Toyota expects to triple hybrid sales in China this year

Toyota Motor Corp. expects to triple its sales of conventional hybrids in China this year to 100,000 vehicles, a senior executive said last week.

Hybrid versions of the Corolla and Levin compact sedans have enjoyed rapid growth in demand, said Hiroji Onishi, president of Toyota Motor (China) Investment Co., in a speech at the Guangzhou auto show.

Sales of the hybrid Corolla and Levin, which are both produced in China, will approach 700,000 vehicles, Onishi said. 

Toyota also imports eight hybrid models -- the Prius, hybrid Camry and six hybrid Lexus models -- into China.

Under current Chinese policies, conventional hybrids do not qualify for government subsidies. Only plug-in hybrids, electric vehicles and fuel cell powered cars are eligible. 

Conventional hybrids won't be granted carbon credits either, under the California-style carbon credit trading scheme that the Chinese government plans to roll out next year.

To comply with China's regulations, Toyota will start introducing plug-in hybrids to China in 2018, Onishi said, without providing details about the vehicles.

Toyota aims to sell 1.15 million vehicles in China this year, up 2.4 percent from 2015. It is on track to beat that target. In the first 10 months, the Japanese automaker's deliveries in China rose 11 percent year on year to 989,300 vehicles.