FAW Toyota： Forging Forward, Leading the New Era of Automotive

As an automaker with a deep brand heritage, FAW Toyota has established a good reputation in the hearts of consumers for many years with its reliable quality, advanced technology and excellent service. In the past three years, FAW Toyota’s annual retail sales of new cars have exceeded 800,000 units, with sales of 800,018 units in 2023, an increase of 4.1% year-on-year. It is the only car company that has achieved positive growth among mainstream Japanese joint venture car brands. In today’s highly competitive auto market, independent brands and joint venture brands, new energy vehicles and fuel vehicles are fighting, and FAW Toyota has always occupied an important position in the market with its own strength and continuous innovation spirit.

As a joint venture manufacturer, FAW Toyota’s three comprehensive strategies of "Comprehensive Response to National Policies, Comprehensive Intelligent Hybrid, and Comprehensive High-end" are important guidelines for its development. This not only reflects FAW Toyota’s sense of social responsibility and forward-looking, enabling it to provide consumers with more environmentally friendly and efficient travel options in the context of environmental protection and energy transformation, but also contributes to the sustainable development of the country. The comprehensive high-end strategy enables FAW Toyota to occupy a place in the high-end market.

With the release of the IT’S TiME 2.0 technology brand, it marks a major breakthrough for FAW Toyota in technological innovation. The full deployment of the third-order intelligent electric hybrid dual engine, Toyota Space smart space and Toyota Pilot high-end intelligent drive brings consumers a more intelligent, comfortable and safe driving experience.

According to market sales data, FAW Toyota set a record for the highest monthly sales this year in June, delivering a total of 73,500 new cars. 70,100 new cars were delivered in July; 72,000 new cars were delivered in August, an increase of 2.73% month-on-month. The overall market performance trend is good, and the sales volume is stable and has exceeded 70,000 for 3 consecutive months. To be able to move forward steadily in such a highly invaded market environment is inseparable from FAW Toyota’s own strong car-making ability and product strength that consumers trust.

The intensity of competition in the 2024 automotive market is obvious to all, especially with the decline in the cost of new energy, "the same price of gasoline and electricity" is like a missile thrown at fuel vehicles, squeezing their market share. Coupled with the white-hot competition among brands and the intensifying price war, the survival environment of fuel vehicles can be described as even more difficult. Under the dual pressure of sales and profitability, FAW Toyota has not only maintained a stable growth trend, but also its market share of fuel vehicles has risen. The strong competitiveness is a strong demonstration of FAW Toyota’s continued influence in traditional fields.

According to the data released by FAW Toyota, the new August sales of 9,264 units, an increase of 178% compared with the previous month. The new Asian Dragon was launched in July this year, providing three power 9 configurations, priced from 178,800 yuan. Looking at the sales from January to August 2024, FAW Toyota sold 463,000 units, and the TNGA-K high-end models represented by the new Asian Dragon sold 235,000 units, accounting for 50.8%, an increase of 3.9% year-on-year.

This data fully demonstrates that FAW Toyota’s comprehensive high-end transformation achievements have accelerated and its brand diversification has entered a new level. This not only helps to enhance brand competitiveness, highlight brand characteristics, but also helps to form differentiated competition with other brands, attract more high-end consumers, and expand its market share. And for the product itself, the comprehensive high-end transformation has promoted product upgrades, improved product quality and performance, and improved consumers’ driving experience.

In addition, brand-new, brand-new, brand-new, and brand-new high-end models are equipped with FAW Toyota’s third-order intelligent electric hybrid dual-engine, Toyota Space smart space, and Toyota Pilot high-end intelligent driving, enabling FAW Toyota to form a new pattern of full layout of intelligent electric hybrid dual-engine products and comprehensive intelligent mixing of brands.

Taking the new Prado as an example, its 2.4T 1MT HEV super hybrid system and 288V high voltage DC motor can burst out powerful torque at low speed, giving the vehicle the ultimate off-road and reliable escape ability. The application of high-end technology not only improves the quality and performance of the product, but also plays an important role in promoting the development of the brand. While improving the brand perception, it can also attract more high-end consumers, so that more consumers can appreciate the charm of FAW Toyota.

In 2024, FAW Toyota will be on full fire. In the face of the "dire straits" of the Chinese auto market, FAW Toyota will not be afraid of the deep clouds with the "long-term doctrine" of "long-term success", and "abundant" will be calm. Meeting challenges with smarter methods has become a model of sustainable development in the industry. In addition, FAW Toyota is also constantly expanding the new energy market and realizing the coordinated development of traditional fuel vehicles and new energy vehicles, setting a transformation benchmark for the automotive industry and promoting the entire industry to develop in a higher quality, smarter and more environmentally friendly direction.

In the current Chinese auto market, independent brands and new energy vehicles are developing rapidly, consumer demand for cars is also changing, joint venture brands are also increasing marketing activities and product delivery efforts, under fierce competition, FAW Toyota wants to occupy a leading position in the market, still facing greater challenges. I believe that in the future, FAW Toyota will continue to strengthen product innovation and marketing activities, uphold the spirit of innovation, bring more high-quality products and services to consumers, and create more brilliant performance in the automotive market.