The invention provides methods of engineering guayule plants to increase latex production. Specifically, the invention provides a method of engineering guayule plants with gene constructs that allow expression of master regulators of stress responses under non-stress conditions, the method comprising: introducing an expression cassette into the guayule plant, wherein the expression cassette comprises a polynucleotide encoding a dehydration response element binding protein/C-repeat binding factors (DREB/CBF) or DEAR [DREB and C-terminal EAR (ethylene response factor associated amphiphilic repression) motif] transcription factor operably linked to a promoter, such as a stem-specific promoter or an alcohol-inducible promoter. The invention additionally provides plants engineered in accordance with the invention and methods of using the plants to produce latex.