Automobile producer Toyota expects to increase output at its Sorocaba plant in Brazil 23% from the previous year.
The company's goal is to produce 154,000 vehicles at the plant in 2019, from 125,000 mt units produced in 2018, it said. The Sorocaba plant is responsible for production of the Yaris and Etios.
Toyota expects to produce over 225,000 units in Brazil during 2019, which would be a record. The company also expects to increase its shipments in 9.5% compared with 200,000 sold in 2018.
In 2018, the company concluded an investment cycle of Real 2.6 billion in its operations.
In March, General Motors announced an investment plan of Brazilian Real 10 billion for the 2020-2024 period.
The automotive sector represents around 22% of apparent steel consumption in Brazil. Gerdau, targeting Brazil's automotive sector, said it would invest Real 550 million in its Pindamonhangaba special steel plant in November. The investment aims to boost the plant's capacity to 1 million mt/year of crude steel from 620,000 mt/year, aiming to produce steel high-quality steel for hybrid and electric vehicles.
Usiminas also said in October that its three galvanizing lines were being used at full capacity and that the company was prepared to meet the new growth in the automotive industry. At the time, Usiminas had said the auto industry was its focus and that the new galvanizing line would be important in the future for the automotive market.
ArcelorMittal Tubarao, another domestic steelmaker, said in January it was operating its flats mill near its 7.5 million mt/year capacity. The company was optimistic about rising steel consumption in Brazil, driven by the automotive industry.
The steelmaker also saw an opportunity for expanding hot-rolled coil capacity in Brazil by 2030, with demand expected to start booming in 2027-2028. The expansion would be in line with the $330 million investment announced in 2018 at its rolling mill Vega in the southern state of Santa Catarina.
