Reported 8 months ago
In China, FAW Toyota recently announced a major price drop on their Corolla models. The Corolla SUV and sedan are now discounted by 30,000 RMB and 43,000 RMB respectively, bringing their prices down to around 99,800 RMB and 79,800 RMB. FAW Toyota's decision to offer such significant discounts is likely due to declining sales and market share in China, with sales down by 12.4% in the first five months of the year compared to the same period last year. Other Toyota models like RAV4, bZ3, bZ4X, and Asia Dragon also received discounts ranging from 55,000 to 70,000 RMB, except for the Prado. This move aims to stimulate sales amidst the challenging market landscape.
Source: YAHOO