Toyota To Launch Two China-Only Brands
Toyota will launch two China-only brands next year, one for each of its two Chinese joint ventures, a Toyota executive told Reuters today. Toyota had been one of the last hold-outs in the China-only business, after most other makers had caved in to the strong suggestions of the Chinese government that China-only brands are good for the Chinese joint venture.
Readers of TTAC have seen this coming for more than half a year. At the Beijing Auto Show, a Toyota executive had told TTAC that this would happen. Other makers, such as GM and Nissan, had middling success with their China-only brands.