Tokyo, Oct 6, 2006 (JCN) - The Yokohama Rubber Co., Ltd., announced yesterday that it will establish a wholly owned subsidiary, Yokohama India, in New Delhi in January 2007. Capitalized at approximately 50 million yen, Yokohama India will begin operations as a tire sales and marketing company. Going forward, the Company plans to use it as a local headquarters for coordinating future business expansion, in particular for tire manufacturing and marketing of automotive hoses and sealants.
Yokohama Rubber currently markets passenger car tires in India through its tire distributor in Singapore. However, demand in India in increasing as a result of overall growth in the country's automotive sector, and Yokohama Rubber is prepared to meet that demand with tires and other automotive products offered through its subsidiary.
India's GDP has grown 7-8% annually since 2003, supporting rapid growth in vehicle ownership. Sales of new passenger cars in India have increased 61% since 2002, to 1,140,000 vehicles in 2005. Industry analysts project that new-car sales in India will reach 2 million vehicles by 2010 and 5 million by 2020.
The Indian subsidiary is part of Yokohama's strategy for strengthening its market presence in the large-population, fast-growth BRIC economies (Brazil, Russia, India and China), which are on track to overtake the G7 in economic scale this century. In China, Yokohama has established a tire sales company, five production companies - two for tires and three for conveyor belts, sealants, and hose assemblies - and a management company to oversee those operations locally. Yokohama's BRIC strategy also includes the establishment of a tire sales company in Russia.
Copyright © 2013 JCN. All rights reserved. A division of Japan Corporate News Network KK.
 Company Profile |  Print |  Alerts
|
 |
|
Yokohama Rubber to Establish Sales Subsidiary in Singapore
(Feb 15, 2013)
|
|
|
YOKOHAMA Introduces "AERO-Y" EV Concept Car Using Proprietary Technology
(Jan 12, 2013)
|
|
|
YOKOHAMA Develops Tire Design Technology that Reduces Aerodynamic Drag on Vehicles
(Dec 20, 2012)
|
|
|
Yokohama Rubber Supports Ecological Preservation at Laojun Mountain, Yunnan Province, China
(July 27, 2012)
|
|
|
Yokohama Rubber Opens New Tire Plant in Russia
(June 1, 2012)
|
|
|
Electric Vehicle with Yokohama Tires Nearly Bests EV Record on First Try at Most Famous Hill Climb in the World
(Aug 31, 2009)
|
|
|
'Yokohama Forever Forest' Project Tree-Planting Ceremony Held at Key Tire Production Site in Thailand
(Jan 20, 2009)
|
|
|
YOKOHAMA Rubber to Exhibit at the Sao Paulo Motor Show Largest Motor Show in Latin America
(Oct 27, 2008)
|
|
|
Yokohama Tire Vietnam Holds Opening Ceremony; Yearly Production Capacity in Vietnam to Reach 1.3 Million Tires
(Mar 27, 2008)
|
|
|
Yokohama Rubber Unveils 5-B.-Yen Plan to Expand Onomichi Plant
(Oct 23, 2007)
|
|
|
