Toyota gambling on China for sales reign
By Ally From:
General Motors Corp has been narrowing
its sales gap with Toyota Motor Corp, where in the second
quarter Toyota Motor Corp outsold General Motors by only a mere
40,000 units. GM sold 2.405 million vehicles globally, compared
with Toyota's 2.367 million, in the second quarter, while in the
first automaker Detroit-based automaker sold a total of 90,000
vehicles less than that of Toyota. In addition, Toyota is
experiencing a decline of 9%-12% in Japan month by month during
last three months ending on June 30.
Quake won't affect Toyota sales
Toyota has reaffirmed its global sales
target of 9.34 million vehicles for this year despite worries
about plant closures after a recent earthquake in Japan. The
automaker aims at an increase of 6% of its sales target compared
with the same period last year.
Toyota has already resumed production
on most of its auto assembly lines at its one dozen factories in
Japan and will restart the remainder later this week, company
spokesman Tomomi Imai said.
Analysts say the strong growth gained
by Toyota on the emerging market in Asia and Latin America is
more than likely to make up for the decline caused by the quake
and a sluggish market in Japan. Aiming at China for sales
The two automakers are both seeking to
boost sales in emerging markets especially in China. It is
because a relative low sale in the Chinese market that made
Toyota lag behind GM in terms of full-year sales in 2006.
Statistics from China Passenger Car
Association show that GM's joint venture in China-SGM, sold
221,755 vehicles in the first half year, taking the sales reign
year to date in this market.