Toyota China: New factories to meet high demand

Toyota achieved five-month-record sales in China with its best-selling Camery; Guangzhou Toyota's second factory breaks ground early this month. The first car in the new facility will hit the market in Q3, next year. To meet the increasing demand, Toyota enlarges its capacity of the two joint ventures in China.

FAW Toyota and Guangzhou Toyota, separately established in the year 2000 and 2006, both have a rapid growth this year. FAW Toyota, boasting with the popular Corolla model, has put its third factory into use late last month.

Toyota eyes a 10 percent market share in China by the year 2010.  It plans to launch more competitive products while enlarging the production capacity. Guangzhou Toyota was founded in 2004 with a blueprint of 300,000 units annually produced in the startup phase. Currently the company can assemble 120,000 Toyota cars units per year. After the new factory opens, the whole productivity of Guangdong Toyota will reach 500,000 units.

Lexus, Toyota's luxury brand which has been recognized by the North American and Japanese markets, also steals the Chinese customers’ heart, but now it's only available via import. Lexus may be locally produced, however by which JV is still unknown.