By Al Edwards, Financial EditorTHE PRESIDENT of Toyota Jamaica Limited, (TJL) Janet Panton is to stand down and will be replaced by existing executive vice-president, Mr. Hideo Matsuura, Wednesday Business understands.
TJL located on 427 Spanish Town Road, has the largest selling dealership on the island. The company imports and distributes the full range of Toyota brand vehicles and Hino brand trucks. It also offers after sales service and customer care with a selection of auto parts.
It was established in November 2000 as a result of a joint venture between United Motors and Toyota Tsusho Corporation (TTC). TTC has head offices in Nagoya and Tokyo with a network of international branches and 79 subsidiaries throughout 59 countries. Mrs. Panton was the chief executive officer of United Motors. United Motors was incorporated in the 1940's and was formerly owned by the Matalon family..
At the time of forming TJL, Mrs. Panton said: "We felt this was the best possible partnership us having decades of experience in marketing Toyota and them having the financing, technology and access to the product line."
RECONFIGURATION
Speaking with Wednesday Business yesterday, TJL's administrative manager Mr. Martel Gocoul said: " The company will go through a management reconfiguration and I don't envisage any additional staffing. Mr. Hideo Matsuura will take over running of the operation and Mrs. Panton will remain a director and shareholder in the company."
Last year TJL sold 1055 new vehicles with the Prado SUV being its best seller. For 2004, TJL had hoped to better that number but that now appears unlikely. At this point in time, the company is backed up with Toyota models Corollas and Yaris' in anticipation of being granted a concession from the Ministry of Finance for the tourist season.
TCL is yet to hear from the Ministry of Finance and says it is a little concerned. Two weeks ago, U-Drive (the largest rent-a-car body on the island) head Mike Campbell expressed the same concerns at its annual general meeting and could not understand why the Ministry of Finance was dragging its heels on granting concessions. The largest purchasers of the Toyota brand are fleet buyers, the U-Drive sector and large agencies. TJL's sales managers are presently deciding where to focus their marketing strategies for the forthcoming year.
