End of the road for Daihatsu

1:00 pm

Daihatsu New Zealand announced today it is shutting up shop next April 30 after 26 years in business here.

Managing director Murray Hart said in a statement it was a "sad day" for the company and its 15 staff.

"In recent years it had become increasingly difficult for Daihatsu New Zealand to remain viable as a stand-alone franchise due to a decline in the small car market, the continuing influx of used vehicle imports from Japan and exchange rate uncertainty," he said.

Toyota New Zealand will take over distributing new Daihatsu vehicles from May next year.

Toyota chairman Bob Field said in a statement it was premature to speculate about possible roles for current Daihatsu staff and dealers.

The company would not finalise "operational matters" until next year.

Mr Hart said Daihatsu customers would have a more secure future as part of Toyota.

- NZPA