Toyota Motor Corporation just rolled off its first Chinese-built Camry sedan which is based on the highly succesfull U.S. model. The launch, from Toyota's new $475 million factory in Nansha, near the southern city of Guangzhou, symbolizes the automaker's ambitions for China, which is about to surpass Japan as the world's second-largest auto market. Toyota, a relative latecomer to China, hasn’t revved up in the specific market, as it controls just 3,5 percent of the Chinese market, with 180,000 vehicles sold in 2005. That puts it behind top foreign automakers like GM (665,390 units) and Volkswagen.
The former Camry was the lead import model in China during the past decade, selling about 30,000 cars annually. By shifting production to China, Toyota hopes to double its sales. Toyota's new plant comes with an annual output capacity of 100,000 units, though it aims to build 60,000 units this year. If the Camry takes off, a second shift will be introduced lifting capacity to over 200,000 units.
The new China-built Camry will sell for between $25.000 to $35.000 (200.000 yuan and 270.000 Yuan).
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