Toyota plans to build two more auto plants in the United States, Nos. 7 & 8, in the next five years, the Wall Street Journal is reporting.
For Toyota to accomplish what it calls the "Global 15" plan, a code-word for the auto maker's goal to displace GM as the world's biggest auto maker, "you have to have growth in the U.S.," Mr. Cuneo said. "No matter how much growth you may have in emerging markets, you have to grow in North America. It's a profitable market so it makes a lot of sense."One reason it wants to do this:
A major source of that confidence also comes from America's unusual position in demographics among industrially advanced nations. Toyota Chairman Hiroshi Okuda has argued that a continued population growth in the U.S. through 2030, thanks largely to a strong pace of immigration, would most likely keep American's consumers relatively young and demand for vehicles vibrant.It's why we named it the smartest company of the year.