Toyota is making its biggest investment ever in Argentina and Brazil as the car market in Latin America heats up. The company’s president for the region, Rafael Chang, confirmed that Toyota will spend $2 billion by 2030 to boost production and develop new models. This move comes as Chinese car brands, especially BYD and Great Wall Motors, are quickly gaining ground in the region. Toyota’s sales in Latin America reached 487,000 vehicles in 2024. Argentina and Brazil made up 60% of these sales. In Argentina, Toyota has led sales for four years, selling about 90,000 cars in 2024.
SOURCE: SHARE CAFE