Toyota to close Venezuelan plant for two weeks
Car production in the country has dropped 30% from January to September.
Toyota is closing its plant in Venezuela for a two-week period later this month, according to a Reuters report. The facility will remain shut down from 28 October to 11 November because of delays in getting funding from the state currency board, which has in turn caused a shortage of materials. President Nicolas Maduro's government is working to get more investment to businesses, especially importers, amid shortages, reports Reuters.
Thank you for visiting S&P Global AutoTechInsight.
*A subscription to News & Analysis includes four S&P Global-selected sector-specific analytical pieces per month. Access to all analytic pieces across all domains comes with a subscription to All Domains. Please click here to subscribe.
To get access to the AutoTechInsight full suite of services, please contact a sales representative by clicking here.
Already a subscriber? Please log in here