Toyota Keen To Learn From Suzuki's India Success Story

Earlier this year, Toyota and Suzuki agreed to begin concrete examinations for business partnership in areas of environment, safety and information technology along with supply of products and components.

By PTI

1 mins read

Published on October 25, 2017

Highlights

The two had announced to supply products and components together
Toyota has set a target of selling 2 million units by 2020
Maruti Suzuki commands almost 50% of passenger vehicles segment

Japanese auto major Toyota today said it will act as a student to Suzuki when it comes to India where it's compatriot is a "master". Earlier this year, the two auto majors had agreed to begin concrete examinations for business partnership in areas of environment, safety and information technology along with supply of products and components. Suzuki's Indian arm, Maruti Suzuki is the market leader in the country commanding almost 50 per cent of the passenger vehicles segment there. The company has set a target of selling 2 million units by 2020. It crossed 1.5 million units last fiscal. Also Read: Toyota And Suzuki Officially Confirm Technology Partnership Agreement "So, Suzuki is a master of India" and Toyota can learn a lot of things from them as "they are teacher, we are students," Hiroyuki Fukui, Managing officer, Toyota Motor corporation, CEO, Asia, Middle east and North Africa region, told reporters here. He said that competition in Indian market is very fierce. Suzuki has a long history in India and they know the country's market and consumers well, he added. On Toyota's partnership with Suzuki, he said: "We have just announced the collaboration but we do not rush to make a conclusion so we know each other and what is a good point, what Toyota would like to do, what Suzuki would like to do, it will be a win win solution." When asked whether the company would look for Daihatsu in future for India, he said "possible. Nothing is impossible". He added that the company is exploring India's potential as "We do not rush". (This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)