FAW Toyota denies rumors of market exit and major price cuts

FAW Toyota has issued an official statement denying recent online rumors claiming the company might exit the market or implement massive price cuts. The company clarified that its production, sales, and product iteration plans for all models are proceeding according to schedule and that business operations remain normal.

The rumors appear to stem from market speculation following a strategic cooperation framework agreement between FAW Group and GAC Group. Specifically, GAC Group has announced plans to acquire a 50% stake in FAW Toyota from FAW Group through share issuances. FAW Toyota emphasized that while the equity structure may change following this transaction, the company will continue to operate as an independent legal entity, leveraging increased resource advantages from the group cooperation.