Toyota launches promotional campaigns in China

Toyota Motor Corp. kicked off sales promotion campaigns at 550 Chinese dealerships to counter a drop-off in customers. At 350 dealerships belonging to a sales joint venture with China FAW Group Corp., Toyota is offering to pay 1,000 yuan (US$146) in auto insurance premiums for people buying cars. The automaker is handing out 88 yuan (US$12) worth of gasoline coupons to people who just take the vehicles for a spin. At 200 dealerships operated by a sales joint venture with Guangzhou Automobile Group Co., the interest on auto loans has been reduced to effectively 0% for people who buy the Camry, a mid-size passenger car. Toyota’s Chinese sales have been hit by the auto giant’s worldwide recalls, which have reduced confidence in Toyota products. (March 6, 2010)