Oct 5 — FAW Toyota said on its official Weibo account that a strategic
cooperation framework agreement between China First Automobile Group (FAW Group)
and Guangzhou Automobile Group (GAC) sparked market and consumer attention. The
company, present in China for 23 years with a full product lineup, established
production, sales and after-sales networks and tens of millions of vehicles in
use, said production, sales and model refresh plans are proceeding as scheduled
and it will leverage broader group resources to continue innovation. FAW Toyota
said online claims that it will withdraw or that Toyota will make steep price
cuts are false and the company reserves the right to pursue legal action.
