Toyota to invest $10 billion in US over five years

[NWCorona]

Source: CBC

Toyota Motor will spend $10 billion in U.S. capital investments over the next five years, matching the Japanese automaker's investments over the prior five years, North America chief executive Jim Lentz said on Monday.

The automaker has come under fire from President-elect Donald Trump for announcing in 2015 plans to shift production of its Corolla to Mexico from Canada. Lentz said in an interview at the Detroit auto show the decision is not a response to Trump but part of the automaker's business strategy to invest in the United States, where it has 10 plants in eight states.

Lentz said the planning for the new Mexico plant began about two years — if not earlier — before it was announced in 2015. These are long-term decisions, he said. Lentz said he has not spoken with Trump.

The $10 billion includes Toyota's new North American headquarters in Texas that is under construction and big improvements to its plants.

Read more: http://www.cnbc.com/2017/01/09/toyota-to-invest-10-billion-in-us-over-five-years.html

[haele]

1. Well, maybe. They may pull back a bit when our economy heads south.

If fewer U.S. consumers will be able to purchase or lease new cars, they don't need to make them here. Everything I've seen of the GOP/Ryan budget plans favors already well off rentiers - people who's majority income is off investments or payments, not workers or small family/start-up businesses.
Even their so-called "tax breaks for the middle class" work only if you're making over $150K a year and don't have a lot of dependents and aren't trying to finance a style of living that can only be sustained with an annual income of $300K.

How many people will be able to afford five years of payments on a $28K - $40K new car when they're only making $50K after taxes and still have to "be 100% responsible" for their own education, health-care and projected retirement per the GOP economic plan? Not to mention the devastation to credit scores a good number of working Americans are still experiencing due to the 2009 crash and slow recovery.

Haele

[tenorly]

2. "...includes Toyota's new North American headquarters in Texas THAT IS UNDER CONSTRUCTION"

Meaning that this was decided at least a year ago already.

[NWCorona]

3. Yes. Toyota President Akio Toyoda was very clear when this was announced in Detroit

That this has nothing to do with Trump

[tenorly]

5. Unfortunately, Trumpkins never let facts get in the way of a good story.

Like children, really.

[Coventina]

4. Trump takes credit in 3....2....1....

[NWCorona]

7. And like clockwork

Fiat Chrysler smacks down Trump’s boasts: President-elect not involved in company’s job creation

http://www.rawstory.com/2017/01/fiat-chrysler-smacks-down-trumps-boasts-president-elect-not-involved-in-companys-job-creation/

[Hortensis]

6. Toyota also invested $10B last five years, and "left unsaid

is that obviously they've not decided to do this because of a soon to be President's tweet."
... "The move follows similar commitments to U.S. production made by competitors Ford and Fiat Chrysler." (From Forbes)

Trump's tweet about Toyota had no more to do with this than his tweets about Meryl Streep.

Btw, Toyota Motor's total annual revenue as of 3/2015 was $252,708,000,000. Gross profits $51,580,000,000.