Business

Toyota sees strong rise in China car sales

2014 Beijing auto show Image copyright Getty Images
Image caption Toyota's sales jump in China despite slowing sales in the country's car market

Japanese carmaker Toyota recorded a big rise in sales in China last month.

Toyota, which operates in China through joint ventures with China FAW Group and Guangzhou Automobile Group, saw sales rise 27.1% in October from a year ago.

Sales in China are now up by more than 13% in the first 10 months of the year, compared with 2013.

The world's biggest carmaker has said it is aiming to sell more than one million vehicles in China for the first time this year.

Last year, Toyota sold 917,500 vehicles in China.

Slowing sales

News of the sales jump comes despite economic data out of China on Monday indicating a slowing economy.

China's services sector grew at its slowest pace in nine months in October with the non-manufacturing Purchasing Managers' Index (PMI) falling to 53.8 in October from 54 in September. A reading above 50 indicates growth.

That followed the manufacturing PMI on Saturday that fell to a lower-than-expected 50.8, from 51.1 in the previous month.

China's once red-hot auto market has been cooling in recent months, because of slowing sales of commercial vehicles. In September, sales rose 2.5% from a year ago - the smallest increase in 19 months.

The China Association of Automobile Manufacturers (CAAM) has forecast that the country's market will expand by 8.3% this year, slowing from a near 14% rise in 2013.

Toyota has also recently been making headlines for troubles with its vehicles. It recalled 1.75 million vehicles worldwide over faulty brake installations and fuel component issues last month.

Related Topics

More on this story

Related Internet links

The BBC is not responsible for the content of external Internet sites