Toyota looks to lower '08 sales target

[FarCenter]

The Yomiuri Shimbun

http://www.yomiuri.co.jp/dy/business/20080717TDY01301.htm

Toyota Motor Corp. decided Wednesday to revise its sales goal for 2008 downward from 9.85 million units to about 9.5 million units, due to sluggish sales in the U.S. market, company sources said. ... Despite the downward revision, the carmaker's sales for the current year are still expected to surpass 2007 sales of 9.36 million cars.

Since 2002, Toyota's car sales have increased by more than 500,000 units each year. However, the sharp sales increase is slowing due to surging gasoline prices worldwide. In the U.S. market, the automaker initially expected sales of 2.64 million cars this year, up 1 percent from the previous year. However, sales in the first half of the year turned out to be 1.24 million cars, marking a year-on-year decline of 6.8 percent,

...

Toyota has already started steps to reduce production in the United States to cope with sluggish sales in the U.S. market, including the decision to close three plants for three months from August. This made it necessary for the carmaker to revise downward its sales target in the U.S. market by at least 10 percent.

...

In 2007, Toyota was ranked second in global car sales, selling only 3,524 fewer units than General Motors Corp. GM has yet to announce its sales targets for 2008. But as part of efforts to overhaul its management, GM is to slash production and close plants for large vehicles, among other measures. Some observers believe Toyota might sell more vehicles than GM this year.

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Toyota to build 2nd Brazil plant


Meanwhile, Toyota announced Wednesday it would build a new manufacturing plant in Sao Paulo. The new plant is scheduled to start operations in 2011 and will likely produce 150,000 compact cars per year, according to the company. The plant, which will likely cost about 60 billion yen to build, will be Toyota's second production center in the country. The Brazilian plant will manufacture low-priced compact cars and will target emerging economies, the company said. The model of car to be produced at the Brazil plant is under development. Toyota currently manufactures about 60,000 Corollas in Brazil per year.

[Rex]

1. Cars? Who can afford gas?

Anyone buying a new car this year?

[WorseBeforeBetter]

2. Nope, I'm paying off the Skooby Du in a few months and hope to keep that baby...

another 7-8 years.

I can still afford gas, but I have cut down on the quick trips around town -- I'm now the Queen of Consolidation.

[Rex]

4. I got a KIA last year that gets 38 mpg.

Doubt I will be able to afford another car for oh...a decade maybe.

[doc03]

7. Well I was considering replacing my

1999 Mercury Tracer with a Honda Civic. Last week I checked out a Honda dealer and they didn't have any, they had lots of V-6 Accords and pickups but no Civics. Just 3 months ago they had 27 Civics on the lot and the V-6s were selling like hot cakes. The American public is f--- up, you watch if the gas goes back to $3.50 they will want the SUVs again.

[MercutioATC]

3. Isn't Toyota selling fewer cars one of the signs of the apocalypse?

The end times are nigh.

[doc03]

8. One of the reasons Toyota is selling fewer cars

is they have become too Americanized. Look at their line up both the Tacoma and Tundra pick-ups, and pretty much down the line were all made larger with more power. Except for the Prius they have become another GM or Ford.

on edit: Another problem, Toyota's great reputation for quality has also suffered and I am sad to say the larger the percentage of their vehicles that are built in the US the worse their quality has become on average.

[IDemo]

5. That's ok. My '93 Toyota only has 44k miles

I figure it should last at least until the year 2100.

[EbenezerMcIntosh]

6. They are going to have to lower it a lot more than that.

Our government and foreign financial interests are intentionally bringing the poor and middle classes of this country to its knees. But you do not believe me.