Akio Toyoda testifies before the US House Committee on Government and Reform examining the Federal government's response to the recall of Toyota vehicles on February 24, 2010. [CFP]

Akio Toyoda, the president and CEO of Toyota Motor Corporation, will hold a press conference in Beijing at 6:00 PM (Beijing Time) Monday, to "reiterate Toyota's promises of quality and safety to Chinese consumers", said a spokesman of Toyota.

Currently, China is the world's largest auto market. Toyota recall crisis has inevitably damaged Chinese consumers' confidence in Toyota.

Zhang Zhiyong, an industry experts, noted that the main purpose for Akio Toyoda's China tour is to stabilize Toyota's market situation in China, as the recall crisis will bring numerous uncertainties to the company's US market.

Last year, sales of Toyota fell 21 percent year on year in the US to 1.554 million units. During the same time, although sales in China was only 709,000 units, the growth rate was 21 percent, indicating that China was Toyota's fastest-growing market.

Zhang said that Akio Toyoda's press conference was "symbolic."

In China, the company announced a recall of 75,552 RAV4 SUVs in late January due to the gas pedal problem. Media's massive reports have made the incident well-known in China.

According to a survey conducted by TNS Group, Toyota recall crisis is known to 74 percent of Chinese consumers and two thirds of them noted that the incident damaged their confidence in Toyota.

"Almost all the consumers ask me about Toyota recall crisis in the US.," said a Toyota dealer in Guangzhou.

After the Spring Festival holidays, China's auto market is expected to warm up in March. Toyota sales in China will be greatly affected if the company failed to handle the recall crisis properly.

(People's Daily March 1, 2010)