BEIJING (CHINA) -Japanese automaker Toyota Motor Corp said on Thursday, it had 11% more sales in 2020 than compared it’s sales in 2019, narrowing the gap with Volkswagen AG and General Motors CO in the world’s biggest car market. The company stated it sold 1.8 million vehicles last year in China.
It also sold 223,700 imported premium Lexus vehicles in China, an increase of 11.5% from 2019.
Although the automakers’ sales slumped in the first months of last year in China owing to travel restrictions, it’s overall sales recovered in the second half and China’s auto industry now expects sales to have dropped just 1.9% last year.
Toyota did not offer a sales target for China this year in the statement. Rival GM sold 2.9 million vehicles last year in China, down 6.2% compared with 2019. Volkswagen, which sold more than 3 million vehicles in 2019, has not announced its 2020 China sales yet.
The Japanese company has also launched a new joint venture for hydrogen fuel cell systems with several Chinese automakers as it touts own technology in the country.
It is also developing autonomous driving technologies with startup Pony.ai, which has a Chinese background.