Toyota Now Cuts Global Outlook For 2009 By 7%

Toyota Motor Corp cut its 2009 vehicle sales forecast by nearly 7 percent as high fuel prices hammer demand for large cars and pickup trucks, and said it will speed up the rollout of hybrid and electric cars as their popularity grows.

The weaker outlook from the world's most profitable carmaker weighed on shares of European rivals and highlighted an increasingly difficult environment, where orders in the United States and Western Europe for high-margin, gas-thirsty vehicles is slumping.

Toyota said on Thursday it expects to sell about 9.7 million vehicles next year including its Daihatsu Motor Co and Hino Motors Ltd units. It had previously forecast sales of 10.4 million vehicles. No carmaker has yet passed the 10 million annual unit sales milestone.

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M35MT - 8/28/2008 2:49:08 PM

+2 Boost

200,000 more units that the 2008 forecast

zairnaim - 8/28/2008 2:53:05 PM

+1 Boost

"A year ago, at its previous business strategy briefing, Toyota had declared a successful entry into the full-sized pickup truck segment in the United States with the Titan -- a model it had billed its most important ever in the world's top market."

shouldn't titan be tundra??

Occarnut - 8/28/2008 5:01:01 PM

+1 Boost

Thank you..I could not agree more!

num1insales - 8/28/2008 4:08:56 PM

+1 Boost

God Bless Toyota!!!!