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Toyota teams up with Daihatsu in minicars

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Toyota teams up with Daihatsu in minicars

Tomoko A. Hosaka / Associated Press

Tokyo -- Toyota Motor Corp., the world's biggest automaker, is getting into the minicar market.

The company said today that it would expand its product line to include minivehicles made by subsidiary Daihatsu Motor Co. starting in stages from autumn 2011 in Japan.

Under the agreement, Daihatsu will produce three models for Toyota, which will sell them through its domestic "Corolla and "Netz" dealerships. The companies said they expect annual sales of about 60,000 minivehicles once all three models hit showrooms.

"The minivehicle market has been expanding recently, and more of our customers have been asking for them," said Toyota Executive Vice President Yoichiro Ichimaru at a joint press conference.

Such deals are called an OEM, or "original equipment manufacture," agreement in the auto industry. That means one automaker -- Daihatsu in this case -- supplies products to another company to sell under its own brand.

Mini vehicles are defined by specifications unique to Japan: maximum length of 3.4 meters (11.15 feet), width of 1.48 meters (4.86 feet), height of 2 meters (6.56 feet) and engine displacement of less than 660 cc.

The category is popular in Japan for its money-saving potential, including lower fuel costs and taxes. They currently comprise about a third of Japan's annual vehicle sales.

Automakers have sold 1.22 million mini vehicles in Japan this year through August, a rise of about 8 percent, according to the Japan Mini Vehicles Association. Daihatsu, which is 51 percent owned by Toyota, holds top share of Japan's competitive minivehicle market.

The companies also said they will discuss other ways to collaborate in Japan using Toyota's experience in green technologies, including hybrid and electric vehicle know-how. Products will be decided by the end of 2011, they said.

From The Detroit News: http://www.detnews.com/article/20100928/AUTO01/9280387/1148/auto01/Toyota-teams-up-with-Daihatsu-in-minicars#ixzz10pQSo64w

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Toyota teams up with Daihatsu in minicars

By TOMOKO A. HOSAKA

Associated Press

Toyota Motor Corp., the world's biggest automaker, is getting into the minicar market.

The company said today that it would expand its product line to include minivehicles made by subsidiary Daihatsu Motor Co. starting in stages from autumn 2011 in Japan.

Under the agreement, Daihatsu will produce three models for Toyota, which will sell them through its domestic "Corolla and "Netz" dealerships. The companies said they expect annual sales of about 60,000 minivehicles once all three models hit showrooms.

"The minivehicle market has been expanding recently, and more of our customers have been asking for them," said Toyota Executive Vice President Yoichiro Ichimaru at a joint press conference.

Such deals are called an OEM, or "original equipment manufacture," agreement in the auto industry. That means one automaker — Daihatsu in this case — supplies products to another company to sell under its own brand.

Mini vehicles are defined by specifications unique to Japan: maximum length of 11.15 feet, width of 4.86 feet, height of 6.56 feet and engine displacement of less than 660 cc.

The category is popular in Japan for its money-saving potential, including lower fuel costs and taxes. They currently comprise about a third of Japan's annual vehicle sales.

Automakers have sold 1.22 million mini vehicles in Japan this year through August, a rise of about 8%, according to the Japan Mini Vehicles Association. Daihatsu, which is 51% owned by Toyota, holds top share of Japan's competitive minivehicle market.

Daihatsu shares surged in trading today ahead of the announcement. The issue rose 3.2% on the Tokyo Stock Exchange compared with benchmark Nikkei 225 index's 1.1% decline. Toyota fell 0.7%.

The companies also said they will discuss other ways to collaborate in Japan using Toyota's experience in green technologies, including hybrid and electric vehicle know-how. Products will be decided by the end of 2011, they said.

Read more: Toyota teams up with Daihatsu in minicars | freep.com | Detroit Free Press http://www.freep.com/article/20100928/BUSINESS0104/100928009/1210/business01/Toyota-teams-up-with-Daihatsu-in-minicars#ixzz10pTLohEe

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TOYOTA TO UNVEIL NEW MINICAR BRAND FOR JAPAN

By Andrew Ganz

In an effort to better compete in Japan's burgeoning minicar sector, the country's largest automaker says it will finally introduce a new brand aimed solely at the domestic market.

Toyota says it has inked a deal with Daihatsu, which will supply a trio of minicars beginning in 2011. Toyota, which is the only major automaker in Japan not to have its own minicar brand, owns 51 percent of Daihatsu.

Demand for minicars has increased dramatically in Japan thanks to tax incentives that favor the small cars, which feature engines displacing less than 660 cc. Toyota hopes to carve out a slice equal to about 60,000 units for its Daihatsu-supplied minicars.

Minicars currently compose about a third of Japan's overall new car market, but key industry players - like Honda CEO Takanobu Ito - say that the share could grow to as much as 50 percent in the near future.

link:

http://www.leftlanenews.com/toyota-to-unveil-new-minicar-brand-for-japan.html

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