Toyota Plans to Make Yaris Compact in China from mid-2008
Toyota Motor Corp. knows it needs to produce a more economical car to be competitive in China and India.
Toyota's answer is to first start producing 80,000 – 90,000 Yaris cars beginning in mid-2008. The Yaris is sold as the Vits in Japan.
Guangzhou Automobile Group and Toyota will team up to make the cars.
Toyota thinks the joint venture, Guangzhou Toyota Motor Co. (GTMC) will increase
capital by $49 million.
GTMC started making Camry cars this year and have already exceeded the sales target of 50,000 units between June-December by selling 57,000 vehicles.
When the Yaris goes on sale….Toyota will begin its domination of the small car market in China.
It's just a matter of time.
What do you think?
