Toyota's China partner slips into red in Q1

Newswire

SHANGHAI, April 29 (Reuters) - Toyota's main partner in China posted a first-quarter loss on Friday despite car sales rising more than a third, as earnings were hit by rising raw material costs and a loss at a subsidiary. Tianjin FAW Xiali Automobile Ltd. , which makes Toyota Motor Corp.'s Vios and Corolla sedans, also posted a full-year 2004 plunge in net earnings, the latest victim of Beijing's efforts to rein in credit to cool a racing economy. Xiali, China's fourth-largest car maker ...

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