Tokyo: Japan’s largest heavy truck maker, Hino Motors Ltd, will start selling trucks in India to tap rising demand in Asia’s third largest economy.
Hino and Marubeni Corp., a Japanese trading company, will start selling trucks in 2009, Tokyo-based Hino said in a statement on Tuesday. The venture aims to sell 20,000 units by fiscal 2013 and 2,000 in fiscal 2009, Hino spokesman Hidenobu Teduka said. Hino, the maker of the Ranger and Dutro trucks, is expanding overseas after sales outside Japan rose 29% last fiscal year, surpassing domestic sales for the first time. Hino plans to sell 78,500 vehicles overseas this fiscal year compared with 44,900 units in Japan.
India is benefiting from increased demand for its manufactured goods and rising exports to other Asian countries. Hino is also expanding in other regions with economic growth including Latin America and China.
The truck maker plans to build a factory in Mexico. Production will start in July 2009. Last November, Hino set up a venture with China’s Guangzhou Automobile Group Co., which will start production at a new plant next year.