Toyota announced yesterday that it is going to team up with Daihatsu to get into the minicar market. under a new agreement, subsidiary Daihatsu Motor Co. will develop three minicars for Toyota starting in stages from autumn 2011 in Japan.
Toyota will sell the models through its domestic Corolla and Netz dealerships and expects annual sales to hit about 60,000 units once all three models are on the showroom floor.
“The minivehicle market has been expanding recently, and more of our customers have been asking for them,” said Toyota Executive Vice President Yoichiro Ichimaru.
Minicars currently make up about a third of Japan’s annual vehicle sales.
– By: Omar Rana
Source: Free Press