Mazda Motor Corporation announced that it reached an agreement with Itochu Corporation (Itochu) to turn its new national sales company in South Africa into a joint venture.
Mazda established the new national sales company, Mazda Southern Africa (Pty) Ltd (MSA), with the aim of increasing sales and strengthening the Mazda brand in South Africa, according to the company. Operations began at the company in October 2014. MSA will carry out a third-party allocation of new shares worth 30 million rand to Itochu and form a joint venture company with the aim of further strengthening sales in South Africa.
Mazda has a long history in South Africa dating back to 1963 when the company first entered the market. At present, Mazda sells more vehicles in South Africa than in any other country on the African continent. With a focus on SKYACTIV models, MSA is expanding its line-up with the aim of increasing sales and further strengthening the Mazda brand, according to the automaker.