Daihatsu and Toyota to Team Up in Venezuela

―Terios Production to Begin at Toyota Plant in November―

TOKYO― TOYOTA MOTOR CORPORATION (TMC) and DAIHATSU MOTOR CO., LTD. (Daihatsu) announced today plans to start building Daihatsu's 1.3-liter Terios from mid-November at TMC Venezuelan subsidiary Toyota de Venezuela C.A. (TDV). Sales of the compact car will begin through the Toyota dealer network in Venezuela at the end of this year, with an annual sales target of 6,000 units.

Toward this end, Daihatsu has recently signed a distributor agreement and a technical assistance agreement with TDV.

Due largely in part to the Venezuelan government's "family car" campaign, which is aimed at encouraging sales of compact cars, vehicles in the "family car" category now account for about half of all passenger vehicles sold in Venezuela. Their market share is expected to grow.

The Terios―which has received government designation as a "family car"― fits into this scenario and will equally address TMC's desire to introduce a suitable car in the expanding "family car" market and the needs of Daihatsu's overseas business strategy.

Outline of Toyota de Venezuela C.A. (TDV)

Establishment	1957 (TMC investment from 1989)
Location	Cumana City (in northeastern Venezuela)
President	Masahiro Naruse
Investment	TMC: 90%, Inversiones ARACNE S.A. (local partner): 10%
Production capacity	24,000 units annually (single shift)
Actual sales results (2000)	19,905 units (Corolla, Land Cruiser, Dyna, etc.)
Sales outlets	57
Number of employees	937