1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152 
DC claims 43% of Mitsubishi
Page 18
If you've noticed an error in this article please click here to report it so we can fix it.
• by Emma Penny DaimlerChrysler (DC) has cemented its alliance with Mitsubishi Commercial Motors, taking a 43% stake in the company as well as a 50% holding in Hyundai Motors' Commercial Vehicle business.
The move gives DC access to Asia, which is the fastest growing market for CVs in the world. It currently accounts for 43% of global demand, and that proportion is forecast to pass the 50% during the next decade. DC says this will "ensure that DaimlerChrysler's Commercial Vehides Division can leverage growth of these key Asian markets".
The company adds that expansion will allow it to implement its strategy of "turning scale into profit" even more rigorously. Collaborating in R&D and sharing components and major assemblies worldwide is expected to "exploit the advantages we [DC] gain from our high unit sales figures and global presence".
DC's stake in Mitsubishi follows its "alliance" with the company, which started last year when Mercedes-Benz took the Mitsubishi Canter UK distribution, spares and service operations into its stable after Volvo sold its stake in the business for £205m.
Mitsubishi holds a 30% market share in Japan and holds strong positions in key markets in South-East Asia; Hyundai holds a dominant position in the Korean CV sector.
The Mitsubishi Fuse Truck and Bus Corporation, as it will be known, currently employs 17,477 people and sold 100,000 vehicles over 3.5 tonnes iast year. Trading under its new name of Daimler Hyundai Truck Corporation, Hyundai Commercial Vehicles employs 4,900 personnel and produced 42,900 CVs last year.