Toyota Motor Argentine subsidiary, Toyota Argentina SA, has started production of a new Hilux pickup truck, according to Kyodo News.
Go deeper with GlobalData
The new truck is one of the five newly developed vehicles whose production and sales are being expedited under Toyota’s Innovative International Multipurpose Vehicle Project for emerging markets, Toyota told the news agency.
Toyota has positioned the wholly owned Argentine arm, based in Buenos Aires, as its supply base for pickup trucks and sport utility vehicles for the Latin American market, the automaker reportedly said. In addition to the new Hilux, the subsidiary plans to start producing a sport utility vehicle in the second half of this year.
The subsidiary’s combined production capacity for the two types is 65,000 vehicles a year, 70% of which are expected to be exported to some 20 Latin American countries, Toyota told Kyodo News.
The project reportedly calls for producing motor vehicles able to meet local needs in emerging markets in Asia, Africa and Latin America using locally made parts.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIt calls for manufacturing and selling five vehicle models – three pickup trucks, a minivan and an SUV – in various emerging markets.
Prior to the commencement of Argentine production, Toyota started producing such vehicles in Thailand, Indonesia, the Philippines and India, Kyodo News noted.
