Toyota Continues To Take Off

    May 10, 2005

Toyota continues to expand while GM and Ford look for ways to cut back. Toyota will continue to pursue development in North America with a new Camry hybrid and a new facility to build the Scion.

Hot on the heels of a record year in the U.S. market, Toyota plans to build a new facility in Woodstock, Ontario in Canada to produce the Scion and other small vehicles. Toyota is also considering adding a line at their factory in Fremont, California. There they plan to add either a Prius or a hybrid Corolla.

Georgetown, Kentucky, which already produces the Camry, looks like a sure thing to get he hybrid Camry. The Lexington Herald- Leader reported this morning that Kentucky governor Ernie Fletcher would be heading to Japan for an economic development trip hat includes talking to Toyota. In the story, Gov. Fletcher expressed optimism about the Georgetown facility getting the nod.

The aggressive expansion from the world’s number 2 automaker behind GM comes as prices for key resources like steel and plastics continue to rise. Also, GM and Ford built much of their market share around trucks and SUVs and that strategy has cost them heavily in recent months as gas prices remain high, averaging over $2 a gallon nationwide.

John Stith is a staff writer for WebProNews covering technology and business.