News Summary: Toyota may up N. America production

AP News
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Posted: Aug 08, 2012 7:23 PM

REVVED UP: Jim Lentz, president and CEO of Toyota Motor Sales U.S.A., said he expects his company will add jobs and build more models in North America as a hedge against a strong Japanese yen.

PAINFUL YEN: A strong yen cuts into overseas earnings for all Japanese automakers, and makes it harder to offer products at cheaper prices abroad.

PICKING UP SPEED: Lentz said Toyota already makes around 70 percent of the models sold in North America in the region. He expects that percentage to grow.