Toyota Revamp in China Points to Big Changes for Car Makers

Toyota is changing how it runs its business in China, and experts think this move points to much bigger shifts for the entire car industry in the country. The Japanese car maker plans to change its setup to better fit the fast-growing local market, where local brands making electric cars have taken a large share of sales. Right now, foreign car companies face heavy pressure in China as buyers move quickly toward smart vehicles and electric models built by local firms. Toyota has not shared every single detail of the plan yet, but industry watchers say these steps are needed to stay in the race. Other global car makers are also watching these moves closely to figure out how to keep up with the fast-changing demands of drivers in China.