Exploration

In the bustling Chinese market, Toyota is making strides to enhance its credibility and increase its market share. Satoru Mouri, Toyota's managing director, has acknowledged that the car maker needs to improve its standing to be considered a significant player in the region.

Toyota has announced that it will not establish any joint venture sub-brand in China in the coming years. Currently, Toyota's joint venture models hold a modest 5 percent of the market share in China. The production of the Toyota Prado is set to begin in Chengdu, though the specific joint venture responsible for this production remains undisclosed.

One of Toyota's joint venture vehicles, the bZ3, produced in collaboration with BYD, has already hit the Chinese market. Priced at 27,400 USD, the bZ3 marks a new beginning for Toyota in China.

Satoru Mouri has emphasised that Toyota isn't yet the best brand in China and doesn't hold a substantial market share. He believes that it will take some time for consumers to become familiar with the Toyota brand in China. However, Mouri has also stated that when Toyota is recognised as a great brand in China, it will be the right time for the company to develop its joint venture's own sub-brand.

In the meantime, Toyota's strategic focus is to associate the brand with high-quality and high-technology products. The company aims to sell 900,000 units in China this year, a target set against the backdrop of an expected 15 percent growth in the Chinese auto industry in 2011.

The specific details about the joint ventures (FAW-Toyota and Guangzhou-Toyota) are not discussed in the current context. The exact timing for the development of Toyota's own sub-label for its joint venture in China remains unspecified. Nonetheless, Mouri's statements suggest that Toyota's commitment to establishing a strong presence in China is unwavering.