Date
18 October 2017

Toyota strengthens its reach of young Chinese car buyers

A new generation of Yaris {致炫} vehicles represents Toyota’s bid to carve a niche in China’s compact hatchbacks market. By sponsoring a wide range of contests and TV shows like “The Voice of China” and the Guangzhou Marathon, the model has swiftly gained popularity among young prospective car buyers.

Honda and Nissan have had vehicles geared toward younger buyers for many years while Toyota overlooked the market segment for a long time as it could rake in hefty profits with just its two pillar models — Camry and Highlander. But the trend is that Chinese car buyers are getting younger and more conscious about cost.

Toyota has obviously woken up to the change. Priced as low as less than 70,000 yuan, the more affordable and individualized Yaris is not just a supplement to GAC-Toyota’s existing vehicle line-up but a vital offering to expand market share. When Yaris owners look for better replacements in a few years, Toyota’s various mid-sized models may naturally come to their minds.

A senior GAC-Toyota sales executive admitted in an interview with a mainland newspaper that Yaris may not generate substantial profit, but it would be essential to add a touch of vitality to the brand image and consolidate the user base.

– Contact the writer at [email protected]

RC

 

EJ Insight writer

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