Hong Kong (CNN Business)The biggest global automakers are having a terrible time in the world’s largest market with one notable exception: Toyota.
Car sales in China fell last year
for the first time in about two decades. GM (GM)
was down 10%, Ford (F)
plunged 37% while Volkswagen (VLKAF)
just about held its ground. Sales of Toyota (TM)
surged 14% to almost 1.5 million.
The Japanese company’s strength in China has helped offset a poor performance in the United States, where its sales are declining. And it’s predicting further growth in China this year.