Toyota Motor's production capacity utilization rate in China has declined, facing the dilemma of oversupply

Toyota, the world's largest automaker, is facing an oversupply situation in its joint ventures in China. FAW Toyota and GAC Toyota have a total of six vehicle factories with a combined production capacity of 2.42 million vehicles, but Toyota's total sales in China last year were about 1.7 million vehicles, with a capacity utilization rate of about 70%.