PHOTO
Jeddah: Toyota Tsusho Corporation (“Toyota Tsusho”) announces today it has established a Saudi Arabian wholesaler and retailer for Hino Motors, Ltd. (“Hino”) trucks in partnership with local conglomerate Jamjoom Group. The wholesaler, Tsusho Jamjoom Trading Company (”TJT”), began full-scale sales activities in October, 2019 as the first-ever Japanese-owned truck wholesaler in Saudi Arabia.
Saudi Arabia, one of the leading oil-producing countries in the Middle East, is pursuing Vision 2030 as its economic and social reform strategy to reduce dependence on oil production and diversify industry. Amid this reform, local truck demand continues to expand, and currently Saudi Arabia accounts for 50% of the commercial vehicle market in the Middle East. Going forward, sustained expansion of the demand for trucks is expected due to the role they play in the logistics infrastructure supporting new industry born from industrial diversification and the increase in construction investment.
In 1972, Toyota Tsusho began exporting Hino trucks to Saudi Arabia, partnering with the Jamjoom Group as a local Hino distributor. The newly established TJT combine the Jamjoom Group’s local sales network with Toyota Tsusho’s after-sales service know-how developed through its automobile business. TJT will not only enhance the sales function, but bolster total support for commercial vehicles encompassing vehicle inspection, maintenance and repair, and spare parts supply.
As economic growth continues in Saudi Arabia, Toyota Tsusho will strive to contribute to the country’s further development through supplying Hino trucks with QDR (excellent quality, durability, and reliability), generating new jobs, and training technicians.
-Ends-
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
