Toyota’s Plan for the Future
Ford (NYSE:F) and General Motors (NYSE:GM) both posted strong numbers in the United States and China this August. GM sales in China are up 7.3 percent for the month from last year, and Ford saw a whopping 39 percent growth.
Don’t Miss: Ford and GM Both SURGE in US and China.
In an effort to capitalize on the world’s second largest car market, Ford has also announced that it plans to introduce 15 new vehicles and double its production capacity by 2015. But the American company is not the only player looking at China’s car market seriously.
Toyota (NYSE:TM), which has been struggling in light of recalls, strikes, and the earthquake, has its own growth strategy. The Japanese company plans to double its China sales by 2015 by release hybrid and low-price compact cars based on its Indian model. It is aiming at the major city of Guangzhou which offers subsidies and incentives for hybrid vehicles. A successful landing there would be a strong beginning for Toyota’s 2015 goal.
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