NAGOYA (Kyodo) Toyota Motor Corp. said Tuesday it will start selling minivehicles produced by its subsidiary Daihatsu Motor Co. under its own brand to shore up sales now that a government stimulus measure to buy new cars has run out.
Three Daihatsu models will be made under the Toyota brand, the world’s biggest automaker said, adding it hopes to sell 60,000 minicars a year.
Toyota aims to enhance sales by marketing minivehicles, which account for more than 30 percent of the domestic auto market, because new vehicle sales are expected to drop after the subsidy program to encourage the purchase of environmentally friendly cars ended earlier this month.
After forming a business alliance with Daihatsu in 1967, Toyota made the company a subsidiary in 1998. The two automakers have cooperated in developing compact cars.
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