Wednesday, November 19, 2008

Toyota cuts auto sales forecast for China

Toyota Motor Corp has cut its automobile sales forecast for China by 100,000 vehicles to 600,000 this year, Japan's Nikkei financial daily reported.

The report on Nikkei's website said the previous target would have represented 40 percent year-on-year growth, but the gain would be 20 percent under the revised goal. It said Toyota's senior managing director, Akira Sasaki, disclosed the figures in Guangzhou on Tuesday.

The report said China's economic slowdown was affecting demand and that Toyota was considering revising its medium-term plan there calling for annual sales of 1 million vehicles early in the next decade.

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