Toyota aims to sell over 1m vehicles in China in 2012 an executive said on Monday (21 November).
The executive emphasised the company is boosting local production and product planning, Kyodo News reported.
Toyota sold around 850,000 vehicles in China in 2010, up 19.4% year on year, but behind Volkswagen and General Motors.
Sales of new cars in China in 2010 rose 32% year on year to 18.06m units, making the country the world’s largest car market for the second consecutive year.
Meanwhile, Toshiaki Mikoshiba, president of Guangqi Honda Automobile, a Chinese joint venture between Honda Motor and Guangzhou Automobile, said the JV expected expected China’s passenger vehicle sales to rise 10% in 2012.
Guangqi Honda hoped its sales growth next year would be higher than 10%, Mikoshiba told Reuters.
Honda cut its 2011 car sales target for China by 13% to 638,000 cars after Japan’s earthquake and tsunami in March disrupted supply chains and forced production cutbacks.
Honda also makes cars in China with Dongfeng Motor.