To sign up for Analytiqa's free weekly newsletter, please enter your details below.
Analytiqa will not share this information with third parties.
Exporting more and more vehicles within Latin America
In March 1997, the first Hilux pickup truck rolled off the line at Toyota's production facility in Zárate, Argentina. At the time, the plant was only capable of producing around 20,000 vehicles per year. Almost twenty years later, following the successful completion of a major new expansion, the plant now will now gradually work its way up to a capacity of roughly 140,000 vehicles.
When the expansion plan was originally announced in September 2013, the plant's capacity was 92,000 units. Toyota aimed to encourage regional exports of two segment leaders: the Fortuner (sold locally as the SW4) and the Hilux. The addition of 48,000 units worth of capacity has also generated one thousand new jobs, bringing the total employee tally to roughly 5,000 and making this a milestone of significant importance to the local community.
On March 4, Toyota Argentina S.A. (TASA) celebrated the completion of the project at a ceremony attended by the president of Argentina, Mauricio Macri, in addition to the governor of Buenos Aires Province, María Eugenia Vidal; the Japanese ambassador, Noriteru Fukushima; and other national and local authorities. Toyota Motor Corporation Executive Vice President Seiichi Sudo also took part in the ceremony, commenting that, "This project is one of the biggest investments we have made since the global financial crisis in 2008. With this, we are going to export more and more vehicles within Latin America. We hope to continue contributing widely to the development of the automotive industry, communities, and the local economy."
"With this expansion, we believe that the new Hilux and SW4 will be able to reach new export destinations in Latin America," said Daniel Herrero, president of Toyota Argentina. "The results obtained by the Hilux, in our country and throughout the region, make us all proud. During 2016, we will produce our one millionth Hilux in our totally renewed plant."
The expansion of Toyota's production operations in Argentina began in 2002, when the company announced an investment planned to make Zárate Plant a production and export hub for multipurpose vehicles. This was consolidated in March 2005 with the launch of the IMV (Innovative International Multipurpose Vehicle) project. With the success of the Hilux and the Fortuner, Toyota has revolutionized the regional market.
As part of the expansion of the IMV project, production numbers in 2005 went from 19,350 to 46,000 units. During 2006, production was further increased to 65,000 units annually. Then, through a new investment in 2012, the production capacity was increased to 92,000 units per year.
The latest project has significantly expanded the plant's size, adding 110,260 square meters of new buildings and 80,000 square meters of new logistic yards. Having witnessed impressive growth over the last twenty years―from the start of production in 1996, through to the development begun in 2002, and culminating with the current project initiated in 2013―Toyota Argentina has reached new heights.