Toyota ends Land Cruiser production in Russia but remains bullish on market's prospects

TOKYO (Reuters) -- Toyota has stopped creation of the Land Cruiser Prado SUV in Russia but stated it's no plans to pull from the disaster-hit marketplace.
Toyota constructed the sport utility vehicle in Vladivostok, eastern Russia, under a partnership with Japanese trading company Mitsui & Co and Russian automaker Sollers. Creation was discontinued in late June, a Toyota spokeswoman stated.
Toyota now exports about 1,030 Land Cruisers monthly to Russian Federation from its plant in Tahara, Japan, she stated. That is in regards to the exact same amount formerly assembled in the Vladivostok plant.
Toyota stays bullish on Russian Federation, declaring it's no plans to pull from the united states. It stated its strategy to double yearly output to 100,000 models at its currently just Russian plant in Leningrad by the end-of this year is still on course.
"There will be tides in the [Russian] marketplace but we should improve sales, not decrease," the spokeswoman stated.
Toyota now assembles the Camry midsize sedan in Leningrad and will include the RAV 4 SUV next year, according to Automotive News Europe's interactional assembly plant map.
International automakers have already been fighting to keep sales in the once-promising Russian marketplace. Vehicle sales have halved from their peaks in 2012-2013 as lower oil costs and Western sanctions over Moscow's part in the Ukrainian battle fuel an economic depression.
In the initial seven months, revenue dropped 35% to 913,181 automobiles, according to information from the Organization of European Companies in Russian Federation. Toyota's manufacturer revenue dropped by 37% in exactly the same interval.
General Motors Co. said in March it'd close its St. Petersburg plant this year to make do with a protracted sales slump.
Contact Automotive News

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Marketing

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18.08.2015
ID:2681

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