Toyota Aims To Boost China Sales By 20% In '09

Shanghai, February 11, 2009: (Gasgoo.com) Japanese carmaker Toyota Motor Corp. expects to raise its auto sales in China by 20% to more than 700,000 units this year, said sina.com today. As its sales in the U.S. market fell by 50% in 2008, the sales growth in China this year will become more important to Toyota Motor.

As China's auto market is less dramatically affected by the global financial crisis, Toyota Motor will make efforts to focus on its growth in China this year to offset its sales slump in the global markets. Some Toyota models such as Camry and Yaris have sold well in China and now are in short supply, and its high-end brand Lexus has seen rapid sales growth in the Chinese market.

Toyota Motor aims to sell at least 700,000 vehicles in China in 2009, an increase of 20% from last year. The Japanese carmaker sold 585,000 vehicles in China in 2008, up 17% from a year earlier, but short of the 600,000-unit target. Toyota's global sales dropped 4% to 8.97 million units last year, with its U.S. sales down 50%.

"In January 2009, China overtook the U.S. to be the world's largest auto market. This is a positive signal to global automakers, including Toyota, who are seeking growth in the China market," said a Toyota executive, adding that the car-buying power remains great in China though its auto sales growth has slowed recently.

Toyota Motor, along with its Chinese ventures FAW Toyota and Guangzhou Toyota, will further upgrade its brand image and distribution network in China. Toyota launched Lexus GS450h in China last month, as the third Lexus hybrid sedan introduced to the Chinese market.

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