Toyota Motor Corp. subsidiary Daihatsu Motor Co. said Monday it will start manufacturing in mid-November the Terios 1.3-liter sport utility vehicle at its plant in Venezuela.
The Terios will be made at Toyota de Venezuela C.A. (TDV). The vehicles will be marketed starting in late December through Toyota dealerships in that country, according to Daihatsu, in which Toyota has a 51.1 percent stake.
The Terios production program in Venezuela was devised in view of growing demand in the Latin American market for small SUVs that have the characteristics of a passenger car.
The two automakers aim to sell 6,000 of the vehicles a year in Latin America.
TDV is owned 90 percent by Toyota and the remainder by local concerns. The Toyota subsidiary has been manufacturing the Toyota Corolla passenger car and large SUV Land Cruiser models. It sold 20,000 vehicles in 2000.