Toyota to create nationwide sales firm in China

TOKYO October 12, 2003; Japan Today reported that Toyota Motor Corp will create a joint marketing firm with China's largest automaker and become the first foreign automaker to build a nationwide sales network in the country, a business daily reported Sunday.

Toyota has reached a broad agreement with China FAW Group Corp. to establish a joint firm to sell cars made by the two firms' joint ventures nationwide, the Nihon Keizai Shimbun said. (Kyodo News)