Why Toyota Will Stop Production in Venezuela

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Why Toyota Will Stop in Venezuela

February 07, 2014

(NYSE:TM ) saw great success in as it proved capable of weathering and a revival of Detroit automakers. In its to push even further in Toyota is going to have outside of Venezuela.  Bloomberg  Toyota de Venezuela will put the on production beginning Feburary 13 due to shortages and a foreign currency described by analysts as “paralyzed” in the country. There is no date set for a to manufacturing for Toyota.

The Venezuela auto market a turn from unsteady to in recent months. Cavenez, tracks the local auto a total of 722 automobiles sold in 2014, a drop of 87 percent to the previous year. Toyota for 225 of those 722 unit sales, but the 291 the automaker produced represented every vehicle manufactured in the in January. Neither  Ford  ) or GM  (NYSE:GM ) has produced any automobiles in in 2014. Next up is Toyota.

According to  Bloomberg . the foreign crisis in Venezuela has made it impossible for local factories to get to pay for car parts. As a result, assembly are stopping without any clear they will reopen in the future. In Toyota’s case, staff will join employees when the lines February 13.

Toyota will to continue its push to expand share in other countries in the In August, Toyota executives a plan to boost Toyota’s in South America. an arena it had for years. The record profits of may allow the automaker to invest heavily in Brazil and other where growth is possible.

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Ford’s output in Venezuela in 2014 (0 units) nearly its sales (2 cars.) Word of controls on the foreign auto have made most wary of continuing any type of in Venuezuela while inflation to record levels. Dollar by the government will begin 10,  Bloomberg  reports.

Toyota is poised to report profit in company history it records $18.8 billion at the end of the year in March, the New York reported. The number eclipses the of all three Detroit automakers On the back of such a windfall, plans to expand into where there is room for the to succeed.

Surveying Latin Toyota sees Brazil as a to increase its footprint and tap into a for small cars, which it had ignored in South America. the automaker announced no permanent end to in Venezuela, there are few signs the is a viable spot for foreing to do business. Where there’s a sum of zero automobiles produced, no room for things to get worse.

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