Toyota Expected to Post First Sales Drop in a Decade

A Japanese newspaper predicted Wednesday that Toyota will post its first decline in annual global sales in a decade this year, reports the AP and USA Today.

The Nikkei daily predicts that Toyota, which is Japan’s largest automaker, will sell 8.3 million units in 2008 on the parent level, down from 8.43 million units in 2007. The newspaper did not cite any sources in its prediction.
Toyota did not confirm the Japanese newspaper’s prediction. Toyota spokesman Hideaki Homma said market conditions were "very severe" but Toyota aimed to reach its global sales target of 8.5 million units this year on the parent level.
The automaker’s current 0% financing incentive on 11 vehicles could help the company out of its sales slump in the U.S. Toyota’s annual sales figures for 2008 are expected to be released in January 2009.