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Toyota Confirms it Will Buy Rest of Daihatsu

Deal worth about $3 billion.

by on Jan.29, 2016

The Daihatsu Noridri concept first shown at the Tokyo Motor Show last year.

Confirming earlier reports out of Japan, Toyota says it plans to buy out the remaining 48.8% of microcar maker Daihatsu that it does not already control.

The deal, which will strengthen Toyota’s hand in the minicar market in both Japan and emerging markets, will involve a stock swap worth about $3 billion. The takeover is expected to be completed by late July.

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“We see this as the perfect opportunity to cement our relationship with Toyota, and, by doing so, to embark on a new period of growth, and to elevate the Daihatsu brand to a global standard,” Daihatsu said in a statement announcing the deal.


Toyota Getting Into Minicar Market

by on Sep.28, 2010

A minicar for Toyota, which will rebadge the Daihatsu Move Conte as one of its own models.

The minicar market is apparently a big deal for Toyota Motor Co.  The world’s largest maker will begin selling some of the pint-sized products produced by its Daihatsu subsidiary under its own brands.

The news, announced this morning from Japan, appears to be limited to the domestic home market, where 1.22 million minicars were sold during just the first eight months of this year.  But with growing interest in such vehicles abroad, particularly in such places as Europe, it remains to be seen whether Toyota will move to expand the distribution arrangement with Daihatsu.

Starting in autumn 2011, Toyota will distribute three minicars through its Corolla and Netz distribution networks.  Sales are expected to total about 60,000 vehicles annually.

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“The minivehicle market has been expanding lately and more of our customers are asking for them,” explained Toyota Executive Vice President Yoichiro Ichimaru, at a press conference in Tokyo.

The decision to tap Daihatsu for the new models will allow “our focus (to) remain on the non-Mini segment,” the executive added.  “But this way we will be able to meet the needs of such customers.”


Japanese Big Three Production Plunging

Japanese auto giants slammed by downturns in home, U.S., and other global markets

by on Mar.26, 2009

The problem is that sparks are no longer flying on Japanese assembly lines as the Great Recession deepens.

Sparks are no longer flying on Japanese assembly lines as the Great Recession deepens.

While there are no indications Toyota Motor Corporation might need the same sort of desperation-driven financial bailout sought by its arch-rival General Motors Corporation, the situation is certainly getting more critical for the Japanese company, which, only last year, became the best-selling automotive manufacturer in the world. The same crisis is also affecting Honda Motor Corporation and Nissan Motor Company. All three of  these Japanese giants are shrinking from startling production cuts of 40-50% in February.

The problem is that the automotive world is getting smaller in every market the Japanese Big Three compete in.  If the latest projection by the Japanese Automobile Manufacturers Association holds true, that country’s new vehicle sales will hit a 32-year-low when data is tallied up at the end of the current fiscal year, which wraps up on March 31st.  For the fiscal year, Japanese sales are off a seemingly modest 8%, but that market has never really recovered from the slump it entered, more than a decade ago, and annual sales are expected to hit just 4.3 million, about half of Japan’s one-time peak.

For decades, Japanese makers like Toyota have shifted focus to export markets, such as North America, but the global slump is taking a steadily worsening toll.  For Japan, as a whole, its manufacturers – of everything from clothing to cars to computers – saw exports plunge by half last month. (more…)