Toyota’s Etios Cross
Through its subsidiary Maruti Suzuki India, Suzuki would supply Toyota with 30,000 to 50,000 units of Baleno and Vitara Brezza annually, while, Toyota will provide Suzuki with about 10,000 Corolla (hybrid and gasoline) units. UBS raised shares of Toyota Motor from a "sell" rating to a "neutral" rating in a research report on Tuesday. Or imagined Toyota selling Maruti Suzuki Baleno and Vitara Brezza and vice versa? This includes 230,995 UVs for a market share of 27.82 percent (+1.89% YoY).
USA Financial Portformulas Corp lessened its position in Toyota Motor Corp (NYSE:TM) by 35.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission.
Since February 6, 2017, when Toyota and Suzuki concluded a memorandum toward business partnership, the two companies have been exploring concrete projects for collaboration in areas including environmental technology, safety technology, information technology, and the mutual supply of products and components.
The latest announcement reflects the progress both companies have made together.
The two companies agreed previous year to form a business partnership in a variety of fields. More recently, on March 22, Ford Motor Co and Mahindra & Mahindra announced plans to jointly develop SUVs, EVs and connected vehicle solutions.
Analysts said the deal would help Toyota broaden its reach in India, where it has been having difficulty raising sales, due to weak demand for its lower-cost models.
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Key implications from Toyota's perspective will be gaining access to Suzuki's biggest market - India. Toyota sells its vehicles in approximately 190 countries and regions.
Toyota's alliance with Suzuki has had a direct impact on Daihatsu's plans of entering India.
Toyota and Suzuki will produce the models for each other as original equipment manufacturers, and these will be included into each others' branded offerings, the companies said. As sales level off in the USA and Japan, Toyota must find a way to penetrate emerging markets. Under the terms of the agreement, cars built by Suzuki will be rebranded and renamed as Toyota vehicles, while Toyota's will have the Suzuki badge on them.
From Suzuki's perspective, it has limited capability in developing hybrid and electric powertrains while Toyota is well known for its alternative fuel technologies especially with its eco-friendly hybrids - the Prius, Camry and the Corolla. An additional 50,000 units could push Toyota's annual sales above those of Honda Motor and Tata Motors, but it will still lag far behind the top three manufacturers - Suzuki, Hyundai Motor Co and Mahindra & Mahindra.
For the vehicle models covered by the basic agreement, the two companies will enhance their efforts to procure components locally to the extent possible toward the achievement of the "Make in India" initiative promoted by the Indian government.
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