Toyo Tire & Rubber Co. is considering expanding its U.S. tire production into new markets, according to a Bloomberg report.

The demand for products with higher profit margins, such as SUV and light truck tires, is where the company sees growth in the U.S., Toyo said.

"There’s no country like the U.S.," Toyo President Akira Nobuki told Bloomberg. "Manufacturing is making a comeback, and we can picture the scenario of jobs coming back, expanding, and for spending and purchases of cars growing."

The company may raise its annual tire output capacity in the U.S. to 8.5 million by early 2015, Nobuki said. Currently, the manufacturer gets about 36% of sales from North America. Annual tire production in the U.S. may be further increased to 10 million by 2020, he said, adding that with the rise in output, the company may consider additional locations in North America outside its White, Ga. facility.