Slowing sales in major markets and a stronger yen are likely to cause Toyota to miss its group-wide global sales target this year, a senior executive has said.
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“Frankly speaking, sales in the US, Europe and Japan are showing signs of slowdown. It will be difficult to meet the group’s sales target of 9.85m, although emerging markets such as China and Russia are active,” Tokuichi Uranishi, executive vice president of Toyota, told Reuters in Seoul.
The news agency noted that the sales target is 5% higher than for 2007.
Rising raw material prices are another concern to Toyota, Toyota chairman Fujio Cho said.
“The rise in raw material prices has been excessive this year. Coping with this is one of our top priorities,” Cho told Reuters.
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