Toyota gains 2nd-biggest market share in China

Shanghai, September 4 (Gasgoo.com) In the first half of this year, Toyota Motor overtook General Motors to become the second-largest foreign carmaker (by sales) in China after Volkswagen, said 21st Century Business Herald today, citing industry information.

According to a report issued in late August by Beijing Polk-Catarc Vehicle Information Consulting Co., Ltd., Toyota Motor (including the Toyota and Lexus brands) gained 10.2% market share in China's passenger car segment from January to June, up by 0.6% percentage point year on year, larger than GM's 9.1% but smaller than Volkswagen's 18%.

Through its two joint ventures in China, Toyota sold 284,000 vehicles in China from January to June, up 47% from a year earlier. In July, Toyota sold 41,000 more cars in China than GM, compared with a difference of 37,000 units in the first six months.

In the Chinese market, Toyota will try to sell more cars than Volkswagen as its next goal after overtaking GM. Volkswagen has seen its China market share declining from the highest 50% to 18.18% in 2007, to 18% in the first seven months this year.

In contrast, Volkswagen aims to overtake Toyota in global markets after surpassing Ford in the first half of 2008.