| Mar 16 |
Toyota Slashes Sales Plan as US Rate Stalls Its Momentum WToyota announced sprawling manufacturing changes in the US and shutting down truck and SUV production, to respond to changing consumer demand. Even with the lower number announced yesterday, Toyota Motor Corp plans to sell more vehicles than it did last year. The pace of Toyota’s growth has been slowing. Under the new target it would inch up 1 percent this year, in contrast to a 6-percent climb in 2007, when it sold 9.37 million vehicles. “The main reason for the change came from the faltering United States economy, and how rising oil prices and material costs are dampening the market there overall,” said Toyota spokeswoman Kayo Doi. The Japanese and west European markets were also sluggish, but Toyota’s solid sales in China, the Middle East and other markets were enough to maintain its worldwide growth, she said. |


