Toyota updates its sales forecast for the Chinese market
The Japanese car maker expected to sell 430,000 cars this year but 2007 could be better than planned as it announced it would probably sell 480,000 cars. On the first ten months, Toyota sold 385,000 vehicles, increasing its sales by 67% over the same period last year. By comparison, the Chinese market increased by 24%. It owns a market share of 7.5%.
The Camry and Corolla models explain the good news. Next year, Toyota will launch a smaller model similar to the Yaris in order to appeal to customers on a market boxed in by increasing petrol prices. It expects to raise its sales by 46% to 700,000 vehicles. One can be sure that some car makers must have nightmares.