Japanese car maker Toyota has slashed its 2009 sales forecast due to slowing demand. This means it has put off its target of becoming the world's first car maker to sell more than 10 million vehicles in a year.
Toyota, vying with General Motors to be the world number one, now aims to sell 9.7 million vehicles in 2009, down from a previous target of 10.4 million.
With sales in Japan, the US and western Europe expected to stagnate, Toyota is pinning its hopes on fast growing emerging markets such as Brazil, Russia, India and China to drive its growth.
But even in those markets the outlook was unclear, said Toyota president Katsuaki Watanabe. The company has not ruled out cutting its profit forecasts for the current financial year to March.
Toyota had already cut its global sales target for 2008 to 9.5 million vehicles from 9.85 million. GM holds the all-time record of selling 9.55 million cars and trucks worldwide in 1978.
