Toyota’s sales in China grew 21% in 2009, a slower rate of growth than major competitors, Reuters reported. Toyota’s China division sold 709,000 cars in 2009, far short of General Motors’ 1.83 million vehicle sales and 67% growth, though the GM numbers include models sold by its microvan joint venture with SAIC and Liuzhou Wuling Automobile. Analysts attribute Toyota’s slower growth to its lack of small-car offerings in China. The market for small cars grew rapidly in 2009 due to a government tax incentive program. Masahiro Kato, president of Toyota’s China operations, said that he anticipated sales of 800,000 vehicles in China in 2010.
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