Sunday, September 9, 2012

Toyota car sales in china forecast 2015

Toyota car sales in china forecast 2015 : Toyota Motor Corp. (TM:Quote) plans to nearly double car sales in China to 1.8 million vehicles in 2015, media reports said Friday. Toyota also intends to introduce new cars exclusively for China in 2013.

The Japanese automotive giant is aiming to expand its Chinese sales target for 2015 to 1.8 million from the initial 1.5 million. Toyota aims for 1 million vehicle sales in 2012.

Toyota's Chinese sales were hurt by recalls in 2010 and strikes by group employees.

In May end, Toyota Motor had announced its plans to introduce eight compact car models for the emerging markets by 2015, hoping to compete with General Motors Corp. (GM) and Volkswagen AG (VOW.BE, VLKAF.PK, VKW.L).

Toyota's aim was to turn its attention to growth markets like China, Brazil and India so that it can reduce its reliance on North America and Europe as well as its domestic market. Volkswagen China unit's first-half deliveries, along with its two joint ventures Shanghai Volkswagen and FAW-Volkswagen, increased 17.5 percent to 1.30 million units.

Last month, Toyota said its Brazilian subsidiary is planning to sell 200,000 vehicles in the Latin American country in 2013, which is twice the unit sales forecast for the current year.

While reporting the company's first-quarter results in August, Takahiko Ijichi, senior managing officer, stated, in all regions, vehicle sales increased significantly due to strong recovery of demand which had suffered last year from the lack of supply caused by the Great East Japan Earthquake.

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