Toyota Motor cuts 2009 sales forecast
Toyota Motor Corp, the world's most profitable carmaker, cut its 2009 vehicle sales forecast by nearly 7 per cent due to a severe downturn in Western markets driven by high fuel prices and a credit crunch.
Toyota slashed its earnings forecast for the full year Thursday to less than a third of what it was the previous year, the latest sign that the global slowdown and strong yen are taking a toll on Japan's mighty automakers.