According to a report on June 14 by Reuters, Daihatsu Motors announced that it will launch small cars in Brazil. Its parent Toyota expects to increase its market share in emerging markets and produce inexpensive cars.
Daihatsu is a subsidiary of Toyota and specializes in producing affordable, durable compact cars. Toyota hopes to apply Daihatsu's technology to the development of its own models to cope with the increasing cost and fierce competition.
Soichiro Okudaira used to be the CEO of Toyota Motor R&D Center and was responsible for the development of the latest two-generation Toyota Corolla. In early June, he was transferred to Daihatsu Motors as its president. He said, "Small cars have market potential in Brazil and other places. Toyota sells these models in Asia and South America, and Brazil has always been an important market for Carroll and other series models, although those models are relatively larger. "But he declined to disclose the company's specific date of expansion and development in Brazil.
Toyota’s market share in Brazil is about 9%. There are small hatchbacks Etios, Corolla and Camry as well as SUVs and trucks. The main competitors are Fiat Chrysler, GM and Volkswagen.
Brazil is one of the top ten auto markets in the world. However, due to its economic recession and political turmoil, the auto sales in this market have continued to decline in recent years, which is not conducive to business expansion. In Brazil, the total automobile sales in 2016 was about 2 million vehicles, which was a sharp drop from the 35 million vehicles in 2010.
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