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Markets - China - Toyota picks up speed in China, aims for 10% share
Plans to accelerate
SHANGHAI,China -The Detroit News, by Christine Tierney -Oct 19, 2005: -- Methodical progression characterizes Toyota's efforts in the Chinese auto market, which it entered in 2002, long after most of its rivals... But now Toyota is picking up speed in the Chinese market, the world's third-largest with estimated sales of 5.8 million vehicles in 2005. In the next year or so, China is expected to overtake Japan to become the second-biggest market after the United States. By 2010, Toyota aims to more than double its share of the Chinese market to 10 percent... It is the first automaker to announce plans to assemble a gas-electric hybrid car in China... With car prices falling in China as new players enter, including ultra-low-cost local manufacturers, the winners in the long run are likely to be carmakers with the most efficient and low-cost operations, as well as the most appealing products...
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