Toyota aims to boost Brazil exports with locally made engines

SAO PAULO, March 16 (Reuters) – Toyota Motor Co will soon begin selling Brazilian-made Corollas in Peru, executives said on Thursday, and is in advanced studies to export from Brazil to Chile and Colombia in a push to make its South American plants more competitive.

Steve St. Angelo, Toyota’s most senior executive in the region, said the exports to Peru were part of a long-term plan to integrate Brazilian operations with the rest of Latin America, which has long imported Corollas from the United States.

Toyota’s Brazilian factories, which exported only to Argentina when St. Angelo arrived in 2013, also send the mid-sized Corolla sedan and smaller Etios to Uruguay and Paraguay now.

Toyota has invested in a new engine plant and engineering facilities in Brazil, which St. Angelo said would be key to lifting the domestic content of the Corolla and Etios from about 60 percent currently. As Brazilian plants import fewer parts, they should…