Toyota projects lower global sales in 2009

Toyota Motor Corp. plans to sell less than 7.5 million vehicles globally in 2009, down 10% on the year and marking a second straight year of decline amid a tough business climate. Toyota is bracing for a 5% drop in sales to roughly eight million units this year, the first decline in a decade. Its domestic sales are projected to remain almost flat at roughly 1.45 million units in 2009, but North American and European sales are expected to continue sliding. Total sales will likely come in slightly above the 7.27 million vehicles sold in 2005, but more than 10% below a record 8.43 million units sold in 2007. (December 11, 2008)