Toyota published its December 2015 new car sales for China. According to the sales figures, total sales were 122,000 units. This is a 2.4% year-over-year decrease from the following year’s December and represents the first downward turn in 2 months.
The poor sales for Toyota in December were the result of the tax reduction for compact cars which began in October in China, which only appeared for one portion of its cars. Sales of the flagship Corolla sedan, which underwent minor changes in summer of 2014, were favorable, but sales of other models were sluggish.
Toyota has two Chinese joint partnerships that sell its cars in China, Yiqi Toyota with First Automobile Works Group, and Guangzhou Toyota with Guangzhou Automobile Group Co., Ltd.
Toyota’s China new car sales surpassed 1 million for the first time in 2014 with a total of 1,032,400 units sold. This was a 12.5% increase over the previous year. 2015 saw an 8.7% increase with 1,122,500 units, making it the second straight year to surpass a million and setting a new record.
Toyota’s sales goal for China for 2016 is a 2.4% increase at 1,150,000 units.
(Translated by Greg Scott)