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Special coverage: Auto China 2006
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FAW Toyota decided to lower the manufacturer's advised retail prices of the domestically-made Land Cruiser and Prado by 40,000 yuan on January 1, according to the China Automotive News.

The company's aggregate sales has reached 500,000 units since it was set up three years ago. The company achieved good performance on the drastically competitive market in 2006 with sales of over 220,000 units.

The company adjusted the prices of the two models due to declined import tariff on parts and components and lowered costs. The price cuts will enhance the price/performance ratios of the two models and further strengthen the competition of the two models on the off-road vehicle market.

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The full text is available in the January Issue of AutoChina.

(For more biz stories, please visit Industry Updates)