Toyota stock dips after Trump tweet on planned Mexico plant
Friday, 6 January 2017 () TOKYO (AP) — Toyota Motor Corp. is a "good corporate citizen" and intends to work with President-elect Donald Trump to help make America strong, the Japanese automaker's president, Akio Toyoda, says. [...] of pressures from Trump on automakers to shift more manufacturing into the U.S., the outlook for Japanese car makers has brightened lately as the yen has weakened and Tokyo share prices have risen following the U.S. election. Trump's tweet on Toyota echoed others targeted at Ford Motor Co. and General Motors Co. Nearly all automakers build small cars in Mexico to take advantage of its lower wages. Toyota said it has invested over $21.9 billion in its U.S. operations, including 10 manufacturing facilities, 1,500 dealerships and 136,000 employees. "Toyota looks forward to collaborating with the Trump administration to serve in the best interests of consumers and the automotive industry," the company said in a statement.
Toyota Motor Corp. plans to invest $10 billion in the United States over the next five years, including its new North American headquarters under construction in... bizjournals - BusinessAlso reported by •Newsmax