New Player in Automotive Market

Ricardo Pérez S.A., distributor of Toyota and Lexus in Panama, has signed an alliance with the Japanese Itochu Corporation, which will have a majority stake in the automotive company.

Monday, April 16, 2018

an dir="ltr">In a statement posted on its website, Grupo Corporativo Pérez announced that the Japanese multinational ITOCHU Corporation will have a majority and joint share with the group in the distribution company of the brands of Toyota Corp.

See also: "
$284 million to Buy Suzuki Dealer in Costa Rica and Panama"

".... ITOCHU Corporation has vast experience, operating dealers and car dealerships in many countries around the world since the 1970s. Taking advantage of this experience, will aim to popularize even more the Toyota and Lexus brands in Panama."

See also: "Car sales down 19% in February 2018"

"ITOCHU will also seek to promote businesses related to the areas covered by the CASE concept (Connected, Autonomous, Shared and Electric), as well as promoting new initiatives that contribute to the environment and society.

See full press release (in Spanish).

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