Toyota Motor Corp. and its two Chinese joint ventures FAW-Toyota and GAC-Toyota sold about 100,600 cars in China last month, up 41.7 percent year-on-year and the fastest sales growth since February 2014, according to a company news release.
Toyota spokesman Takanori Yokoi said on July 1 that the rise was due in part to “technical” reasons, as the automaker’s sales dipped in the same month last year while it phased out the older version of its Corolla compact in preparation for the newer model.
Toyota sold about 512,800 cars in the first half of the year, up 10.1 percent from the same period a year earlier, putting it on track to meet its 2015 growth target of selling 1.1 million vehicles in China.
FAW-Toyota, which witnessed slower growth compared with GAC-Toyota, sold 266,000 vehicles in the first six months of the year, an increase of 6 percent from the previous year.
The JV plans to launch nine all-new models and eight upgraded models in the upcoming five years, expanding the number of its vehicle models by 82 percent to over 20.
Toyota sales growth is a positive sign for the auto industry in China which has suffered a major slowdown in sales this year.
Overall passenger and commercial vehicle sales for the industry fell 0.4 percent year-on-year in May to 1.9 million vehicles, according to China Association of Automobile Manufacturers (CAAM).