Toyota setting records in China, sales up 45%

Reuters reports that Toyota Motor Corp. has said on Thursday that its car sales in China for the month of September rose approximately 45% over the same period last year to a record 72,000 vehicles in one month.  Through September, Toyota sold about 486,000 cars in China; 13% higher than the previous year.

“Market demand has been very strong this year especially for small cars thanks to the government’s incentives. New models also helped push up our sales,” a company spokesman told Reuters.  The boost in sales is most likely due to China’s stimulus policies and the confidence that they bolster in consumers, including aggressive cuts in sales tax for smaller cars.

Toyota has rolled out revamped versions of their Vios and Yaris compact models, and launched in China their RAV4 and Highlander SUV’s.

-By Stephen Calogera

Source: Reuters