Auris will be concentrated version of its European-produced C-segment vehicles (petrol, diesel and hybrid) will be consolidated at their Burnaston plant (TMUK) in Derbyshire. Currently, the Auris is produced both in Turkey and the UK.

Toyota Motor Manufacturing Turkey (TMMT) in Sakarya, will not lose work, in the contrary. Along the Toyota Verso, the plant will build a new, unnamed compact sedan.

This change of production strategy is set to take place within the next two years.

Bertel Schmitt
Bertel Schmitt

Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.

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  • Daveainchina Daveainchina on Nov 24, 2011

    I find it odd that Japan hasn't devalued it's currency. Something is going on here, I'm not sure we are getting the full story on this. Something doesn't make sense to me.

    • See 3 previous
    • Sector 5 Sector 5 on Nov 25, 2011

      @unhittable curveball Well yeah specially since China's flashing its Navy might in the southern Japanese prefecture.. Washington answers with ANZUS

  • Carbiz Carbiz on Nov 25, 2011

    Didn't the Diet just spend $56B DOLLARS last year to prop up the yen? Oh, that's right - that was before the earthquake. I'm no economist (thank God!), but the hundreds of billions that are being spent to repair and upgrade after the earthquake/tsunami must be having an affect on the Japanese economy. The big multinationals must see the writing on the wall and are getting out of dodge while they still can.

  • Wolfwagen I have worked as a manager in both union and non-union locations. The best union employees were the ones who were indifferent to the union or told them to get bent. The worst ones were the ones who would run to the union for every little thing, even when it was their own actions that caused the problem or because they could not understand their own contract
  • Harry HOW i RECOVER MY LOST OR STOLEN FUNDS:You should gather and document all relevant details about the theft, such as transaction IDs, wallet addresses, and any communication with the scammer if any, and then proceed to message SYLVESTER. G. BRYANT to get back your lost/ stolen funds by sharing the evidence you've compiled. he was the only one who was able to recover my funds I was so surprised he got back my money worth $52k but glory be to God and all thanks to him.. here is his contact below: Instagram: Yt7crackerszEmail: Yt7crackersz@ gmail,com
  • Daniel J I had read an article several years ago that one of the issues that workers were complaining about with this plant is that 1/3 of the workforce were temporary workers. They didn't have the same benefits as the other 2/3 of the employees. Will this improve this situation or make it worse? Do temporary workers get a vote?I honestly don't care as long as it is not a requirement to work at the plant.
  • Kosmo Tragic. Where in the name of all that is holy did anybody get the idea that self-driving cars were a good idea? I get the desire for lane-keeping, and use it myself, occasionally, but I don't even like to look across the car at my passenger while driving, let along relinquish complete control.
  • Bof65705611 There’s one of these around the corner from me. It still runs…driven daily, in fact. That fact always surprises me.
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