Mazda Buys Share of Spanish Car Importer

02/23/96

NikkeiNet has reported that Mazda Motor Corporation will buy 32% of the Madrid based imported automobile dealer Tecnitrade Automoción, SA. Tecnitrade Automoción will be renamed Mazda Motor España, SA. Mazda hopes the move will help them sell more cars in the country. The carmaker aims to raise the number of cars they sell in Spain from the 935 they sold in 1995 to 2,600 in 1996. To reach this goal, the corporation will increase the number of its affiliated car dealers in Spain from 23 to 35 by year's end.

Mazda Motor España will emphasize the Mazda 121 (comparable to Ford's subcompact Fiesta), and the Mazda 323 (the Mazda Sedan). Annual demand for cars is currently about 800,000, but is expected to reach 1.2 million by the year 2,000. Currently Spain is Europe's 5th biggest car market.

Paul Dever -- The Auto Channel