Toyota To Source Locally For Next Corolla
News: Japanese automaker Toyota Motor's (Toyota) European subsidiary Toyota Motor Europe (TME) is to manufacture the next-generation Corolla with more locally-manufactured parts, reports Balkans.com. The new Corolla is scheduled for production in H113 at the Sakarya plant in north-western Turkey. The automaker will also focus on production of the Verso at the Sakarya facility, while the Auris will be produced at the automaker's British plant, said TME President Didier Leroy. Toyota will expand its workforce to 3,200 employees and invest US$150mn for production line upgrades at the Sakarya plant.
BMI View:Toyota announced plans to make Turkey the base of operations for continued expansion into the Middle East and North African markets. The Sakarya plant will increase production to 177,000 units in 2012 and up to 200,000 units per year within three years. Currently, 90% of the plant's exports are to European markets but Toyota has indicated that both MENA and domestic consumption will increasingly be targeted as demand from these markets increase.