adminToyota, a franchise of Toyota Zimbabwe, which will see the entity servicing and selling all ranges of Toyota vehicles for the first time, an official said this week.
Prior to the acquisition, Puzey & Payne, a subsidiary of Tractive Power Holdings (TPH) was dealing with locally assembled Mazda and Mitsubishi vehicles as well as Peugeot cars.
TPH finance director, Mr Maxwell Chinorwadza said Puzey & Payne will be selling and servicing Toyota vehicles in Manicaland province.
“In Mutare, there was a Toyota dealership for sell and we went for it, we can not disclose how much we paid as we are currently in a closed period,” Mr Chino-rwadza said.
“We finalised the deal beginning of this month and we are already trading with Toyota brands though our target last year was also to purchase Mike Harris Toyota which we failed.”
He said the latest acquisition would give TPH a competitive edge that would see the group increasing its revenue base.
“This development should keep our business rolling since Toyota introduces new models now and again,” he said.
Under the deal, Mr Chinorwadza said, Puzey & Payne cannot directly import vehicles but will be a sub-dealer of Toyota Zimbabwe in Manicaland.
Mr Chinorwadza said this would also give their customers more choices and varieties of vehicles.
“We will continue to hunt and negotiate for more Toyota franchises for sale in other parts of the country to service our customers country wide,” he said.
He added that TPH particularly wanted a Toyota franchise in Harare. – New Ziana.
Bongani Ndlovu
Online Reporter