Toyota cuts 2009 sales target, 10 million goal set for next year

Toyota said that it will cut its goals to sell more than 10 million vehicles in 2009 by at least 5 percent. No surprise here as Toyota is also struggling due to the lack of demand in the trucks and SUV segment in the U.S.

Toyota is now hoping to selling 9.8 million vehicles in 2009 and will move its goal to sell 10 million units to the next fiscal year.

“Looking at the state of the North American and European markets, frankly it’s difficult to expect an improvement next year,” auto analysts Kota Yuzawa of Goldman Sachs said.

Investors and analysts both feel that Toyota will well positioned as the world’s largest and most profitable automaker when the global economic conditions bounce back.

Source: Automotive News (Subscription Required)