Toyota restarts production in Venezuela after six months
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
Toyota automobile logo seen in Paris, France, February 19, 2016. REUTERS/Mal Langsdon
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
(Reuters) - Toyota <7203.T> said on Friday it had restarted its Venezuelan factory after six months without producing vehicles because of hard currency shortages, good news for the South American nation suffering a roiling recession that has closed many factories
Auto output in Venezuela plunged 86 percent in the first six months of the year because of shortages of parts, most of which are imported.
"A few weeks ago, we restarted our assembly operations here in the Cumana plant for our three models, Corolla, Hylux and Fortuner," said Rafael Chang, Toyota Venezuela's president, in a televised event.
The company plans to start exporting cars in the first half of 2017 as well as supplying the local market, the executive said. Since last year, Toyota has been exporting parts from Venezuela as a way of keeping its operations afloat.
(Editing by Nick Macfie)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Forensic police examine Australian theme park ride that killed four
- AT&T's DirecTV Now online video service to cost $35 per month
- Exclusive: Nevada gambling regulator probes Las Vegas Sands over front gamblers
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!