Toyota JV set to sell 35,000 Yaris cars this year

Shanghai, June 26 (Gasgoo.com) Guangzhou Toyota Motor Co., a 50-50 joint venture (JV) between Toyota Motor Corp. and Guangzhou Automobile Group Co., said today it will keep its original sales target for Yaris despite rising raw-materials prices.

"We are confident of selling 35,000 Yaris cars by the end of this year and we do not want to adjust that target," said Feng Xingya at an event to mark the official launch of Toyota Yaris in Shanghai. Feng is the deputy general manager of the company's sales and marketing division.

At the ceremony he also confirmed the company's second production line is scheduled to start operation in mid 2009, which will boost the JV's annual output to 400,000 units eventually, but he stopped short of commenting on whether the Highlander SUV or any other model will be build there in future.

Asked how to combat the challenge brought by rising raw materials and oil prices, Feng said the automaker would have no choice but to accept it and make adjustments whenever necessary.

Guangzhou Toyota announced on June 11 the MSRP (Manufacturer Suggested Retail Price) of its Yaris hatchback, a price ranging from 91,900 yuan($13,387) to 136,300 yuan.

Unlike that of the European editions, the Yaris hatchback was available in China with two gasoline-powered 1.3L and 1.6L 4 cylinder VVT-i engines with Toyota's VVT-i technology. The car's top speed is 195 km/h.

Feng Xingya,  deputy general manager of Guangzhou Toyota, speaking at the launching
ceremony for Yaris hatchback