Toyota Motor has again cut its 2008 forecast for US sales and extended zero-interest deals due originally to end on Monday.
Go deeper with GlobalData
It is now forecasting sales of 2.2-2.3m units (from 2.44m) after October sales dropped almost 26% to 152,101 units.
Earlier this year, the automaker dropped its forecast for North America, excluding Mexico, to 2.7m units from 3m.
While Toyota US division general manager Bob Carter was quoted as saying that challenges to the auto industry are expected to continue to the end of the this year, Toyota Motor president president Katsuaki Watanabe last month said the business environment had deteriorated more than expected and predicted North America’s car market would remain slow until 2010.
He added Toyota now expected the US to remain a tough slog throughout all of 2009, instead of recovering from spring of next year as originally thought.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
