Toyota Motor Corp. announced Monday it has lowered its global sales target for the year to 9.5 million units, down from the initial plan of 9.85 million, reflecting sluggishness in the U.S., Japanese and European markets.
"We have corrected sales estimates mainly in the U.S., Japan and Europe due to a slowdown in the markets that are affected by the slumping U.S. economy and surging raw material and oil prices," Toyota spokesman Hideaki Honma said.
The figures include sales by Toyota and its group companies — mini and compact carmaker Daihatsu Motor Co. and truck maker Hino Motors Ltd.