China’s total car sales outstripped the US for the first time in January to make the Asian giant the world’s largest car market.
China, the statement noted, was now VW’s largest market, accounting for more than one in five of all vehicles sold.
Nissan plans to boost the annual production capacity of its factory in southern Guangdong province by 250,000 units to 600,000 by 2011, taking its total capacity in China to 700,000 units.
The Nikkei business daily reported Thursday that Toyota will spend 30-40 billion yen (330-440 million dollars) to build a research centre in China to develop vehicles for the fast growing market there.