Toyota Motor Corp said its growth rate in China will be cut in half in 2015 after the company failed to meet its 2014 sales target in the country.

The Japanese automaker reported that it sold 1.03 million vehicles in China last year, which was a 12.5 percent rise from 2013, but fell short of the company's sales target 1.1 million cars and trucks sold.

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Despite falling short of its goal last year, Toyota has given itself the same target of 1.1 million  in 2015, which represents a potential sales growth of nearly 7 percent.

Reuters reports that Japanese carmakers in China face the dual difficulties of a slowing economy and recent political tensions between the two countries. The newspaper also reports that the overall growth of the Chinese auto market, which is the largest in the world, was cut in half to 7 percent in 2014.

The decelerating auto sales China has been a major headache for car dealers, which are being forced to boost sales to meet supply targets. China Automobile Dealers Association (CADA) reported that only 30 percent of the auto dealers in China were profitable in 2014; this is compared to 70 percent in 2010, as reported by The New York Times.

Some dealers, according to Reuters, say they were forced to buy stock from Toyota due to unrealistic sales goals, resulting in overstocked inventories and heavy losses.

The CADA, on behalf of more than 500 Toyota dealers, sent a letter to Toyota's joint venture with China FAW Group Co, demanding 2.2 billion yuan ($354 million) in subsidies, and more acheivable sales targets.

CADA Deputy Secretary Song Tao said FAW-Toyota agreed to negotiate with the dealers through a dealers' council. Toyota declined to comment.

The Jiangsu Automobile Trade Management Association, which represents dealers in the eastern province, has complained multiple times to FAW-Toyota about its sales practices.

According to the association, 30 FAW Toyota dealerships in Jiangsu were losing money, and only four were profitable, in part because they were obligated to buy a preset number of cars from FAW Toyota or else face fines.

TagsToyota Expects Growth Rate in China to Plummet, Toyota Motor Corp, Toyota growth rate halved in China, Chinese auto industry, China Automobile Dealers Association, FAW-Toyota, Song Tao, Jiangsu Automobile Trade Management Association