Toyota Motor Corp. reportedly is increasing its stake in its South African unit from 35.7% to 74.9%. Toyota will pay partner Wesco Investments Ltd. 994 million rand ($96.5 million) to more than double its stake, say reports. In 2001, Toyota’s South African arm made 79,000 units, largely Corolla and pickup truck models. Toyota says it hopes to increase production and sales in the region, where it has been the market leader for 22 years, with South African sales of 82,738 units last year and ...
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