Guangzhou Toyota Motor Co Ltd plans to raise its sales target by
17 percent next year as it launches new models and on an expanded
output capacity.
The second Chinese joint venture of Toyota Motor Corp aims to
sell 210,000 vehicles next year, including 175,000 units of Camry
premier sedan and 35,000 Yaris hatchback which is scheduled to sell
domestically in the middle of next year, the company said
yesterday.
Guangzhou Toyota has pinned high hopes on the Yaris, one of the
Japanese car maker's global models, to tap the nation's fast
growing economy car segment amid rising demand for fuel-efficient
models.
"The competition in the premier class segment will be more
intense next year," said Yuan Zhongrong, executive vice president
of Guangzhou Toyota.
"The launch of Yaris meets local demand and will be key to
fulfill our target."
Guangzhou Toyota raised its sales target twice to 170,000 units
this year fueled by high demand for the Camry sedan as its only
model in the mid-to-high segment. Sales of Camry totaled 153,000
units for the first 11 months.
Honda will start selling its new Accord tomorrow, and sales of
the car are expected at 185,000 units next year.
Toyota's Camry beat Honda's Accord to be the best selling model
this year, with monthly sales recorded at 14,000 units.
In order to ease production bottleneck, Guangzhou Toyota started
construction of its second plant in the middle of this year,
boosting its total capacity to 500,000 units in China.
By the end of next year, Guangzhou Toyota also plans to expand
its dealership network from 146 stores to 180, which will also sell
4,000 FJ Cruiser sport utility vehicles.
Toyota, which may beat General Motors Corp as the biggest car
maker globally, has added capacity and hastened the launch of new
models to boost sales and grab a bigger market share. It aims to
take a 10-percent market share on China's mainland by 2010 against
five percent share last year.
Toyota also partnered First Automotive Works Group in the FAW
Toyota venture in Tianjin, north China.
The venture, which just inaugurated its third plant in May with
a capacity of 200,000 units, boosts its total output to 420,000
units in China.
FAW Toyota makes the Crown, Vios, Corolla and Reiz sedans.
(Shanghai Daily December 26, 2007)
