Daihatsu to Exit European Market

VIENNA – Daihatsu Motor Co. Ltd. will stop selling cars in Europe at the end of January 2013.

Slowing sales, erosion of profits caused by a strong yen and increasing cost of developing vehicles that meet tighter carbon-dioxide emission regulations in Europe are the driving Daihatsu out of the market, the auto maker says.

While Daihatsu sold some 58,600 vehicles in Europe in 2007, only 19,300 cars were delivered in the region last year.

Daihatsu cars are sold only in certain West European countries. There are no Daihatsu importers or dealers in Eastern Europe.

European Daihatsu dealers were informed at dealer conferences in various countries about the pullout this week.

There reportedly are more than 1,000 Daihatsu dealers in Europe.