Even Toyota, the world’s number two automaker, is feeling the effects of a slumping automotive market.
Toyota’s Executive Vice President, Tokuichi Uranishi, told shareholders Tuesday that surpassing the 2.62 million vehicles they sold last year will be hard to do. The company might scale back its U.S. sales targets as a result.
Toyota’s original 2008 U.S. sales goal was to sell 2.64 million vehicles. The company will review its sales targets in July, like it does every year, reports the Detroit News.
Even with elevated sales of the gas-electric Prius, Toyota is still being hit hard on the same fronts as other car makers. Sales of trucks and SUVs are rapidly declining. These vehicles were huge profit-makers at one point.