It was back in 2002 when Fujio Cho, then-President of Toyota Motor Corp., set the company's goal of achieving a 15 percent share of the global automotive market sometime after 2010. Seven years ago, it didn't seem much of a stretch as the automaker had already captured 10.7 percent, and the seemingly-unstoppable company was rapidly growing.
J.D. Power and Associates, the influential industry tracking firm, warned that the global auto market may "outright collapse" due to the lack of available credit and the general global economic conditions in 2009. According to the company, credit market restructuring, fewer leasing options, and declining owner equity are adding additional stress to an already burdened market. Don't turn to the automotive markets in China, Europe, or India either -- they are expected to slow next year as well. Mu
- Our favorite reveals from the LA Auto Show
- You can probably get a great deal on a new Fiat
- 2016 Holiday Gift Guide
- Is it time to buy a Pontiac Aztek?
- Fastest-depreciating cars in the United States
- Most and least efficient car companies