Filed under: Car Buying, Toyota
Toyota cuts global sales target to 9.5M vehicles
If there was ever any doubt that the auto industry is in a very rough patch, today's news from Toyota should erase any doubt. A Japanese newspaper is reporting that the automotive juggernaut has unofficially revised its 2008 sales forecast from an ambitious 9.85m vehicles to a still blistering 9.5m units. Not only is the high price of gas and a dismal U.S. market contributing to Toyota's woes, it's also seeing slower than anticipated sales in Japan and Europe. The news comes a month after Toyota announced U.S. cuts of its trucks and SUVs. Helping to mitigate the sales decline are the white hot emerging markets of Russia, China, and India, where Toyota is doing very well.
While Toyota hasn't officially stated that it would be revising its sales projections downward, this isn't the first time we've heard a dip could occur. The news isn't all bad for Toyota, as reaching 9.5m units would still be the most Toyota has produced in one calendar year. Toyota is expected to officially announce changes to its global sales projections by the end of July.
[Source: Automotive News (subs req'd)]
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Reader Comments (Page 1 of 2)
Brian 10:08AM (7/16/2008)
Not moving any of your 4runners, prerunners, FJ cruisers, Highlanders, Land Cruisers, Rav4s, and Secquoias like you thought you were uh? Proof that the D3 aren't the only ones feeling the burn of the economy.
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tankd0g 10:21AM (7/16/2008)
More like, can't build Prius, Yaris and Aygo fast enough eh?
rypt 10:26AM (7/16/2008)
Rav4 actually gets decent MPG :)
Kingus 11:02AM (7/16/2008)
Brian: They had to cut their forecast by less than 5% That sure is some heat they're feeling.....
why not the LS2LS7? 12:34PM (7/16/2008)
tankd0g:
Both are true. They decided to make big trucks instead of small cars and are now paying the price. Just like other companies.
And to your point that this is all because of their car mix, it's likely that's just not true. People aren't just buying smaller cars, some buyers are deferring purchases altogether or buying used.
GTrav 10:19AM (7/16/2008)
Ummm Brian: No manufacturer is moving trucks/suv's like they "thought they would". And no manufacturer is not "feeling the burn" some just have the ability to adapt more quickly.
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baffledu2 10:32AM (7/16/2008)
And precisely how is Toyota "adapting more quickly???"
Doing the same thing the domestics are doing ... idling plants and adjusting production ... at the same pace or even slower than Ford.
rypt 10:36AM (7/16/2008)
Um, wrong there. Toyota plant's can be changed from building one type of car to another very very quickly.
baffledu2 10:53AM (7/16/2008)
If I am not mistaken Toyota's Tundra plant is shut down and it will not be overnight when they are building Yaris on that line.
tekdemon 8:38AM (7/18/2008)
While Toyota is also idling the plants, they're refitting them and keeping everyone on payroll (they're sending all the workers to quality improvement training). No, Toyota didn't see into the future and do this ahead of time, but it's still nice that they're able to convert the factories to build other cars (they're bringing Prius production stateside to take up plant capacity since demand is so high). Also convenient that they can kill 2 birds with one stone with the quality training.
But mostly it's nice because they haven't fired anybody.
mikomi 10:40AM (7/16/2008)
Toyota has been seen as being immune to economic downturns. So Toyota finally feeling the pain does not speak well for the direction the global economy is headed.
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Vintage 10:46AM (7/16/2008)
Yet another sign of blatant over production of vehicles.
Make old ones last longer, keep them on the road longer. That is the only true 'green' choice.
http://www.youtube.com/watch?v=ooN9INJxxy4
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Kingus 11:00AM (7/16/2008)
people will always buy new cars when they can though, thats not something you can change. Might as well have them buy more fuel efficient vehicles then.
The only "true 'green' choice" would be riding your bike or walking.
baffledu2 11:05AM (7/16/2008)
"The only "true 'green' choice" would be riding your bike or walking."
OR running America's transportation system on pollution free, domestically produced hydrogen.
It is time to change the question that started in the 70's. We are still asking how to stretch oil (hybrids - ethanol) how to find more oil (ANWAR - Offshore) how to refine more oil (the oil companies will take care of that to keep us hooked) how to beg borrow or steal (Iraq) more oil.
The only relevant question is how to eliminate it. Hydrogen is the only viable answer unless you want to go electrice and import natural gas instead.
Kingus 11:12AM (7/16/2008)
Hydrogen is not a source of energy! It takes energy to separate it from other elements. It is glorified battery tech that requires a massive infrastructure upgrade.
Riding you bike or walking is definitely greener than mass transit based on a hydrogen economy.
baffledu2 11:24AM (7/16/2008)
Kingus
Hydrogen is readily available as America is once more blessed with three oceans of it off our coasts. The bond that must be broken is with oxygen (H2O). This can be accomplished in a number of ways with the use of electricity being the most prevalent. However, it can also be done totally "green" with the use of genetically altered bacteria introduced to water and placed in the sun. We have huge areas in the S.W. of this country that are perfect for both solar electric genertion and hydrogen production.
Kingus 11:42AM (7/16/2008)
or we could just go with EV's since they already have an existing infrastructure in place (power grid).
why not the LS2LS7? 12:36PM (7/16/2008)
autoblog moderators:
Are people allowed to post the same screed in every article like this?
If they are, could you consider perhaps changing the rules? Because it's really boring to see the same comments in every article. It kind of destroys much of the point of comments being attached to particular articles.
baffledu2 1:11PM (7/16/2008)
Kingus ... and the electricity comes from ????????
Coal and imported natrual gas!
why not the LS2LS7? 1:19PM (7/16/2008)
Okay, I can't make that last statement disappear, but I apologize for posting it. It wasn't my place to say.