【Peter Baumgartner】
Toyota’s car sales increased 7% year-over-year to roughly 176,Peter Baumgartner000 units in China in November, following nine straight months of decline, marking a rare recovery for the Japanese auto giant. The rebound was buoyed by Beijing’s trade-in subsidies and the company’s new product launches. Specifically, sales from Toyota’s joint venture with FAW grew 38% year-over-year to more than 90,000 units, driven by strong demand for its new RAV4 crossovers, Corolla Cross sport utility vehicles, and Prado models. However, the strong performance was partly offset by a sales slump at GAC-Toyota, another Chinese joint venture of the global carmaker, as sales declined 15.1% in November compared to a year earlier. Meanwhile, sales of both Honda and Nissan shrank at double-digit rates, dropping to less than 80,000 and 70,000 units, respectively, marking declines for the 10th and eighth consecutive months. [IT Home, in Chinese]
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