Toyota Eyes Slower China Sales Growth in 2009
Photos
FAW Toyota plans to begin building the RAV4 (pictured) in China later this year to compete with the Honda CR-V. (Photo courtesy of Toyota Motor Sales, U.S.A., Inc.)
SHANGHAI, China mdash; Toyota expects sales growth in its venture with China’s FAW Group to slow to 8 percent this year after a 25 percent jump last year.
Tianjin FAW Toyota Automobile aims to sell 380,000 vehicles this year in China, compared with 350,000 last year, the company said. Last year’s sales fell below an earlier target of 400,000 units.
Satoru Mori, general manager of FAW Toyota, expects China’s vehicle market to remain sluggish in 2009, given the sagging global economy, but to gradually recover in the second half.
FAW Toyota said it would start making the RAV4 utility vehicle in China this year, with annual sales targeted at 50,000 units. The model would take on Honda’s CR-V, as it does in other markets. FAW Toyota also produces the Corolla, the Reiz and the Vios.
Toyota, the world’s largest carmaker, is increasingly turning to the Chinese market because of a major slump in its U.S. sales. The Japanese manufacturer aims to sell at least 700,000 vehicles in China in 2009, compared with 585,000 in 2008.
