PREVIEW-Toyota to cut sales goal, outline cost-cutting steps

lunes 15 de diciembre de 2008 10:06 CET

* WHAT: Toyota year-end news conference

* WHEN: Monday Dec. 22 at 0630 GMT

* May cut 2009 sales forecast by as much as 18 pct

* Factory delays, executive pay cuts also possible

By Chang-Ran Kim, Asia autos correspondent

TOKYO, Dec 15 (Reuters) - Toyota Motor Corp (7203.T: Cotización), the world's top automaker, is expected to slash its 2009 sales forecast by at least 1 million vehicles and outline plans to cut costs as the financial crisis threatens to cripple the industry.

A global slowdown and credit crunch have depressed consumer sentiment, forcing automakers from Fiat SpA FIA.MI to Ford Motor Co (F.N: Cotización) to reduce production and forecast an even bleaker outlook for 2009.

General Motors Corp (GM.N: Cotización) and Chrysler [CBS.UL] have said they risk bankruptcy without government support, a prospect with dire ramifications for auto parts suppliers, joint venture partners and the U.S. economy.

Toyota has said it will announce revised 2009 sales forecasts at its year-end news conference on Dec. 22. It lowered forecasts in August before car demand started tanking as the global economy imploded with the failure of Lehman Brothers.   Continuación...