AutoBeta(AutoBeta.net)02/24 Report--

A few days ago, according to foreign media reports, Toyota officially denied developing the Chinese cheap car market in China. After Toyota submitted domestic applications for registration of two new trademarks, WIGO and AGYA, which are Toyota's cheap models for the Southeast Asian market, it was reported that Toyota was planning to develop the Chinese low-cost car market.

Judging from the prices of these two brand models in Southeast Asia, the price of less than 60,000 yuan has enabled WIGO and AGYA to successfully occupy the Southeast Asian mini-car market. If the two models are fully introduced into China, then the sales of domestic independent brand companies such as Yadi will have a huge impact. Before that, many car companies have also created plans to launch all-new sub-brands or models in China to develop the domestic cheap car market. FAW-Volkswagen is a typical representative, and some people in the industry speculate. Toyota's move is also to compete with FAW-Volkswagen's new sub-brand.

According to statistics, Toyota sold 1.475 million vehicles in China in 2018 and 10.59 million in the world, ranking in the top three. Toyota is expected to fill up the saturation of domestic car holdings in 2019 when its holdings tend to be saturated. Further occupy the domestic auto market.

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