Toyota cuts 2009 sales forecast to 9.7 million vehicles

HONG KONG (MaketWatch) — Toyota Motor Corp. Thursday cut its 2009 vehicle sales forecast by 6.7% due to a sharp downturn in the U.S. and Western European markets, according to media reports. The automobile giant now expects to sell 9.7 million vehicles in 2009, compared with its previous forecast of 10.4 million vehicles, the reports added. “We are looking at the current shift towards fuel-efficient cars [in the U.S.] as a structural change in demand,” said Toyota President Katsuaki Watanabe at a news conference in Tokyo, according to Reuters. “We intend to respond quickly and flexibly to this environment.” Toyota shares ended unchanged in Tokyo trading.
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