Toyota China raises sales target to 700,000 in 2008

Shanghai. November 21 (Gasgoo.com) - Toyota Motor Corp said it aimed to sell 700,000 vehicles in China next year, up 46 percent from this year, a senior Toyota official said, reported by China Securities Journal.

 

Isogai Masashi, president of Toyota Motor (China) Investment Co, made the above announcement at the 5th China (Guangzhou) International Automobile Exhibition yesterday. This target made Toyota a more formidable challenger to Volkswagen and General Motors, which plan to sell 900,000 and one million vehicles respectively in the Chinese market this year.

 

Toyota, which competes with Honda Motor Co and other global carmakers in China, sold about 380,000 vehicles in China in the first 10 months of this year, up 67 percent from a year earlier. The company's sales for the full year are now projected to be about 480,000 units, up 11.63 percent from earlier target of 430,000 units, the company said.

 

"The brisk sales were mainly attributed to the popularity of Toyota Camry, which sold 200,000 vehicles since it started production in May 2006," said Hu Su, deputy-general manager of Guangzhou Toyota.

 

In the first ten month this year, FAW-Toyota sold 209,589 vehicles in Chinese market, up 14.4 percent from one year earlier and its most best selling model, Corolla has sold 84,101 units, up 25 percent from one year earlier.

 

By contrast, Guangzhou Toyota sold 136,910 Camry vehicles in the first ten months, which represents a stunning increase of 316.4 percent from one year earlier.

 

"Toyota's hot-selling compact sedan Yaris, which is being displayed at Guangzhou Auto Show, will also be locally produced in Guangzhou plant by the middle of next year, and we hope its sales will catch up with that of Camry in the foreseeable future" said Hu.