Toyota sees strong rise in China car sales

2015-11-27 13:42:38 Click Count: 827

Toyota sees strong rise in China car sales

 
Japanese carmaker Toyota recorded a big rise in sales in China last month.

Toyota, which operates in China through joint ventures with China FAW Group and Guangzhou Automobile Group, saw sales rise 27.1% in October from a year ago.
Sales in China are now up by more than 13% in the first 10 months of the year, compared with 2013.
The world's biggest carmaker has said it is aiming to sell more than one million vehicles in China for the first time this year.
Last year, Toyota sold 917,500 vehicles in China.
Slowing sales
News of the sales jump comes despite economic data out of China on Monday indicating a slowing economy.
China's services sector grew at its slowest pace in nine months in October with the non-manufacturing Purchasing Managers' Index (PMI) falling to 53.8 in October from 54 in September. A reading above 50 indicates growth.
That followed the manufacturing PMI on Saturday that fell to a lower-than-expected 50.8, from 51.1 in the previous month.
China's once red-hot auto market has been cooling in recent months, because of slowing sales of commercial vehicles. In September, sales rose 2.5% from a year ago - the smallest increase in 19 months.
The China Association of Automobile Manufacturers (CAAM) has forecast that the country's market will expand by 8.3% this year, slowing from a near 14% rise in 2013.

Share |