Toyota says not optimistic on China profitability

Toyota Motor Corp said it "can't be optimistic" about profitability in China, the world's biggest auto market, where slowing growth is forcing the Japanese manufacturer to cut prices and offer buying incentives to keep up with rivals. Toyota, which on Tuesday reported record first-quarter net profit for the third consecutive year, enjoyed rising China sales but price wars were sapping profit, company officials said at an earnings briefing. China auto sales fell each month in