Toyota Motor has asked two main Japanese banks to set up a line of credit score totaling JPY1 trillion (US$9.2bn), in accordance with native stories citing company sources. The transfer signals the carmaker’s issues over rising funding costs as international vehicle demand continues to plunge because of the COVID19 coronavirus. Volkswagensays it’s optimistic the Chinese vehicle market would return to close to last year’s degree by early summer time, following signs of a powerful gross sales rebound in current weeks. The German group is the largest automaker in China through its joint ventures with local state-owned enterprises FAW Group and SAIC Motor. Volkswagen Group China CEO Stephan Woellenstein told native reporters “there are more and more signs that business in China is recovering.

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