Toyota’s sales in China are recovering but the company is still trying to deal with excess manufacturing capacity, according to two senior company executives who spoke to the Reuters news agency.
They also said the automaker would not need a new assembly plant before 2018.
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However, executives in charge of the company’s China operations were more optimistic, expecting sales in the country to double. They are also planning production capacity expansion or constructing a new assembly plant in China.
“But the truth of the matter is that we’re still trying to fill out a couple of plants, which have some excess capacity, and we need to push into areas of China’s big market where we’re not traditionally well represented with those new, more affordable compact cars. That’s our immediate focus. We’re talking about expanding our sales in China but don’t think we need a new assembly plant until after 2018,” said a senior Toyota executive.
According to one of the executives, Toyota will achieve the goal of selling 2m vehicles in the county by 2025.
