24 March 2019

Toyota looks to compacts, hybrids to gain China ground, WSJ says

Toyota Motor Corp. is aiming for bronze in the world’s largest car market, with plans to introduce 15 new car models to China by 2017, the Wall Street Journal reported Sunday.

Toyota has 4.2 percent of the country’s car market and aims to double sales to two million cars “in the long run” to be third in China, the report said.

Toyota vice president Yasumori Ihara was quoted as saying the company will launch more compact car models to attract Chinese consumers and increase spending on hybrid vehicles.

Toyota has said it expects to sell more than 1.1 million vehicles in China this year, up about 20 percent from 917,500 vehicles last year, the report said.

– Contact HKEJ [email protected]


EJI Weekly Newsletter

Please click here to unsubscribe