Toyota to post first sales drop in decade

[Dreamcast18]

In SoCal they are doing 0% on almost every vehicle and $1000 cash back.

AP
Report: Toyota to post first sales drop in decade
Wednesday October 22, 5:10 am ET

Report: Toyota to post first drop in annual sales in a decade due to weak global demand TOKYO (AP) -- Toyota Motor Corp. will post its first decline in annual global sales in a decade this year, hit by slowing demand worldwide amid the financial crisis, a Japanese newspaper predicted Wednesday.

Japan's largest automaker will likely sell 8.3 million units in 2008 on the parent level -- excluding subsidiaries and affiliates -- down from 8.43 million units in 2007, the Nikkei daily said, citing no sources.

Demand has been weak in the United States, Europe and Japan amid the global financial crisis and worries over an international economic slowdown, the paper said.

Toyota did not confirm the report. But company 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.

Toyota is expected to release its annual sales data in January 2009.

The company has been racing neck-and-neck with General Motors Corp. to be the world's biggest automaker by global sales. Last year, Toyota's group sales -- including those from minicar maker Daihatsu Motor Co. and truck maker Hino Motors Ltd. -- rose to 9.366 million vehicles, just shy of GM's 9.37 million.

The Nikkei daily predicted Toyota's group sales would dip to 9.3 million units this year.

Toyota enjoyed strong U.S. sales earlier this year on robust demand for fuel-efficient vehicles, but September sales there dropped 32 percent due to sluggish consumer spending.

Shares in Toyota dropped 6.9 percent to close at 3,530 yen Wednesday. The benchmark Nikkei 225 stock average plunged 631.56 points, or 6.8 percent, to finish at 8,674.69 Wednesday on accelerating pessimism over disappointing corporate earnings.


http://www.businesspundit.com/wp-content/uploads/2008/07/toyota.jpg

http://biz.yahoo.com/ap/081022/as_japan_toyota.html?.v=1&printer=1

[enzvoy]

I was wathing Prison Break the other night and every other commercial was theirs :eek2: on 0 percent interest, they must be desperate I guess

[1buddyc]

We have a new Toyota Factory here in San Antonio where they build the Tundra (truck) exclusively. They had been manufacturing them for about a year, exceeding expectations in production and quality. But due to the poor market and excess of inventory nationwide, they shut the assembly line down for about a couple of months.
They just announced today that they will be starting production back up Nov. 10 at half capacity.
However they did keep the Plant partially open during the shut down, to allow for extended Training and such for the Work Force... I guess the Employees got to at least earn a part of their wages during the shut down.

[Pepe]

You know it's a ROTTEN economy when even Koyota won't sell their vehicles :-?

[Dreamcast18]

You know it's a ROTTEN economy when even Koyota won't sell their vehicles :-?

yep! imagine..0% APR on Camrys and Corollas??? best selling cars around the world...scary state of the industry.

[Jim S]

Interesting article. I figured that I might replace my work truck now instead of next year, since all you hear about is how sales are off. My shop is a block away from all of the dealers and I have been watching them lately and there is almost no one on the lots. So I stopped at both the Dodge and Toyota dealers last week just to get a feel for the new trucks, and told both sales guys that I was thinking of buying strictly in search of a great deal because sales are so flat. Both told me I was dead wrong, sales are good, and that they could offer me a little off of sticker! Told them if sales were so good, why are they all huddled together every day, service bays are almost empty, and there are no other customers on the lots.

And they wonder why they can't sell anything. Almost as bad as TV sales guys!

[Dreamcast18]

Interesting article. I figured that I might replace my work truck now instead of next year, since all you hear about is how sales are off. My shop is a block away from all of the dealers and I have been watching them lately and there is almost no one on the lots. So I stopped at both the Dodge and Toyota dealers last week just to get a feel for the new trucks, and told both sales guys that I was thinking of buying strictly in search of a great deal because sales are so flat. Both told me I was dead wrong, sales are good, and that they could offer me a little off of sticker! Told them if sales were so good, why are they all huddled together every day, service bays are almost empty, and there are no other customers on the lots.

And they wonder why they can't sell anything. Almost as bad as TV sales guys!

If u need a good guy/bad guy to buy a truck...lemme know! Actually, take Jenn with ya...she hammered the sales guy for a steal on the 'mini-van' :wink:

[Jim S]

Have to keep that in mind. Lets see, put 25k into my retirement and worth 15k next day. Pay 25k for a new truck and worth 15k after driving off the lot. Screwed either way, LOL.

[blackcat]

I just bought a Dodge Ram at 50% off sticker with no trade in and no financing. The sales manager said that he thought about calling the Police after I left.





Interesting article. I figured that I might replace my work truck now instead of next year, since all you hear about is how sales are off. My shop is a block away from all of the dealers and I have been watching them lately and there is almost no one on the lots. So I stopped at both the Dodge and Toyota dealers last week just to get a feel for the new trucks, and told both sales guys that I was thinking of buying strictly in search of a great deal because sales are so flat. Both told me I was dead wrong, sales are good, and that they could offer me a little off of sticker! Told them if sales were so good, why are they all huddled together every day, service bays are almost empty, and there are no other customers on the lots.

And they wonder why they can't sell anything. Almost as bad as TV sales guys!

[Pepe]

I just bought a Dodge Ram at 50% off sticker with no trade in and no financing. The sales manager said that he thought about calling the Police after I left.


That's ONE HELLOVA deal :tu: Congrats Bill