A host of factors including shortage of hard currency, vehicle parts and severe recession had earlier stalled Toyota’s manufacturing activity in Venezuela.

In a move that bodes well for Toyota and for the Venezuelan economy, Toyota has disclosed that it has restarted its production lines in that country which were in-operational for the last six months due to a shortage of currency notes.

The South American country is suffering from a severe recession which has resulted in the closure of many factories.

Manufacturing activity in automobiles have slumped by 86% during the first six months of this year due to a shortage of parts, most of which were imported.

“A few weeks ago, we restarted our assembly operations here in the Cumana plant for our three models, Corolla, Hylux and Fortuner,” said Rafael Chang, Toyota Venezuela’s president, in a televised event.

Chang went on to add, Toyota plans to export its cars from the country from the first half of 2017. Its cars will also be sold in Venezuela’s domestic market.

Toyota has been exporting parts from Venezuela as a means of keeping its operation afloat in that country.

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Tags: Top, Toyota, Venezuela, recession, South America, manufacturing activity, shortage of vehicle parts, economy, exports, finance, currency shortage, Corolla, Hylux, Fortuner