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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

Toyota sales improve in China following waning 'island spat' with Japan

Tuesday - Dec 04, 2012, 03:44pm (GMT+5.5)
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Toyota sales improve in China following waning 'island spat' with Japan Washington - Japanese automobile firm Toyota Motor Corp. has said that new car sales in China has dropped to a softer 22.1 percent to 63,800 units in November, indicating the fallout from the anti-Japanese protests in China this summer has begun to wane, according to a report.

In October, Toyota's sales sank 44.1 percent from the previous year, while separately, Mazda Motor Corp. reported new car sales in the country fell 29.7 percent in November on year to 12,187, improving from a 45.0 percent fall the previous month, The Japan Times reports.

According to the report, from January to November, Toyota's sales in China slid 3.3 percent from the same period last year to 749,600, making it unlikely the company will achieve its target of selling 1 million cars in China this year.

Sales plunged 48.9 percent in September after the Japanese government purchased some of the Senkaku Islands from a private Japanese owner the same month, sparking extensive demonstrations across China, the report said.

The islets in the East China Sea are administered by Japan but also claimed by China as Diaoyu and Taiwan as Tiayutai, it added.

However, Japanese automakers resumed sales campaigns in China, the world's largest auto market, around mid-October as the hostilities showed signs of subsiding, the report concluded.


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