FAW and Toyota Establish Joint Sales Company in China

Tokyo ― CHINA FAW GROUP CORPORATION (FAW) and TOYOTA MOTOR CORPORATION (TMC) have jointly established a vehicle sales company, FAW Toyota Motor Sales Co., Ltd, (FTMS), which will begin operations on Nov. 1, in order to strengthen their automobile operations in China.

The new company has been established to quickly and accurately determine customer needs, leading to the timely planning and sales of products. Specifically, the company will handle sales and after-sales service of Toyota and Daihatsu (DARIO*) brand vehicles and parts/accessories produced in China. These include the midsize bus Coaster and small passenger car VIOS, which are both already produced and sold in China, together with the medium/large-class luxury sedan Crown, Land Cruiser and Land Cruiser Prado in the medium/large-class luxury SUV category, and the small passenger car Corolla, for which an agreement was signed on April 9 this year, and the compact SUV Terios, due to be sold as part of the new DARIO series developed by Daihatsu Motors Co., Ltd. (Daihatsu) specifically for the Chinese market. *Taken from the Spanish word “diario,” meaning “daily”

The new company's headquarters will be located in Beijing, with branches in Tianjin, Changchun, Chengdu, Shanghai and Guangzhou. At the time of the commencement of operations in November, the company will have 68 dealers across China.

On Aug. 29, 2002, FAW and TMC agreed to establish a strategic and long-term cooperative relationship covering their automobile business in China. By establishing joint operations on the sales front, in addition to the collaborative production system, FAW and TMC plan to further solidify their relationship and better contribute to the further development of China's automotive industry.