BRAZIL: Visteon extends Kenwood partnership
Visteon has extended to 2015 its South American commercial partnership with Japanese electronics manufacturer Kenwood.
"Today we have an 11% market share [in automotive sound], but the aim is to obtain 15% of that market within three years," Jomar Napoleão, director of the Visteon electronics group in South America, told the Gazeta Mercantil.
The partnership with Visteon in the Mercosur Southern Cone South American trade bloc, agreed in 1999, is the only one that Kenwood maintains worldwide, where it has 25 subsidiaries, the report said.
Tamio Harada, Kenwood director in Brazil, said Visteon was chosen when his company was looking to expand in emerging markets and needed a partner with a strong presence in the automotive sector.
Kenwood handles the replacement business through specialist independent distributors and installers while Visteon focuses on business with automakers and dealers, according to Luiz Peluzzo, manager of marketing and strategic planning of Visteon América do Sul.