According to top ranking executives within the Japanese company, Toyota Motor, the world’s largest automaker is prepared to miss the 2014 China sales goal.
Toyota might miss its objective of delivering more than 1.1 million vehicles on the largest auto market on the planet because of the economy slowdown settled earlier than previewed and the local market has already engaged in a grueling price war. According to a couple of senior ranking officials, who declined to be named because the figures are not public yet, Toyota and its two Chinese joint ventures have settled to sales coming up slightly above the one million mark in 2015 as well. Researcher IHS Automotive forecasts Toyota to deliver 1.09 million units by the year’s end and then go on and deliver slightly more – 1.15 million autos – next year.
The missed goal – which is likely not singular to Toyota, but might apply to the other Japanese automakers – shows the continued difficulties between the two nations, even though politically the relations are on a recovery path since a diplomatic dispute on a territory led to Chinese consumer backlash on Japanese products. Toyota has been mulling the one million threshold as far back as 2010, coming very close to target last year when it sold 917,500 units.