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Toyota chief visits China amid recall woes
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Toyota chief visits China amid recall woes
By JOE McDONALD,AP Business Writer -
2 hours 42 minutes ago
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BEIJING – Toyota President Akio Toyoda's visit to China to talk about his company's quality problems reflects the fast-growing Chinese market's importance to automakers as they struggle with weak global sales.
Toyoda is due to speak at a news conference Monday evening in Beijing in his second foreign appearance following last week's visit to Washington, the company said. Japanese news reports said he would meet with Chinese officials.
"The fact that he is going to China second, after the United States, tells you the importance they place on China relative to other markets," said John Bonnell, a J.D. Power analyst. "Toyota wants to make sure it puts its best foot forward, not only with its best products but in instilling confidence."
The number of Toyota vehicles being recalled in China is small compared with the 8.5 million vehicles recalled worldwide since October for sticky gas pedals, faulty floor mats and glitches in braking software.
Automakers are looking to China for sales at a time of sluggish global demand and as a major driver of the industry's future growth. China overtook the United States as the biggest auto market last year with a 48 percent jump in sales, driven by government tax cuts and subsidies to buyers.
China could be critical to Toyota as quality worries batter sales elsewhere, said Zhang Xin, an industry analyst for Guotai Junan Securities in Beijing.
"It's very important. Toyota in the North American market was almost finished in the short-term, so it has to secure its Asian market. Its biggest market in Asia is China," Zhang said. "It must focus on this."
China's state-controlled media have made only muted comment on the recalls, in contrast to the United States, where Toyoda faced blistering criticism from American lawmakers.
"I think he is also coming to say, 'Thanks.' The U.S. side continues to put him under great pressure, but China doesn't," said Rao Da, general secretary of the China Passenger Car Association, an industry group.
The flood of recalls in the United States has shaken confidence in Toyota's reputation for excellent quality. In China, the company announced a recall of 75,552 RAV4 sport-utility vehicles in late January due to the gas pedal problem.
Financial analysts say Toyota's China sales fell in January compared with December, but it was unclear whether that was linked to the recalls. Spending on many goods sees a lull in January and February due to the weeklong Lunar New Year holiday, and auto sales growth this year is expected to slow after 2009's surge.
The state-sanctioned industry group, the China Association of Auto Manufacturers, said Toyota's China sales in January fell 16 percent from December, according to Zhang. The CAAM refused to release its data, which it said are given only to paying customers.
"It's not about their crisis management ability but also their products. If they can solve the problem, the damage will only be short-term," Zhang said.
Toyota got a relatively late start in China, after fitful efforts to break into the market using tie-ups between its subsidiary Daihatsu Motor Co. and state-run Tianjin Automobile Industry Holding Co.
Toyota rolled out its first made-in-China Camry in May 2006 in a partnership with Guangzhou Automobile Group in southern China. Toyota also a partnership with state-owned FAW Group in the north.
Toyota saw slower sales growth than other foreign brands last year due to its focus on bigger, more-expensive cars while the government was promoting smaller, fuel-efficient vehicles with tax breaks and subsidies. Toyota sales were up 50 percent, compared with 76 percent for Volkswagen AG and 219 percent for General Motors Co.'s Chevrolet unit.
The company is preparing to launch a lower-cost brand for China in response to demand for smaller cars, according to analysts.
___
AP Business Writer Elaine Kurtenbach in Shanghai and Associated Press researchers Bonnie Cao in Beijing and Ji Chen in Shanghai contributed to this report.
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