Toyota expects its sales in China to grow by 52 percent this year to 278,000 units, thanks to new models. Sales through June of 2006 were already up 61 percent, and Toyota is ramping up capacity to further grow in the world's second-largest auto market. The company is a few years behind Volkswagen AG and other foreign companies, but it is catching up quickly.
On deck to be sold in China include a Yaris/Vitz derivative for the Chinese market, to be produced in a joint venture with the chinese company Guangzhou Automotive Group, as well as the RAV4 compact sport utility vehicle in cooperation with FAW Group in Tianjin.
[Source: Reuters via Automotive News]