Toyota Feels Slowdown in U.S. |
| New York Times - May 8, 2008 |
Toyota Motor said Thursday that the slowdown in the United States economy would likely cause its first annual profit drop in nine years, accelerating a shift by it and other Asian car manufacturers into emerging markets like China, Latin America and the Middle East.
The shifting emphasis toward emerging markets is part of a broader trend in the industry, and underscores the declining stature of the United States in the global economy. Both Asian carmakers and American rivals like General Motors have seen a rising portion of sales in emerging markets that were not even a factor a decade ago.
Toyota, now in a dead heat with G.M. to be the world’s largest car company, said most of its recent profit growth has come in new markets like Brazil, China and Russia. It said the growth helped offset sluggish sales in the United States, traditionally Toyota’s largest and most profitable market, and other mature economies like Europe and Japan.
Read Full Article from New York Times
- Posted: 2008-05-08 08:44:34
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