Toyota Nezas dealership in Myanmar to begin selling in 2020
BANGKOK, NNA - Nezas Holdings Ltd., a Toyota Motor Corp. dealership, will open a shop in Yangon early next year. It will be the first foray into Myanmar by a Toyota-related car sales group.
A showroom is under construction in Mayangone Township, the northern part of the country's commercial capital, a Nezas spokesman told NNA on Friday.
Nezas and Hinthar Group Holdings Co., a local diversified business group, established Hinthar Nezas Co. to run the outlet. It will sell models imported from Indonesia, Japan and Thailand while providing maintenance services, the spokesman said.
The joint venture is capitalized at $3.9 million. It is 60 percent owned by Hinthar and 40 percent by Nezas, which is based in Utsunomiya, Tochigi Prefecture, north of Tokyo.
Toyota currently sells cars in Myanmar via two authorized dealers, one established by major Japanese trading house Mitsui & Co. and the other by its trading arm Toyota Tsusho Corp.
In the Myanmar new-vehicle sales market, Japan's Suzuki Motor Corp., which began local production in 2013, has a nearly 60 percent share, selling 10,330 units last year, while second-placed Toyota sold 3,017 units, according to the Automotive Association of Myanmar.
Toyota will begin producing its Hilux pickup trucks in the Southeast Asian country in February 2021, building a plant with an annual output capacity of around 2,500 units in the Thilawa Special Economic Zone on the outskirts of Yangon. (NNA/Kyodo)