Toyota to post first annual sales drop in a decade

Toyota, one of the leaders when it comes to automotive sales, is expected to post its first decline in annual global sales in a decade this year. According to the Nikkei daily, Toyota’s sales will fall to 8.3 million in 2008, down from 8.43 million units from 2007.

The paper said the decline is due to the weak demand in the U.S., along with the global financial crisis and fear of an international economic slowdown. We’re waiting to see how this adds up to GM’s annual sales since both companies have been neck-and-neck to be the world’s biggest automaker.

Toyota will release its annual sales report in Jan. 2009.

Source: Detroit News