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Fiat Chrysler, GM, Toyota near deals to resume Venezuela output

June 24, 2016

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Fiat Chrysler Automobiles NV, General Motors Co. and Toyota Motor Corp. are close to agreeing to resume car manufacturing in Venezuela after the government allowed them to sell output in dollars, according to people with knowledge of the talks.

The plan is similar to an arrangement Ford Motor Co. reached last year. Under that accord, Venezuelans pay Ford dealers up front in a dual currency plan: dollars for production materials, which are imported from abroad; bolivares to cover the costs of assembling their vehicle locally.

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