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We knew the auto industry was in bad shape and it didn't take long to extend its poisoned-tipped tentacles into the world's automotive juggernaut. In August came news that the Japanese automaker had cut its sales forecast for 2008 from 10.4 million vehicles to 9.7 million. A Japanese newspaper, though, says it expects Toyota to only sell 8.3 million for the year. If true, it would be the company's first year o
Further proof that no automaker is immune to effects of the sales downturn in the U.S. comes as Toyota has just announced 0% financing on 11 of its models, including the hugely popular Camry and Corolla and a slew of SUVs and trucks. Last month, incentive-averse Toyota posted a drop in sales of over 30% compared to a year ago and the rest of the year Jeremy Korzeniewski
Toyota is not used to seeing its profit margins drop, as the Japanese auto giant has enjoyed increased profit for nine straight years. Expect that run to end this year, though, as Toyota is discovering that it is not immune to the downturn of the American auto market. For the year, Toyota has revised its
Toyota posted a 10% sales decline for its bread-and-butter brand of over the month of June, with numbers that are even worse -- an 11.5% drop -- when the Scion and Lexus brands are added into the equation. In response to these very un-Toyota-like sales declines, the automaker is now revamping its vehicle production in the States. Though it has already introduced measures to Jeremy Korzeniewski
Every month, our intrepid leader over at Autoblog crunches every automaker's U.S. sales figures and dutifully reports how well each brand is doing. This month continues the trend of fuel efficient vehicles recording record sales and closely mimics the trend of gas-guzzlers going down the toilet. The two brands which best seem to mark the turning of the tides, so to speak, are Mini and Hummer. Mini's
Toyota's bet that it could sell more vehicles in 2008 than in 2007 may not have been a wise one. Though Toyota's hybrid models and small cars are selling very well in the U.S., sales of pickups and SUVs have truly tanked, and Toyota had been counting on those sales just as much as its competitors. Of course, the giant automaker from Japan couldn't have known that far in advance just how
The current economic environment in the United States is hurting all auto makers these days, even mighty Toyota, which was once considered immune to so-called market realities. Though its overall performance last year would be considered a stellar achievement for any other automaker, Toyota's 28% profit plunge in the fourth quarter of 2007 points to an expected 27% drop in annual profits in 2008
With Toyota reporting its daily average sales rate fell 6.6 percent last month, it might be easy to think the retirement of nine U.S. executives is a sign that the company is getting ready for a new start. But at least one analyst thinks something else might be happening. Head hunting.
If it were poker, Toyota would have looked at GM, pushed all its chips into the pot and said, "You know what that means." The other marque in the battle for worldwide supremacy has raised its projection for 2008 sales by 5-percent over this year, expecting to sell 9.85 million cars around the world on production of 9.95 million cars. This year, 2007, GM is estimated to have sold 9.3 million cars, compared to Toyota's estimated sales of 9.36 million.
Toyota is on track to meet its target of 9.34 million vehicle sales this year despite fears of plant closures, flagging sales in the Japanese domestic market and lost production from this past week's earthquake. The Japanese juggernaut has already eclipsed closest rival GM in global sales for the first half of the year and is still seeing sales in key U.S. markets where most American
As you can see from our categories list over to the right, GM and Toyota are the top two automakers we write about most often here on AutoblogGreen (as time goes by, the numbers will change, so I'll note them here for future readers: GM = 231, Toyota = 267) and that slight lead by Toyota is a hint of the big news from Toyota today: the Japanese automaker has, for the first time, outsold GM. The numbers are 2.35 million for Toyota, 2.26 million for GM. Those millions are the number of cars sold i