Toyota China Dealer Group Says 10% May Quit After Losses
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As many as 10 percent of dealers for one of Toyota Motor Corp.’s China ventures are poised to drop out of the network because they can’t make money on the cars they’re told to sell, a dealer’s group said.
Among the 523 distributors in the FAW-Toyota Motor Sales Co. group, 95 percent are losing money, Song Tao, a deputy secretary of the China Automobile Dealers Association, said in a phone interview. Some dealers may have to stop selling FAW-Toyotas or shut altogether because of the losses, he said.