Monday, September 2, 2013
DJ: Toyota Says China August Sales Falls 4.2% To 72,100 Units
SHANGHAI--Toyota Motor Corp. (7203), the world's biggest auto maker by volume, said Monday its car sales in China fell 4.2% to 72,100 vehicles in August.
Toyota's China sales fell 3.5% on year in July and rose 9% in June. The company builds cars in China through its ventures with China FAW Group and Guangzhou Automobile Group Co.
Toyota and its Japanese peers are regaining market share in China, the world's largest car market, after a diplomatic spat over a group of uninhabited islands severely hurt sales of Japanese products in China last year. Still, the recovery is slow due to fierce competition and China's cooling economy.
In the January-August period, Toyota's China sales were down 5.3% from a year earlier to 564,600 vehicles. The company has said it aims to sell 7% more cars in China this year to reach 900,000 vehicles.