We guess you know that Toyota Tacoma became very popular in the U.S. According to the latest news reports, Toyota is going to invest $150 million in its plant in Tijuana, Mexico, expanding production of the Tacoma midsize pickup truck. This indicates a healthy midsize truck market.
The Japanese automaker claims it aims to increase production by 60,000 trucks a year.The reason of expansion of the Tacoma cars was explained by the Toyota North America CEO Jim Lentz, who said that demand for trucks has grown exponentially. At the moment, the plant builds a bit more than 100,000 trucks a year. The automaker claims it will add 400 jobs. Production from the Tijuana plant will be added to the output from Toyota's San Antonio plant, which builds Tundras and Tacomas.
Toyota said that sales of the Tacoma and Tundra are limited by production capacity, so investments like these are necessary to keep both trucks competitive. David Crouch, vice president of administration and production control at the San Antonio plant, said that dealers often lack inventory on the lot to effectively sell to shoppers. The segment has been virtually ignored for years save for Nissan, Toyota, and Chevrolet. Only the latter two have introduced significantly new vehicles in the last few years. Toyota's expansion shows that there's still money to be made and room for growth in the market.