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Business trends

Chinese market becomes last best hope in virus-ravaged world

Global manufacturers ramp up local production as other economies founder

A man walks by Tesla Model 3 sedans and Tesla Model X sport utility vehicle at a new Tesla showroom in Shanghai.   © Reuters

BEIJING -- Toyota Motor has been quicker than rivals to bounce back in China after the new coronavirus all but shut down the economy, with the Japanese automaker boosting output on the year here in April.

Tatsuro Ueda, its CEO for China, has sent a flurry of directives from the headquarters in Beijing to production sites across the country to get vehicles to as many customers as possible. Toyota seeks to capitalize on stronger demand for personal autos as consumers worry about catching the virus on public transit.

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