The automaker plans to boost vehicle production at its San Antonio truck and SUV plant
Making more vehicles in the U.S. will help Toyota, the world’s top-selling automaker, defray a hefty tariff bill in its largest market. The company also needs more domestic capacity as it struggles to keep its U.S. dealers stocked with vehicles, said John Murphy, founder of advisory firm Murphy Automotive Partners.
Credit: LUKE SHARRETT/BLOOMBERG NEWS
The company’s North American division swung to a loss in the year ended in March after taking a 1.38 trillion yen, or about $8.5 billion, hit to operating income from U.S. tariffs. Murphy, the auto industry analyst, called that “bonkers.”
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