Toyota India has changed sourcing plans for its upcoming small car plant in India due to rupee fluctuation against other currencies in the last 3-4 months. Toyota is actively considering changing components and equipment sourcing destinations in order to save on import bills. The fluctuation of currencies between yen and rupee has taken the bigger toll and the company has decided to import equipment and components from countries that would offer materials at lower cost. However, Toyota is in the process of finalising the import source.
“Depreciation of rupee (particularly against dollar) has been affecting us badly. We are doing a lot of research on what equipment to bring and how to install them in order to minimise the cost, for that we have cancelled some decisions and implemented some new,” Toyota Kirloskar Motor (TKM) Whole-Time Director Shekar Viswanathan said. “We will continue to import from Japan, some imports will happen from Thailand, Taiwan and Indonesia and some components will be locally sourced,” he added.
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April 6, 2009
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