TOKYO, Oct 23 (Reuters) - Japan's largest auto maker, Toyota Motor Corp , and its minivehicle unit Daihatsu Motor Co Ltd said on Thursday they have agreed to produce and sell in Indonesia a small-size car they will jointly develop.
The new car will be manufactured at Daihatsu's Indonesian production base, PT Astra Daihatsu Motor, and will be sold next year through Indonesia's leading car-maker, PT Astra International Tbk , and through PT Toyota-Astra Motor under the Daihatsu and Toyota brands respectively.
The new car will be their first jointly developed vehicle, the companies said, although they have collaborated twice before on overseas projects -- in Pakistan in 2000 and Venezuela in 2001.
The Japanese makers said they aimed to forge a new vehicle market segment in Indonesia by attracting consumers looking to buy their first car and drivers looking for used cars.
Shares in Toyota were down 2.1 percent at 3,260 yen in early afternoon trade on the Tokyo Stock Exchange, while Daihatsu's stock was down 1.15 percent at 430 yen in a broadly weak market with the benchmark Nikkei average sliding 3.64 percent.