A partnership dating back nearly four decades, the joint venture between Incolmotos and Yamaha Motors Corp. is among the widely cited examples of the success that can be achieved when a Colombian and Japanese company join forces.
Posting positive growth in all but two years of its existence, trust and confidence strengthened between the two sides. Between 1985 and 1999, Yamaha Motors steadily increased its participation in the joint venture from the original 19.2 percent to the 50 percent currently.
“In 37 years working with Yamaha Motors, problem solving has always been very easy. This can be attributed to the high level of trust that both sides have in each other. Our Japanese partners have the confidence that we represent their brand properly. This is something we treasure very much,” said President Francisco Sierra, who also served as ambassador to Japan from 2003 to 2007.
Operating in the second-largest motorcycle market in South America behind Brazil, Incolmotos Yamaha has steadily built its market share to its present 21 percent.
“We have a very healthy business over the past years. This allowed us to continue investing in the country,” said Director for Operations Daniel Restrepo Correa.
That investment includes a high-tech production facility located just outside Medellin, which aims to assemble 120,000 units this year. In the same compound is an administration and sales building, which was inaugurated by Yamaha Motors CEO Hiroyuki Yanagi in January 2013.
“Our vision has always been to make Colombia a production hub for other South American countries. We want to produce Japanese products in Latin America for Latin America. Our partnership with the Japanese is not one we take lightly. It is a relationship for life,” said Sierra.