Aug 28, 2008
Toyota lowers 2009 global sales target
Toyota lowered its global sales target for 2009 to 9.7 million vehicles on Thursday, down from an earlier 10.4 million vehicles, blaming 'tough times,' caused by rising material costs, a slowing U.S. market and soaring gas prices.
Toyota Motor Corp. has already trimmed its global vehicle sales forecast for this year to 9.5 million vehicles from the previous 9.85 million.
President Katsuaki Watanabe said Japan's biggest automaker will continue to boost growth by focusing on gas-electric hybrids as a core strategy, and offsetting declining U.S. and European demand with sales in emerging economies.
Read full story from The Associated Press
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