Yokohama Rubber to establish subsidiary in India
The Yokohama Rubber Co., Ltd., announced recently that it will establish a wholly owned subsidiary named Yokohama India in New Delhi, India in January 2007. Yokohama India will begin its operation as a tyre sales and marketing company for the time being, however it is planed to become a local headquarters in India later on for coordinating any future expansion of business such as manufacturing tyres and marketing automotive hoses and sealants. Sales of new passenger cars in India have increased 61% since 2002, to 1,140,000 vehicles in 2005. Industry analysts project that new-car sales in India will reach 2 million vehicles by 2010 and 5 million by 2020.