Toyota Forecasts Slower 2010 Sales Growth in China
TM | Quote | Chart | News | PowerRating -- Toyota Motor Corp. (TYO: 7203) estimated that its sales in China would reach 800,000 cars in 2010, with a year-on-year growth of 14% that is lower than this year's, according to Shoju Nozaki, a senior sales manager of the Japanese automaker.
As China is expected to become the world's biggest automobile market in 2009 ahead of the US, Toyota estimated that it would sell about 700,000 cars in the country meanwhile, representing a leap of 20% or so from 585,000 units last year.
The executive said that his company was set to equip more cars with low-displacement engines in 2010, as an effort to sharpen its competitive edge against other carmakers.
Toyota forecasted in July 2009 that totally 12 million automobiles would be sold in China this year, according to Etsuo Hattori, the company's chief representative for the local market. In fact, the sales were 9.66 million units in the first three quarters, the China Association of Automobile Manufacturers reported.
Source: www.shihua.com.cn (November 27, 2009)
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