Nov. 22, 2001
Daihatsu Motor Co., Ltd. (DMC) and Toyota Motor Corporation (TMC) have begun producing the Terios, a small 1300-cc passenger car, in Venezuela. Production began on 21st November at Toyota de Venezuela C.A. (TDV) in Cumana City.
A line-off ceremony was held at TDV the day production began. Venezuelan government officials attended the event, joining DMC President Takaya Yamada, TMC Director Yukitoshi Funo, and others involved in the project.
With the Venezuelan government launching a "family car" campaign aimed at boosting sales of compact cars, the "family car" category now accounts for about half of all passenger car vehicles sold in Venezuela. Sales are expected to continue rising.
The Terios overseas project addresses TMC's desire to introduce a suitable car in this expanding market segment, while also aligning with DMC's overseas business strategy. The companies moved quickly in their joint efforts, with the first Terios rolling off the assembly line only 10 months after the project was begun.
The arrangement calls for DMC to export CKD units to Venezuela for production and marketing. TDV is marketing the "family car" Terios under the Daihatsu name, together with models that have not received "family car" designation, through its dealer network. Sales will begin 1st December, with an annual sales target of 6,000 units.
Outline of Toyota de Venezuela C.A. (TDV)
|Established||1957 (TMC investment from 1989)|
|Location||Cumana City (northeast Venezuela)|
|Investment||90% TMC, 10% Aracne S.A. (local partner)|
|Production capacity||24,000 units/year (single shift)|
|Sales results (Calendar year 2000)||19,905 units (Corolla, Land Cruiser, Dyna, others)|
Venezuelan Terios Specifications
|Category||Family Car||Non-family Car|
|Engine type||K3-VE (4-cylinder, 16-valve) VVT-i|
|Transmission||5-speed manual||4-speed automatic|