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TOKYO: Toyota Motor Corp., in a close race with
General Motors for the title of the world’s top automaker, on
Monday lowered its global sales target for this year as US demand
slumps.
The Japanese auto giant said it
forecast global sales of 9.5 million vehicles this year, down from a
previous estimate of 9.85 million.
“The target was lowered because
of slower markets in Japan, the US and Europe,” said company
spokesman Paul Nolasco.
“This has been triggered by the
US economic stagnation, rising material costs, increasing petroleum
prices and some other factors.”
But he said Toyota was still
aiming for a 1-percent increase in sales compared with last year.
--AFP
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