Toyota to set up mass-market sales network in China - report
Toyota Motor Corp will set up a mass-market sales network in China as early as next summer in a move to compete with Honda Motor Co as well as European and US rivals.
TOKYO (AFX) - Toyota Motor Corp will set up a mass-market sales network in China as early as next summer in a move to compete with Honda Motor Co as well as European and US rivals, the Nihon Keizai Shimbun reported without citing sources.
Toyota aims to sell around 100,000 Camrys a year in China where it plans to open about 110 dealerships for Camrys, which is popular in North America. Combined with the networks for its Crown and luxury Lexus brands, Toyota is targeting 300 dealerships in China, the business daily said.
The new sales network will market Toyota-brand vehicles produced by Guangzhou Toyota Motor Co, a joint venture with Guangzhou Automobile Group Co.
The Camry will be the first model offered, with the lineup gradually expanded to other compact and midsize mass-market models.
Guangzhou Toyota's facilities, which are slated to start operations in mid-2006, will boost Toyota's capacity by 100,000 units a year, it said.
Coupled with increased output by the joint venture with China FAW Group Corp, another joint production partner, Toyota's annual production capacity in China will more than triple to about 300,000.
The automaker is also considering building a third factory in Tianjin and a second facility in Guangzhou, potentially raising annual production into the 700,000 range by 2008.
Toyota aims to sell around 100,000 Camrys a year in China where it plans to open about 110 dealerships for Camrys, which is popular in North America. Combined with the networks for its Crown and luxury Lexus brands, Toyota is targeting 300 dealerships in China, the business daily said.
The new sales network will market Toyota-brand vehicles produced by Guangzhou Toyota Motor Co, a joint venture with Guangzhou Automobile Group Co.
The Camry will be the first model offered, with the lineup gradually expanded to other compact and midsize mass-market models.
Guangzhou Toyota's facilities, which are slated to start operations in mid-2006, will boost Toyota's capacity by 100,000 units a year, it said.
Coupled with increased output by the joint venture with China FAW Group Corp, another joint production partner, Toyota's annual production capacity in China will more than triple to about 300,000.
The automaker is also considering building a third factory in Tianjin and a second facility in Guangzhou, potentially raising annual production into the 700,000 range by 2008.
