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FAW-Toyota, Changan Ford cut '08 sales target

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Shanghai, October 23, 2008: ( FAW-Toyota, Changan Ford and some automakers in China has cut their sales target for 2008 due to auto market slowdown, Beijing Times said today, citing sources.

One month ago, FAW-Toyota, Toyota's joint venture with China's FAW Group Corp, still said it would maintain its sales target of 420,000 vehicles for 2008 despite bad first-half sales. However, in a recent presentation ceremony of Reiz, sources told the reporter that the automaker has planed to cut its sales target to 400,000 vehicles or below for the whole year.

Wang Fazhang, the company¡¯s executive deputy general manager, also said to the reporter that the automaker has adjusted the year¡¯s sales plan for its dealerships. Judging by the current market, it seems impossible for him to mean any increase by the ¡°adjusted¡± sales.

Meanwhile, Changan Ford Automobile also has to cut its 192,000 annual sales target set at the beginning of 2008 as domestic passenger car market fell by 6% in the past nine months, Changan Ford Sales Co general manger He Junjie disclosed.

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