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Being Toyota doesn't grant you any additional immunity from simple global economics. Word from Tokuichi Uranishi, executive vice president of Toyota, is that one of the world's largest automakers is going to miss its sales target of 9.85 million vehicles for 2008.

Toyota execs cite slowing sales in the United States, Europe, and Japan as a primary factor. In addition, rising raw material costs are hurting the global automaker, which assembled 9.37 million vehicles in 2007. To top it off, a yen that hit a 13-year high against the dollar at the beginning of this week is cutting profits on exports from Japan.

It may be up to China, Russia, and Korea to pick up some of the slack. Those emerging Asian markets are active, and Toyota is looking at them for future growth. In a move towards achieving that goal, the Prius, Camry, and RAV4 sports-utility will be introduced in South Korea shortly. Sales are expected to be just 500 units per month initially, and then increase to upwards of 1,000 a month.

[Source: Automotive News, subs req'd]

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    • 1 Second Ago
      • 7 Years Ago
      • 7 Years Ago
      "To top it off, a yen that hit a 13-year high against the dollar at the beginning of this week is cutting profits on exports from Japan."

      You had me for a second. All the educated Americans on autoblog (i.e. not those dumb domestic fans) will tell you that all Toyota parts come from America. So there is no disadvantages to the weak dollar for Toyota. Just advantages. Tell GM to stop making their latest (hybrid) technology in Japan and assemble the parts there unlike Toyota who builds all their hybrid parts in America.
      Synergy is our savior!

      • 7 Years Ago
      I think you might wanna run that by them again!! They havea hard time understanding that.

      Except, Honda is just as boring! The only true RWD honda has is the S2000!!!
      • 7 Years Ago
      "Toyota has the most boring, ho-hum line of cars ever assembled"

      You are crazy. All one has to do is go to toyota.com and put their cursor over the VEHICLES icon. If you don't think those are the most beautiful line up of cars you've ever seen then there is something wrong with you. Each one more beautiful than the next. I could stare at those gorgeous vehicles all day long.
        • 7 Years Ago
        Wow, I love sarcasm! I have not had a laugh that hard in a while. Thanks!! I needed that...
        • 7 Years Ago
        You're either a slathering fanboy or a Toyota marketing executive, I can't decide which...

        Quick, how do you feel about eating sushi and winning NASCAR races while speeding down a giant see-saw?
      • 7 Years Ago
      loks great on them. they lap up the gravy of the yen and are the darlings of the automotive (reporting) community as the unstoppable juggernaut..

      This is hardly a surprise to anyone who looked at the info objectively.
      • 7 Years Ago
      There is a God! Oh I am SO happy about this.

      BOO! Toyota! BOO!
      • 7 Years Ago
      They are losing sales in Japan because the the Japanese are dying off. They face a bleak demographic problem where more Japanese are dying than being born. So even with over 40% of the domestic market, Toyota's sales in Japan will decline.
        • 7 Years Ago
        Whoa there! "Bleak demographics"? You sir, are a master of understatement. It's not bleak... bleak assumes a sliver a hope. What they are facing is a "death spiral". A death spiral which has already started as Japan's population peaked out a few years back.

        It's the death spiral that has the Japanese building cute personal service robots to help their aging population (since there are no young'ins to do the work) while we are building robots like the Big Dog.


        Who will of course one day be our masters.
      • 7 Years Ago
      BTW, while at toyota.com make sure you see home page icon about Toyota winning in NASCAR. Thank you Joe Gibbs and company! You are a true Americans. After only 37 years of loyal service you too will be offered a board position. If only you were born in superior Japan you'd be on the board by the end of the NASCAR season. Joe, I know you are a religious man, how is your conversion to Buddhism going? Can't wait for your next speech at the temple.
      • 7 Years Ago
      The question, of course, is *by how much* they're going to miss that mark.

      9-point-anything million vehicles sold and you're probably feeling pretty good.
      • 7 Years Ago
      Gee, about time they ramp up the LF-A and the rumored AE86, no?
      • 7 Years Ago
      And the gap narrows yet again. Volkswagen, once more unto the breach! Pump out them crappy little cars...
      • 7 Years Ago

      Boo freekin Hoo....

      The only reason they're complaining about materials cost is because they lost some of that cost advantage they've grown accustomed too (now that the dollar has tanked).

      Of course, these cost have been a thorn in the domestic's side for some time now. It's absolutely ridiculous how much these raw materials have jumped. Some of them over 200%.

      Welcome to the real world Toyota!
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