Toyota has sold just over 100,000 vehicles so far this year and raised its 2005 target to 150,000 units from 145,500, a senior sales executive told Reuters on Wednesday.
Toyota’s main joint venture in China, a tie-up with China’s largest vehicle maker First Automotive Works, might take months to work through a full order book, an executive with the venture’s sales company told the news agency.
“Looking at the current situation, we estimate that this year’s sales volume can reach 150,000 units,” Dong Haiyang, vice president at FAW Toyota Motor Sales Co. in China, told Reuters.
“We have a large number of orders. Our major task right now is to raise production and reduce delivery times,” he told Reuters on the sidelines of an industry forum.
The news agency noted that this is the second time this year that Toyota has raised its sales estimates for its main venture in China, the world’s third-largest vehicle market – it plans to raise production capacity in the country to 335,000 units by mid-2006.
Chen reportedly said on Wednesday that the joint venture’s capacity doubled to about 270,000 through a recent expansion.
Toyota’s upwardly revised 2005 China sales target would still represent less than 2 percent of the company’s forecast of 7.97 million vehicle sales worldwide for the business year to March 2006, according to the company’s web site, Reuters added.