Toyota to move Corolla production to Mexico to cut costs: Globe and Mail

April 15, 2015 5:40 AM

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Toyota to move Corolla production to Mexico to cut costs: Globe and Mail

(Reuters) - Toyota Motor Corp (7203.T), the world's biggest automaker, plans to move production of its Corolla compact cars to a new factory in Mexico from Canada to benefit from lower costs, the Globe and Mail reported, citing sources familiar with the situation.

Costs at Toyota's assembly plants at Cambridge and Woodstock in Ontario are higher than at its U.S. factories and it makes sense to produce the more expensive vehicles in Canada, the newspaper quoted sources familiar with the matter as saying.

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