Maki Shiraki
TOKYO (Reuters) – A controversial scandal Toyota Motor (NYSE:) subsidiary Daihatsu aims to fully resume vehicle development by the end of this year, the compact car maker’s president told reporters, adding that he sees opportunities in South America and Africa.
WHY IS IT IMPORTANT
Last year, Daihatsu said it rigged safety tests on about 88,000 small cars, most of them sold under the Toyota brand, in a scandal that poses a reputational risk for Japan’s largest automaker.
New president Masahiro Inoue was sent in from Toyota to turn Daihatsu around and put it on a path to growth. The resumption of new vehicle development will be an important milestone.
KEY QUOTES
“Once we identify measures to prevent a recurrence (of the certification issue), we would like to move forward as early as the end of the year,” Inouye said of full development, adding that minor changes to models could happen even sooner. .
“Emerging markets are perfect for us, as if we were throwing a fastball right into the middle of the strike zone,” he told reporters during an April 22 roundtable. His comments were blocked on Wednesday.
“South America and Africa” are markets whose development should be a focus over the next ten years, he said.
CONTEXT
*All but one Daihatsu model has been confirmed as meeting domestic standards and deliveries have resumed.
*Inoue previously headed Toyota Latin America.
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