Toyota Motor Corporation Mulling Exporting European Cars

Toyota Motor Corporation (NYSE:TM) is considering importing cars from Europe to Korea.

Toyota Motor Corporation Mulling Exporting European Cars

Toyota Motor Corporation (NYSE:TM) said that it is studying the possibility of importing European-built cars to South Korea, as the strong yen makes Japan-built cars uncompetitive in the Korean market.

The company has not yet made any decisions regarding this.

It started importing cars from the US last year and already sells US built Sienna minivans and Camry sedans in Korea.

Toyota Motor Corporation (NYSE:TM)’s chief executive for South Korean operations Tommy H. Nakabayashi said, “Toyota Motor Corporation (NYSE:TM) plans to seek more business ties with South Korean auto-parts makers, including Hankook Tire Manufacturing Co., the country’s largest tire maker by sales, if the prices and other terms are reasonable”.

Toyota Motor Company (NYSE:TM) shares are currently standing at 83.22.

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