Venezuela Said to Weigh Dollarization to Save Auto Industry
- Fiat Chrysler, GM and Toyota will offer models in dollars
- Auto parts are paid for in dollars and assembled in Venezuela
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Fiat Chrysler Automobiles NV, General Motors Co. and Toyota Motor Corp. are close to resuming manufacturing in Venezuela after the government allowed them to sell output in dollars.
Toyota plans to restart production lines in August, offering Corolla, Hilux and Fortuner models, spokesman Luiz Carlos Andrade Jr. said via e-mail. Fiat Chrysler reached an agreement with the government last week, and GM is planning to begin assembling some models locally next month, according to people with knowledge of the talks who weren’t authorized to speak about the companies’ plans.