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Japanese automakers Toyota Motor Corp (NYSE:TM) and Nissan Motor Co. Ltd. (OTC:NSANY) could import their own U.S.-made vehicles to Japan in a bid to curry favor with the Trump administration, according to a report published Thursday.
"Rather than doing it for business reasons," Takaki Nakanishi, an expert cited in the report by Reuters, said that the companies are mulling imports as a way to showcase cooperation by them "to reduce trade friction and the trade deficit."
Nakanishi added that volumes could stand at 20,000 units annually.
However, any decisions to undertake reverse imports would require the government to help the companies. "We can’t just import those vehicles into Japan ‘as-is'," Koji Sato, Toyota's CEO, had told reporters at the Tokyo Mobility Show, the report said.
Vehicles in Japan drive on the left side of the road and are right-hand drive compared to the U.S., where cars are driven on the right side of the road and are left-hand drive, presenting a major challenge for the automakers’ import ambitions.
The news comes as Toyota clarified that it did not specifically promise an investment in the U.S. of over $13 billion, adding that the figure represents an investment the company made during Trump's first term in office.
Meanwhile, Trump had asked people to "buy a Toyota," touting the Japanese automaker's investment in the U.S. market while addressing troops stationed in Japan.
Toyota showcased a production growth of 11.1% during September, a fourth consecutive month of production growth for the company, citing a strong demand for its hybrid vehicles in the U.S. as one of the driving factors for the growth.
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