The strong Japanese yen is hitting carmakers having to export from the land of the rising sun. One preferred solution has been to adopt the “build them where you sell them” policy, but with the ebb and flow of the global market this is sometimes proving difficult.
reports today that Toyota Motor Corp. is having to bolster the shipment of new Camry sedans from its US plants to the South Korean market by sending 6,000 extra units per year. This move comes as a result of the high prices that have come with Japanese exports.
On US soil, the Camry is put together in Kentucky, from where the first units will arrive in South Korea next month. Toyota has also had to shift Sienna minivans built in Indiana to the Asian market.
"Japan's entire auto industry will collapse" if the yen continues to gain, Toyota CEO Akio Toyoda said at a Nov. 7 briefing.