Daihatsu eyes top spot in Japan’s small car market

Daihatsu Motor Co. President Teruyuki Minoura announced that the firm aims to take the largest share in Japan’s shrinking market of small cars (up to 660 cc engines) for the third consecutive year in 2009, while vowing to ride out the global economic slump through further cost-cutting measures. However, he admitted that the worsening economy is slashing demand for even the firm’s cheaper but fuel-efficient mini-vehicles that have enjoyed buoyant sales growth until very recently. “We want to keep our sales at the same level as the previous year, or increase them further and expand our share in the domestic small car market,” Minoura said. Daihatsu’s sales figures have suffered since late 2008. The company set up a committee in January to discuss which investments it can cut in order to cope with rapidly changing business conditions. (January 27, 2009)