Fleet News

Toyota's Spanish acquisition

TOYOTA has acquired complete ownership of its sales and servicing activities in Spain.

The manufacturer has announced an agreement to buy the 65% that Automoviles Nipones (Ansa) owns in Toyota Espana. The companies established a 65/35 joint venture in October 1992.

Toyota said: 'This agreement goes along with Toyota Motor Corporation's pan-European strategy of directly controlling product distribution in key markets, as it aims to achieve a 5% market share in Europe by 2005'.

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