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Sunday, September 27, 2009

Toyota to Introduce a Low Priced Family Car in China

Toyota may be the no. 1 automaker in terms of global sales at this moment, but the Japanese automaker has not made a strong foothold in China, which is one of the fastest growing auto markets in the world.


However, now it seems that Toyota has turned its attention to China as it is going to launch an entry level family car in the country very soon. Moreover, Toyota is also planning to increase the number of dealers in China. At this moment, Volkswagen and General Motors are the market leaders in the country.


Yukitoshi Funo, Executive Vice President of Toyota Motor Corp., has said that his company does not have any plan to become the no. 1 in China, but it wants to have a strong hold in Chinese market. Funo believes that the big markets like China should always have domestic market leader. He, however, did not reveal details of the model that Toyota is going to launch in China.


Related article:

businessweek

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