| Toyota raises forecast for vehicle sales in China |
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issue time:2007-03-10 08:12
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Jan. 11, 2007 (China Knowledge) – Toyota Motor Corp. has raised its forecast for this year's vehicle sales growth in China to 40% from 33% in an indication of the carmaker’s belief in the prospects of the China market.
The announcement by Toyota comes in the wake of General Motors’ announcement on Monday that its sales in China's booming car market grew by 32% in 2006, up about 208,000 units from 2005 to 876,747 units in 2006. Volkswagen, who suffered a loss in China in 2005, returned to profit in China for 2006 by reporting that its two joint ventures in China sold a record 711,298 vehicles in the Mainland and Hong Kong in 2006, up 24.3% from a year earlier.
Japan's top auto maker moved roughly 308,000 vehicles in China last year, up 68% from a year earlier -- beating its own expectations - and expects to sell some 430,000 vehicles in 2007, according to a Reuters report.
Toyota's production capacity in China is about 342,000 units as of September last year. It had applied for approval to add an additional 200,000 units at the northern port city of Tianjin, near Beijing.
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