Toyota to open 1,000 dealers in China by 2010
Toyota to open 1,000 dealers in China by 2010
BEIJING (XFN-ASIA) - Toyota Motor Corp. plans to open 1,000 dealerships in China by 2010 as part of an effort to capture a 10 pct slice of that country's auto market, The Wall Street Journal reported, citing a senior company executive.
Toyota Executive Vice President Yoshi Inaba, who has led the company's business in China for a year, said the Japanese auto maker expects demand in the Chinese passenger-vehicle market to grow to roughly 10 mln vehicles a year by 2010.
He wants each of Toyota's 1,000 dealers to sell 1,000 vehicles in order for Toyota to sell one million vehicles in China by then, up from 183,000 vehicles last year.
'The goal isn't set in stone since there are different projections of demand for the next five years', Inaba was quoted as saying.
'Sooner rather than later we need to come up with more specific action plans,' he said.
Toyota operates nearly 220 dealers in a joint venture with China's First Auto Works Group.
China requires foreign companies to team up with local companies in making cars.
The auto maker will gain 110 additional dealers later this month when its second joint venture in China, with Guangzhou Automotive Group, launches its retail business.
Toyota Executive Vice President Yoshi Inaba, who has led the company's business in China for a year, said the Japanese auto maker expects demand in the Chinese passenger-vehicle market to grow to roughly 10 mln vehicles a year by 2010.
He wants each of Toyota's 1,000 dealers to sell 1,000 vehicles in order for Toyota to sell one million vehicles in China by then, up from 183,000 vehicles last year.
'The goal isn't set in stone since there are different projections of demand for the next five years', Inaba was quoted as saying.
'Sooner rather than later we need to come up with more specific action plans,' he said.
Toyota operates nearly 220 dealers in a joint venture with China's First Auto Works Group.
China requires foreign companies to team up with local companies in making cars.
The auto maker will gain 110 additional dealers later this month when its second joint venture in China, with Guangzhou Automotive Group, launches its retail business.
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