16th
December
2009
What the Volkswagen-Suzuki Deal Means
posted in Car News Articles |
Volkswagen AG and Toyota Motor Company may downplay the parallel, but they both now have “saved” Japanese automakers General Motors cast off. First, Toyota bought GM’s 20 percent of Subaru parent Fuji Heavy Industries in late 2005 and VW has just purchased 19.9 percent of Suzuki, making VW the Japanese company’s biggest shareholder, less than a week after GM bought out Suzuki’s share of the CAMI joint-venture plant in Ontario, Canada.
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