China’s SUV sales surged 25 percent in 2008, compared with a 7 percent increase for the overall passenger-car market, according to the China Association of Automobile Manufacturers.
“Cars like the RAV4 are targeting the rich in China,” said Toshio Konishi, who helps manage about $1.3 billion at Polar Capital Partners in Tokyo, including Toyota shares. “Toyota can’t feed their appetite for status symbols fast enough.”
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