CHINA: Daihatsu opts for brand change in China
Toyota subsidiary Daihatsu has said it will change its product brand in China from Daihatsu to FAW later this year due to flagging sales under the Daihatsu brand name.
FAW is China FAW Group Corp., the parent of FAW Jilin Automobile Co., a joint venture formed with Daihatsu to manufacture and market compact cars.
The joint venture launched the Xenia minivan under the Daihatsu brand in June 2007 but sales in 2008 reached just 5,100 units (the sales target was 30,000 units) because the brand is barely known in China.
Daihatsu said it agreed with FAW Jilin Automobile and FAW on June 30 to change the brand while continuing the technology licensing agreement for the joint venture and their cooperative relationship.
The Xenia, based on a minivan model developed jointly by Daihatsu and its parent, Toyota Motor Corp. , is the sole Daihatsu brand vehicle currently sold in China.