Toyota logs 2.7% sales growth in China in May 2014 to 81,100 vehicles

Article by Andrew Christian, on June 4, 2014

Toyota Motor Corp. and its two joint-venture partners in China delivered a total of 81,100 vehicles in the country in May, reflecting a 2.7-percent surge from the same month in 2013.

After posting double-digit surges in March (19 percent year-on-year) and April (12.4 percent year-on-year), Toyota slowed down in May as sales of the Corolla in China dropped significantly in anticipation of the arrival of a redesigned version this summer, sources having direct knowledge of the data told Reuters.

In the first five months of 2014, Toyota grew 16.1 percent in Japan to 394,900 vehicles. Toyota expects to post sales topping 1.1 million vehicles in China for the full year 2014. Toyota sold 917,500 vehicles in China in 2013.

If the target is realized, this would the first time that the Japanese carmaker managed to exceed 1 million vehicles in annual sales in China. Toyota initially aimed to top the figure in 2010.

Toyota executive vice president Yasumori Ihara remarked in April that in the longer-term, the carmaker targets to double sales in China to around 2 million vehicles annually.

Toyota has joint ventures in China with China FAW Group Corp and Guangzhou Automobile Group.

Topics: toyota, china, sales

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