Toyota plans to introduce 20 new models in China by 2015, even if Japanese automakers are still affected by the territorial dispute.
Hiroji Onishi, senior managing officer at Toyota, said that the automaker plans to manufacture China-only brands next year, with the help of its two Chinese partners, FAW Car Co. and Guangzhou Automobile Group. The decision was taken after GM announced this weekend its plans to increase capacity by manufacturing low-cost passenger cars in China. The US automaker and its Chinese partners have already started manufacturing low-cost vehicles at its new plant in southwest China.
“It’s known to all that Toyota, together with its [Chinese] partners, is working hard to overcome some temporary difficulties,” Mr. Hiroji said in a media release.”The plans [mentioned above] highlight Toyota’s commitment to the Chinese market, and the company will accelerate its expansion in the country.”
In 2011 Toyota sold 883,000 vehicles in China, an increase of 4% compared with the same period in 2010 and this year it aims to boost China sales to 1 million units. Analysts believe that the automaker will miss its 2012 target due to the violent anti-Japan protests which sparkled in China in mid-September and almost halved the automaker’s sales in the country.