FAW Toyota aims to sell 280,000 vehicles this year and 400,000 next year

FAW Toyota Motor Co., a joint venture between Toyota and the Chinese automaker FAW, has raised its sales target from 260,000 from 280,000 this year, and it plans to sell 600,000 next year.

"During the first ten months this year, FAW Toyota sold 179,000 vehicles, exceeding sales volume of the whole 2006," said Wang Fachang, deputy executive general manager of FAW Toyota. "The company will surely reach the 280,000 sales targets by the end of this year."

Toyota recently unveiled plans to sell one million vehicles and to grab a ten percent market share in Chinese market by 2010. Under the plan, FAW Toyota will sell two thirds of the total sales or 600,000 vehicles; Guangzhou Toyota and Lexus will each account for 300,000-350,000 and 50,000-100,000 vehicles respectively.

Wang did not reveal any details about its fourth plant but said its production capacity can meet its growth demand within one and a half years. Asked whether the new Yaris to be produced at Guangzhou Toyota will undercut the sales of new Vios, Wang said, "both brands have their selling points, and we are confident to achieve sales target for both."