Toyota announced, yesterday, that 6000 Toyota Camrys will be exported from its Kentucky plant to Korea, early next year, along with a undisclosed number of Toyota minivans.
Toyota claims that the exports will support over 20,000 American jobs. At present, Toyota exports over 100,000 American-made Toyota cars and trucks.
The step, also, is a good move for Korean consumers. The Camry will, now, likely compete head-on with mid-size Korean family cars. Now, the price of Toyota cars are not competitive because of trade and non-trade barriers that puts the Camry out of the radar screen of the average Korean consumer.
I doubt that many Koreans will be buying Camrys in large numbers, but likely the local Korean car manufacturers will be forced to keep their prices in line with the prices they charge consumers in the states.
- Camry Prices in Korea May be Cheaper from Next Year: Customer Benefits of the KORUS FTA
- Sales of Imported Cars Increase in Korea: American Cars Still Not Popular in Korea
- Why are American Cars not Popular in Korea?: Decrease in Duties from FTA has not Helped Market Share
- Benefits to Korea in Free Trade Agreements with EU, ASEAN, US and Chile?
- Price Fixing in Korea: Will FTA’s Lower Consumer Prices in Korea?
- KORUS FTA: Impacts on Trade & Investment for Korea and the States (Guest Post by NerdWallet Journalist)
- Positive Effects of Korea-EU FTA on Korean Car Brands? No Says Korean Car Lobby
- How post-FTA Wholesale and Retail Markets Work in Korea
- Opportunities for Australian and New Zealand Business in Korea
- South Korean Economy May be in a Slow Decline: Sign of M & A Increase in Korea?